The Benefits of College and Opportunity Cost

For years adults have been questioning whether or not college is worth its cost. Over time the price for college has increased drastically and the potential income of a college graduate is barely following that trend. As colleges become more wealthy and powerful, they’re too pricy for someone to afford without help and debt.

Some people think that getting a college education is not really a good idea anymore. According to Abel and Deitz, “In recent years, students have been paying more to attend college and earning less upon graduation—trends that have led many observers to question whether a college education remains a good investment” (2014, p. 1). If the student cannot find a job that pays a decent amount of money, after graduation why should the government ‘fund it?. College costs are rising each year. Future generations may not be able to go to college because tuition will be too high. But Abel and Deitz

I will discuss what the value of a college education means to me. A higher education will give me many physical benefits such as economic stability, a better quality of life for my family, more career choices, better job security, set a good example for my children at the same time, a college education will also give me many intangible benefits such as boosting my self-confidence, helping me to learn specialized knowledge, thinking critically, bringing me in contact with different people, learning better communication skill and being part of a team. It is something that will serve me well throughout my career and life. So, what is the value of college education to me? After I sat down and took some time to carefully consider what a college

Opportunity cost means giving up something of value or importance to you to achieve a particular goal or outcome. It is a chance that causes you to miss out on something you want, but an individual can benefit by gaining something for the opportunity they accepted.

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.

Opportunity cost can go botho ways, the way of going to college and the way of not going to college. The opportunity cost for not going to college is for example , someone does not go back to school after high school, but works right away. The other example is that someone goes to college and works, but the big difference is that the person going to college stays educated, learns as they go, and moves on while having a job, as for the person just working stays at the same level and even might move down a level for the fact that they are letting time go by . The opportunity cost is a big positive for the person that is going to college and staying

There are many choices and paths to choose when the time comes to attend college however, a question to ask is, is it worth it? If decided to attend college, the following decision to be made revolves around an area of study one would like to pursue and the topic of study that will be available for them. Though many can further their education in different ways, a couple of ways consist of attending a four year college (private/ public) or a community college. Not going to college at all is the other alternative, but is it really a smart idea? Most adults have continuously told young students all through high school to attend college. A student’s chance of economic success in the future can be risen due to a college education. Judith Scott-Clayton, who is an assistant professor of economics and education at Teachers College at Columbia University states, “Individuals with bachelor’s degrees earn about 60 percent more than those with just a high school diploma, who in turn earn about 40 percent more than high school dropouts.” Students who seek higher education, are more likely to experience a better future and a better life. The cost of going to college may seem overwhelming at times however, the experiences and education obtained throughout college is priceless in regards to the way one interacts with others on a global basis, has a stronger job stability, and has better employment benefits.

College is a dream that almost every American wants to come true, however, with the extreme rise in the costs of tuition it is a dream that has quickly turned into a nightmare. “Tuition at a private university is now roughly three times as expensive as it was in 1974, costing an average of $31,000 a year; public tuition, at $9,000, has risen nearly four times,” (Davidson). “For the average American household that doesn 't receive a lot of financial aid, higher education is simply out of reach,” (Davidson). That is why many students have begun questioning the worth of a college degree and if the amount of debt that is received upon exiting college is all for the better. And considering that costs have risen much faster than the rate of inflation, many are starting to believe that college just isn 't necessary any more. However, according to White, economically, the answer would still be a yes. “While unemployment rates for new grads and experienced workers alike have fluctuated throughout the recession and recovery, the earnings premium that college-and advanced-degree holders enjoy over their peers who didn 't attend college has remained relatively stable, and in some instances, grown, according to the report that was released this week,” (White). A study was shown that many college grads are able to get earnings that are significantly higher than those who did not get enough education or only hold a high school diploma (White). Even

Some of the most incredible advancements the human race have made have been in the past century. We have sent men to the moon, improved communication systems, and made the largest technological advancements since the invention of the wheel. In 1946, the first official computer, named ENIAC, was made. It weighed 100,000 pounds, and all it was used for were various calculations. That was only 69 years ago, but now computers can be found everywhere in developed nations. In less than one decade, we have progressed from a 100,000 pound computer to handheld computers that weigh less a pound and can be used for numerous different tasks. It is crazy to think that the simple luxuries that our generation have become accustom to were not normal for our parents or grandparents. An increase in education is the reason we have been able to progress in such an accelerated way. The value of a college education lies in its ability to allow individuals to grow academically, by expanding their knowledge of various subjects, and socially, by being exposed to many different characters and beliefs. These skills ensure that they will have a better future because they will be advancing faster than those who chose other paths. A four year college education, although not for everyone, can push young adults in the right direction.

“… A college degree is the surest ticket to the middle class,” says President Barack Obama (10, “College Education”). However, many disagree. Only 44% of people say that college is worth it from a previous 75%. This is understandable because tuition is the highest it has ever been and is still rising; meanwhile, student debt has surpassed $1.2 trillion (4, “Is College Worth”). Is college really worth the money? It depends on many factors such as the student, major, college, and time taken to graduate. But for the average student, it is definitely worth it; in fact, a college degree has never been more valuable because it increases the chances of having better wages and benefits, more job opportunities, and marketable knowledge. Anthony Carnevale from Georgetown Center on Education and the Workforce says that ““the only thing worse than going to college is not going to college,” meaning students must decide between risking lower wages and higher chance of unemployment or paying for college (4).

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

In the last decade, students and parents alike have begun to question the effectiveness of receiving a college education. Stories of students graduating college with outstanding student loans, being unable to find a job, or feeling overqualified for a position continually increase. In the same manner, the number of students apprehensive about refraining from entering the workforce for an additional four years while simultaneously spending thousands of dollars for an education that in the end may not assure them a job with an adequate income, increases. The issue then is to determine whether or not the cost of college is worth the outcome.

Last year [, in 2010], the gap reached 83%” (Leonhardt). Not only are those with a bachelor’s degree making 83% more than those without, but this percentage doubled in 30 years. This means that a college degree is becoming more and more worth it. Some, like Heidi Shierholz from Economic Policy Institute, argue that, “...the rewards for the time, energy, and money that young people put into college are less than they were a decade ago” (Shierholz). This implies that simply because the gap between wages earned with those who have a bachelor's degree is not increasing at the same pace it did years ago, college is not worth its cost. This is a dangerous, harmful, and incorrect analysis of the data. Just because the gap is not widening at the same pace, there still is a huge gap, a gap that is greater than it used to be. Leonhardt

Since infancy, parents are always encouraging their children to go to college and become a professional. But in this new age economic crisis, is college really worth it? Tuition costs are rising to a criminally high price have everyone arguing. Is college really a good investment? Well in a very short way, Yes it is. An investment that makes you 500,000 to a million dollar lifetime payout is uncomparable. In the end, today an average college graduate will make far more over the course of his or her life than the average high-school graduate who doesn't attend college. This in itself should be enough, but there's also a priceless benefit of college. Going to college has been proven to give overall higher life satisfaction. This is why

Ask yourself one simple question. Will the college industry ever crash? …Your answer was most likely no. College is essential; young adults everywhere need it to get ahead in life, get better jobs, and attain valuable knowledge and skills. The college industry will never crash. Do these words sound familiar? They should. The housing market was once, not too long ago, described in those exact words: it will never crash. Much like the housing market, the current college industry, fueled by massive flows of student loans, composes an enlarging bubble currently in its late Euphoria stage.