Why Is College Worth The Debt

As you graduate high school you begin to think about whether to go to college or not. A huge number of people believe that college isn’t worth your time or your money. In my opinion, education after high school is absolutely worth your time and money. There are many reasons why you should go to college. Some reasons are, you can earn money and another is that you have a greater chance of getting a good and decent job. In this essay I will discuss the value of college and why it is important.

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%.

Right now in our society a college education is no longer an option or privilege, but rather a necessity. We are practically raised and conditioned to believe that one needs higher education in order to succeed in life. There is a saying that says "if you think education is expensive, try ignorance." Nowadays, going to college is common in United States. According to the statistic, there are more than 70 percents of the student are going to college after high school graduation. After high school millions of kids get a start in life without any higher education. Going to a college or a university of some sort is one of the wisest choices a person can make. Does the time and effort that individuals put into

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.

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.

Many students today look towards the future scared and frightened debating their future, all of them asking the same question. Is a college education truly worth the cost and the amount of debt that a student acquires over a four-year period? Many ask what are they doing this for, a piece of paper called a degree. That’s what the articles “Five Reasons Why College is Worth the Cost,” written by Reyna Gobel and “Is College worth the cost? Many recent graduates don’t think so,” written by Jeffrey J. Selingo both address. The articles take different standpoints and views on the topic. Gobel’s article siding with the view that college is worth the cost. While Selingo’s article argues that college is not worth the cost.

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.

college is great oppurtunity for some people. Here are the reasons why it has amazing oppurtunities, helps you choose an occupation, and it is worth the cost.

Today, there’s an issue that has been weighing college students down. The problem is student loan debt. This is the highest of all debt, passing up auto loans and credit card debt. There is approximately $1 trillion in student loans in America and the number is growing every year. It has been said that most of the student’s in debt were dropouts and graduate students, but now has broadened to students still working on their degree. Is getting a degree worth the financial burden?

Even though college gives students the oppurtunity to increase their earning potential , and gives more employment possibilities college is not worth it. The amount of debts most students have upon graduating and receiving masters degrees serves as direct evidence to support my statement. Americas student debt amounts up to 1.2 trillion dollars in total, yes 1.2 TRILLION which comes after billions. While college does give student’s the oppurtunity to increase their earning potential , and more employment possibilities, college is not worth it .

The first reason that college isn’t worth it is because most successful people didn’t go to college. For example, Bill Gates didn’t go to college and he is making around 300 dollars a second (10 Famous People Who Didn’t Go to College). The richest man in the world didn’t go to college.

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.

In the debate about whether college is worth attending, many argue that college is worth it but others argue that college is not worth it. Those who argue that college is worth it contend to say that college graduates make more money, college allows students to explore career options, and not going to college will cost people more money in the future but on the other hand, those who argue that college is not worth it contend to say that college graduates are employed in jobs that do not require degrees, students who do not graduate waste their own money and the governments money, and student debt can cause another financial crisis for students who are already struggling with financial aid. While it is true that college does cause many problems already, college is worth attending and worth all the problems at the end of the road.