Is college the right path ?

The inflated price of higher education has brought on the big question: is going to college still worth the price? Having a group discussion about the topic brought a lot of concerns, especially about how much tuition has gone up over the years. Whether going to a public or private university, tuition rates have more than doubled compared to just a generation ago. Nowadays, paying to go to college is one of the most frightening expenses people have to make, right after buying a house.

The Cost of College: 

One of the most important points that arose during the discussion was the cost of college. To many parents, sending their kids to college is like taking on financial strains that will exist for years. Some students leave college owing more than six figures in debt, and it appears to be getting worse. It's no surprise then that 75% of U.S. adults decide not to go to college because it's too expensive. More than that, even those who start college often can't complete it, as over half of them drop out due to financial reasons. What's worse is that more than half consider public universities too, supposedly the more "affordable" which ended up even more expensive too.

Does a College Degree Still Pay Off?

Despite the rising costs, there's still evidence that a college degree can be worth it in the long run, depending on what you study. Statistics reveal that whereas 56% believe college is no longer worth the investment, college graduates on average make more over their lifetime compared to people who have only a high school diploma. For example, the average lifetime earnings bump for college-educated men is about $587,400. In places like England, degrees in fields such as Economics, Medicine, and Computing seem to offer the highest returns. But therein lies the problem it is not always so cut and dry. Oftentimes, the worth of a degree treads a thin line between what you learn and whether or not you can find a job in that major upon graduation. Some students will find themselves in low-income jobs with large student loans, which might not be as financially promising as one would think.

                                                                           

A Critique

There is also much being said on both sides regarding higher education. In their book, Andrew Hacker and Claudia Dreifus write that university attention has focused on prestige and money rather than a high-quality education. They said that is why tuition keeps rising astronomically and the administrative costs are through the roof. Another film, Ivory Tower, is a documentary that looks into the crisis of student debt and questions if college is still worth the financial burden. Both agree that serious reform needs to occur, such as reducing tuition and making superior options for students more financially viable.

The Case for the Liberal Arts
Yet others hold that college a liberal arts education, specifically still be well worth the investment. For instance, Sanford Ungar argues a liberal arts education is more necessary now than ever because students are learning to think critically and evolve through a curriculum based on breadth of exposure. These skills will be of great importance in today's world, which is confronted daily by shifts in jobs and industries. Also, in his famous Kenyon Commencement Speech, David Foster Wallace underlined that education could make our thinking develop more empathetic, aware of things, and capable of living a more meaningful life.

College as a Path to Growth
I don't believe that college is a waste, but definitely, there is something that needs to change in the system. On one hand, high costs and student debt are big concerns that won't go away. Education brings more than a paycheck: it's personal growth, new perspectives, and a way to learn your way around the world. But it is time for some real reform: Colleges need to cut costs and refocus their efforts to make higher education more available and relevant for students. What good is a degree if one graduates with debt and not much in the way of job opportunities?
While keeping the economic factor in mind, we must not forget the big picture: education goes beyond economic benefits; it's about what life and opportunities it can help you build.

 Education and what you know is something that no one can take away from you!