Summary Of David Leonhardt's Article Is College Really Worth It?

In his Essay “Are too many people going to college,” first published in a 2008 issue of AEI, Charles Murray explores many insights onto the topic of furthering education as well as exploring various other options to pursue after high school. Who exactly would think that too many people are going to college? Well with more and more students flooding campuses at the end of every school year and less and less going into trade schools, a shift in the job market is just beginning to be seen on the horizon. Charles Murray’s essay “Are too many people going to college” shows that not only are there other avenues to pursue a potential life long career, but that much of the time pursuing these avenues may offer better results for some wanting to go to college.

This week for PLN I read "Is College Worth It? Clearly, New Data Say" by David Leonhardt is about how college is worth it even with its cost. In the article, it describes how important a degree is. It said in the article that 98% of people with a degree made more money than people without a degree. There is nothing inevitable about this trend. If there were more college graduates the pay gap would shrink. The true cost of a degree is negative $500,000. The unemployment rate for 25 and 34 years old is 3%. That is from having a degree. The average hourly wage for a college graduates has risen 1% to 32.60.

David Leonhardt, the author of “Is College Worth It? Clearly, New Data Say,” makes the controversial argument that even with college debt increasing substantially in the United States it is still worth earning a degree. Leonhardt uses a variety of relevant figures and statistics to support his claim of the irreplaceable value of a college education. The majority of statistics used by Leonhardt concern the earnings advantage of college graduates as compared to their counterparts who decided not to attend college. Among the first issues Leonhardt addresses is the growing concerns prospective students and their parents have with attending college such as underemployment after graduation, debt, and unemployment (Leonhardt 33). To refute these arguments, he cites statistics from the Labor Department concerning inequality of income distribution; these statistics were

In today's world many people question or education system and question whether or not the cost is of college is worth it just to continue your education. Although you inquire a lot of debt in college. Getting a degree is almost necessary in today's job market because most jobs require one and jobs that do not require a college degree are getting harder to get, as the unemployment rises. Therefore a college degree is worth incurring significant debt. Earning a college not only provides you with job security and provides potential for greater lifetime earnings.

When opportunity knocks you should always open the door. College is a great opportunity to garner success from a secure career. Furthermore, college or university education is worth the debt you will accumulate from it. If you're still weighing your options, consider this, "Lifetime earnings for college graduate are substantially higher than the earnings of someone without a college degree," (Source 4, pg. 13). Getting a higher education is not just good for you, but its also good for your bank account. On the plus side, it is easier for you to live a better life, and if America ever hits a recession you will be in a better position to support you and your family.

A lot of people will argue, that college is too expensive. Not everyone can go to college, for financial reasons. Also, they may get into college, but end up having to leave because they cannot afford the remaining balances; or, they received financial aid, but end up having to take out loans they are going to be paying back forever. It is like once they graduate they will be working mostly to pay off their student loan debt. This also discourages some students. In some cases, they will not even take the initiative to try because it is so costly. I do not understand why it cost so much to want to better yourself, and possibly put us in debt for the rest of our life just to receive a higher education. Not only has the cost of college risen over a period of time, but it continues to go up. Yes, they have alternatives for paying student debts, but what if you do not qualify? Lastly, you are not guaranteed a job just because you graduate and have a college degree(s).

Have you ever just stopped to think about what it must be like to be “qualified” for a job yet be unemployed and homeless? Starving on the streets because you paid everything you had to an institution that was supposed to guarantee a better life, a more stable and successful career. Obviously this is an extreme case, not everyone who pays for college ends up living on the streets and broke, but almost every college graduate is in debt. For as long as college has been around it has always meant a better life, it’s always been that people who went to college were more successful, smarter, and would make way more money than someone who didn’t go to college ever would. Lately, however, college has become so expensive that going to college will more than likely leave you in debt working for years upon years just to pay back what you owe and then start making money for yourself.

College graduates, on average, make a whopping one million dollars more in lifetime earnings than those with a high school diploma. Those with a college degree now make $17,500 more per year than those without — a wage gap that's doubled in recent decades. Those without a degree are four times more likely to be unemployed.One of the biggest and most important reasons for anyone to attend college is the upper hand it gives with regards to jobs and career. A college graduate has a higher chance of landing a job when compared to an individual with a high school qualification. Further, a college graduate also has better options and opportunities to progress in their

Leonhardt believes that college is beneficial and especially financially. The debt that college students go through becomes negative $500,000. After students finish college and start working they pay their debt easily. Leonhardt mentioned “Americans with four years college degrees made 98 percent more an hour on average in 2013 than people without a degree.” This statistic shows that when students start working they can pay their debt in a wisely time depending on their major.

As it is heavily believed and statistically proved by Document A, Earnings and Unemployment Rates Based on Educational Attainments (2015), the higher the degree earned, the more money attained, similarly the higher the degree earned, the lower the unemployment rate. This proves the worth of college by giving numerical comparisons of those who invested in it verses those who didn’t. The median weekly earnings of $1,730 from someone with a professional degree put up against the $678 from someone who only graduated from high school shows a very obvious difference. This information greatly supports the decision of going to college by displaying the “in the long run” advantage of college through the amount of money you can make in the future with the degree you earn

When it comes to achieving success in the work force and finding a fulfilling and lucrative career there are few things more important that higher education. Going to college and getting a degree is essential in finding success in the work force. The problem is when the cost of gaining that degree outweighs the financial compensation the career that follows is able to supply. Very few people are able to pay for college out of pocket. The result of this is that students seeking higher education are forced to take out massive student loans. This means that they are entering the work force

“On average, the benefits of a four-year college degree are equivalent to an investment that returns 15.2 percent per year, … more than double the average return to stock market investments since 1950.” (Greenstone 1). This is an amazing deal of a lifetime is anyone asks me, from any investment. The general population is better off entering into to college to get into a better workplace, even if that means dropping out if it becomes over whelming, many find college a life changing experience.

College gives its graduates the greatest ability to achieve a higher paying job. Furthermore, adults who attend college earn higher wages over those who do not. As emphasized in “College Grads Find Big Degree of Debt, Difficulty; American Families Start to Wonder Whether Education Cost Is Worth It” by Patrice Hill, a staff writer for The Washington Times, employees who have a

Individuals who say it is not worth going to college would argue that college is a waste of time but can agree that college graduates make more money than non-college graduates. College graduates with a four year degree make more money than a high school graduate. For example, these statistics from an online source explains that “On average, a college graduate with a bachelor’s degree earned $30,000 more per year than a high school graduate, or about $500,000 more over a lifetime, as of Apr. 2013. The bachelor’s degree makes a huge difference than a high school diploma. The majority of high school graduates want to work when they graduate high

Another statistics presented by Collegeboard shows that "In 2010 11, about 57% of public four year college students graduated with debt. They had borrowed an average of $23,800 (in 2011 dollars)" (Student Loan Debt Statistics). $23,800 is not a small amount to much of the middle class today, and unless graduating with a bachelor's degree increases the chances for employment, it's simply not worth it. In fact, a 2012 study from Georgetown University's Center on Education and the Workforce titled "Hard Times: Not All College Majors are Created Equal," shows that "Unemployment figures show the jobless rate for recent college graduates with bachelor's degrees has been running at an unacceptable 8.9 percent" (Loose). An average of $23,800 in loans to support a 4 year college attendance plus an unemployment rate that is above national average, " considering the national unemployment rate in March 2012 was 8.2 percent, according to the U.S. Department of Labor." (Loose) just points to the undeniable fact that joining the work force serves as a better alternative for students today. Students attending work force will have a solid advantage over college attendees by not only able to avoid the high cost for college tuition, but also developing practical skills that benefits their work experience.