Opportunity Cost For College

If you were to by chance walk into a normal, bland Economics 101 class, you are almost destined to overhear a professor speak about one of the most important cornerstones of basic microeconomics, opportunity cost. By definition, opportunity cost is what one forfeits in order to pursue something else. A big decision of life that exemplifies the exact definition of opportunity cost is when teenagers go to college. Instead of getting a job at a low level right out of high school, many of todays concerned teens are giving up their ability to immediately labor for income and instead go straight to college in hopes of obtaining a higher level occupation. The concerning question on the mind of unknowing newcomers to the real world is, however, if college is all that it’s built up to be. The fact is, if you look at attending college in the long run, the ability to conceal a high paying job by the time of graduating is very high, making the opportunity cost very worth it.

Ever since you were little, your parents have been talking about this wonderful thing called college. They told you that you have to go there to get an education before you can get a good job. Many kids have dreamed of going to college, and being able to get the job of their dreams. By putting in hard work and dedication to good grades in high school, you had high hopes that you would be able to get into an Ivy League school. The American dream of being able to go to college to get a degree is sliding away from many people due to rising costs. With increasing tuition prices and job loss, the college dream is slowly and surely slipping away from many students and their families.

For each choice I make, there is an opportunity cost. Opportunity cost is the real cost of an item, what I must give up in order to

“The writing in this essay is my own work. If I have used outside sources, I have acknowledged them through correct documentation.”

Bernie Sanders, senator of the state of Vermont said, “The cost of college education today is so high that many young people are giving up their dream of going to college, while many others are graduating deeply in debt” (“Brainy Quote”). Each year students take out loans to pay for a college education. Is it really necessary? They are just going to be a statistic. I believe everyone should not go to college. College is not for everyone.

The author talks about college cost, and the effect it has on students and on how times it takes longer to graduate. This is an important topic because college cost has been a problem for many individuals for decades and it still is. College cost is something that shapes people's lives and it worries them because college cost is what determines if they're going to continue going to college. It’s something that people should take lightly because college is pretty expensive. According to the advocacy group complete college America, it cost 63,718 for one extra year to attend college. For students who take longer to finish school because of certain requisites, it becomes a toll because of the cost. According to Norton Field Guide to writing by Richard Bullock and Maureen Daly Goggin found a report on Los Angeles-bases campaigns for college opportunity, saying students who attend school 6 years instead of 4 years will lose 110,900 dollars in their lifetime. Many people in the work field and colleges expect students to attend school for four years. According to the NFGW, “nearly nine out of 10 freshmen think they will earn their bachelor degree within the traditional four years.” Yet In the NFGW quotes the U.S Department of Education and they report that “about 45 percent won’t have finished.”

In times, nowadays college is one of the main ways to become successful in this world. The thing is college isn't for everyone. Some kids simply do not qualify because of grades but a major problem is tuition. On average tuition can range from 20,000 dollars to 40,000 dollars a year. Add this up for 4 years and you are looking at about 120,000 dollars for a 4-year degree. This price is what can take away an opportunity to go to college. In 2011-12, the NCAA reported $871.6 million in revenue. That could fully cover about 7,263 students, so imagine if this price was split each year for students, this would help lower the cost of tuition. Student athletes already get a full scholarship and most of the money received yearly by the NCAA is from

One of the biggest questions a high-school student will be asked is about their future career. What most students pursing a college degree fail to realize is the opportunity cost they might have to sacrifice. It all comes down to the individual because unless the person is a professional basketball player, then college might not be worth the opportunity cost for that said individual. Unfortunately, not everyone is a professional athlete so their opportunity cost for college might not be so easy to determine. Also the student must take into consideration what degree they want to pursue and see how the job market is like. For instance, an art degree may not be the best choice to go with in today’s economy. The CNBC article that brought an interest to this topic is “What’s the

Some people believe that the cost of college is too high, but other people believe that it is not high enough. If you are trying to go to college and don’t have a scholarship, where else can you get the money from? If you don’t have a job you won’t be able to pay for college. They should make it where if you want to go to college you can, for a price that everyone can afford. Basically, most people in college are there on scholarships, academic or athletic. I believe that the cost of college is way too high and it is unfair to the people that can’t afford it. Just because you don’t have enough money that should not stop you from trying to get a greater level of education. The cost of college is too high because of the cost

The topic of paying for college has been a widely debated issue for students. Some people believe college is too expensive for teens who have just began to wander around the adult world, while others feel college would be taken for granted if the student doesn’t make an effort for their education. Higher education may include longer years of studying, loans and debt. This is what makes society feel that college should be free. However, it must be acknowledged that free college really isn’t free and misunderstanding this concept would be an economic mistake. Although it’s understood that college comes with a great price, eliminating the cost for higher education would increase taxes, diminish the value of a degree and may cause students to not

First I will tell you about education. Some type of educations are, an associates degree (2 years of college), bachelors degree (4 years of college), masters degree (6 years of college), and a doctoral degree (8 years of college). It is important to get a college degree if you want a good paying job. One cost of going to college is that you might have college debt, and if you are going to college for a job that doesn’t pay that much than I would recommend not going to a college. But if you are going to college for a job that pays a lot, then I would recommend going.

Have you attended college? If the answer is yes how long did it take you to pay off your student loans? If you didn't go did your decision to not get an education have to do with money? Many people did not attend college because it was too expensive and they could not find a way to pay for an education. Many student today are struggling to pay their way through school creating a higher dropout rate. On top of paying for tuition many students also worry about how to pay for their dinner that night or how to pay for either dorms or a house at the beginning of the year. College tuition is becoming way too expensive for the average family to afford putting their kid or kids through school it has turned into more of a hassle for many families rather than an opportunity to prepare young adults for their future.

-The opportunity cost of something is what you must give up of one thing, in order to get it. Opportunity cost is a key concept of economics because it is described as expressing the basic relationship between scarcity and choice. Opportunity cost plays a crucial part in ensuring that scarce resources are used efficiently.

Parts of opportunity cost are explicit costly (money spent along the project to make it happen, for the task to be done perfectly money and labor need to be involved, e.g. Boss paid workers for their project, students pay tuition to enroll in class and all other amenities involved.) and implicit cost (one’s time value or origin in the next best alternative. The time incorporated in order to run out the next best option).

The cost of something is what you give up to get it. Opportunity cost is defined by