Economics of College

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As we grow up, everyone asks us what we want to be when we grow up. Once we get a little older, they ask where we want to go to college. They ask every question imaginable, except how we are going handle the financial responsibility. The decision to attend college quite often results in major student debt. This debt often influences a person’s decisions on where to attend college or if they are able to attend college. With attending college there ensues a large financial burden, but it is difficult to find a job without a degree. The need for a college degree is growing, as is the cost. The unemployment rate representing people who have not graduated college is currently 7.3%. While that has decreased from where it has been…show more content…
Employment rates are low for people who do not attend college and high unemployment rates hurt the economy. When college attendance is low, the community is hurting because they do not have as much money coming in from students paying for college. When college attendance is high, however, the community prospers, as they have a lot more money coming in through the college (Bureau of Labor Statistics). While there are many cities that have colleges that help them prosper there are many cities that do not have colleges. Those cities either prosper or suffer from their citizens receiving higher education. If there isn’t a college available for attendance in a city, people must move to other places to get a higher education causing the population of the city to decline and potentially causing the economy to suffer. Although this poses a potential problem, if there are jobs available in a person’s field in their hometown they are likely to return home to seek employment. Cities without a college but a vast quantity of jobs may prosper more than cities with colleges because they can provide a stable work place while a college town cannot. Not every college town prospers and not every town without a university suffers (Bureau of Labor Statistics). Employers are affected by college attendance. If people are unable to go to college because of costs, there are not as many people certified to do a certain job. Without people certified to
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