In recent years, students have paid more to attend colleges and not earning all their money back. Some people are wondering if college education remains a good investment. However a study shows that both a bachelors degree and an associates degree still tend to outweigh costs. Both return about 15 percent over the past decade. That is a lot considering that you spend a lot on just going to college. With the costs of a college degree is it still worth going to college? (Abel 1) College education is worth the money because it will help you later in life. College is an amazing resource that we have available to us. But people wonder if college is worth the money you actually pay for it. Student loan debt is obviously a concern. On average, today's students graduate with $28,000 in debt. Average tuition per year is above $21,000. In the United states student loans exceed one trillion dollars. (Abel 1) That is a lot of money, that would buy about 41,999,160 new cars. So one trillion dollars in debt in just student loans is a ton of money. …show more content…
Community college is about the same as regular colleges. Frequently overlooked the cost is way less, at a community college a average tuition is about $2,000 and at a 4-year university it is about $8,000. That is just tuition. that isn't counting room, food, books, utilities and a lot of other costs. In Texas a 4-year university offers a bachelors degree for $31,696 (including books) and a community college in the same state offers it for $12,000-$15,000. That's a $15,000 difference. That is a big amount of money for just going to a different
College students graduate with an average student loan debt of approximately $37000. Of course, that's not the whole story. Millions of college graduates have student loan debts ranging from $50,000 to over $200,000.
As with any college student, the idea of not having to pay for school sounds quite perfect. Average student loan debt has increased at a constant rate since 1993 and peaked for 2015 graduates at $35,000 according to the Wall Street Journal. The same report shows two other key factors. While 70% of students leave college with student debt, the need for a college degree has never been more important. Unemployment rates between people holding a bachelors degree or more sits around 2%, while people with only a high school diploma is over 5%.
There is somewhere between 902 billion dollars and one trillion dollars in total outstanding student debt today, and around 60 percent of college students borrow money annually to pay for their tuition and books (Ghannam). Seven out of 10 seniors (69%) who graduated from public and nonprofit colleges in 2014 had student loan debt, with an average of $28,950 per borrower.
The amount of money being borrowed is overwhelming, especially since the cumulative total of debt is huge, nearing a trillion dollars, much bigger than credit card debt. However, a typical college graduate who borrowed money to continue attending the college owes at least $25,000 dollars when student debt is not so big for individuals as compared to credit card debt.
Over the last decade student loan debt has risen substantially and is now one of the largest form of personal debt in America, totaling about one trillion dollars, with 71 percent of students who earn a bachelors degree graduating with debt, with the average amount of debt being $29,400.
Student loan debt now averages nearly $33,000 per student, and almost 70 percent of students take out student loans. The student loan industry, with over $1.2 trillion in outstanding loans, is now competing with the mortgage industry for the number one spot in highest consumer debt. In fact, many 30-somethings, nearly a decade after college, are still having to choose between buying a home and paying off their student loans.
Is College worth it? Despite the cost of tuition increasing, Students are making a smart decision investing in college for majors that need a degree and are demanded by society. College is essential for many people to advance their status and become successful as shown by statistics, students, and the economy.
Is a college degree the only way to success? In today's society, there is an immense amount of controversy when it comes to college. Some people believe college is the only way to success, while others argue college is not worth it at all. In the article Is College Worth It? Clearly, New Data Say by David Leonhardt, he explains all the pros that come with earning a college degree.
Student loans that help pay for college can average out to be about $33,000. As a young graduate, this excessive amount of debt can leave you stagnant and enslaved to your debtor even over the age of 60. To avoid this Maggie McGrath, a staff writer for Forbes disagrees. In the article, "Money Isn't Everything: When It's Worth Taking On $50,000 Or More In Student Debt,” the general rule of thumb dictates that you shouldn’t borrow more in loans for your undergraduate degree than what you expect to make your first year out of (para
The average student’s loan debt coming out of college is $27,000, according to “LA Time Article Is College Worth the Tuition?” Experts say that it would take about 17 years after college for the average student to pay back their student
Many high school students sometimes wonder if continuing their education after high school is truly worth it. Obtaining a four-year degree is a very expensive and time-consuming task. After graduating from college and getting a Bachelor’s degree, the goal is to find a job that fits their chosen profession and earn more money than if they would have not gone to secondary school. The worry of many students is that they will not be able to achieve this goal in finding a job with their degree or that the pay will not be worth it as they are paying off loans after graduation. People have different opinions on the matter and some do not even consider that college is not worth the money. The real question of concern is whether colleges are assisting students towards their goal and if the time and money spent on the degree is worth it to the student and family.
In less than a decade the loan debt has increased tremendously by 56% and there will be a greater increase as the years go by. According to The Institute for College Access & Success they found out that at least 70% of students graduate with a loan debt of at least $28,000. The average median income household earns $56,000 in a yearly salary, however, a low income family of four only makes $24,000 a year. According to the college board it cost $17,000 a year which covers tuition, fees, room. For many students that is almost impossible to pay because they have other expenses to pay besides school.
There are many similarities and differences points between the community colleges and the four-year colleges in the United States. The first point is the degree of students. Both are accepted the high school degree or undergraduate degree, but the four-year colleges are also accepted into the graduate degree. The community colleges offer an associate degree that can get entry-level jobs. Whereas, the four-year colleges offer three types of degree that are bachelor’s degree, master’s degree, and PhD degree. The bachelor’s degrees lead to entry-level and mid-level jobs. The next point is the costs to pay to study in the college. The students have to pay the tuition. The tuition at the community colleges is about $3,000 per year, which the tuition
Is a college education worth it?If you are adaptable to the changes from high school to college and the amount of work inside and outside of class you have to out in it is.Sometimes money can be a cold spot in a college education.
Now days, many people are told that they must graduate high school with good grades, so that they can get into a good college and be successful in life. Many people follow this because it’s what they have been taught their whole life. Most won’t even ask themselves, is college worth it, or is there a better alternative out there. College can be worth the time and money that is invested, for a lot of individuals, if they use it correctly. On the other hand, college isn’t for everyone and there are many reasons that make it not very appealing for these individuals. I consider college to be worth it if you use it correctly, even if it isn’t the best financial investment. While there are many people who think college is worth the time and money invested, there are others who disagree.