is college worth it essay

Is College Worth It? Pros and Cons of Going to College

Is college really worth it? It has long been seen as a rite of passage, and seen (though not necessarily correctly) as something that’s a necessary step for success in all sorts of careers. But you don’t have to skim the headlines too often to know this: a college education can be quite expensive . So what do I do? you may be asking yourself, is college worth it, or is it overrated? Good question—let’s talk about it. 

Why do people go to college?

People go to college for all kinds of reasons: College graduates have tended to have greater career stability, lower rates of unemployment, higher job satisfaction, and (sometimes) more of a chance to impact their communities. People can also go to college for deeply personal reasons—for instance, you might come from a family where no one has gone to college, and you’re trying to break the mold by being the first to do it. Or maybe the opposite is true—maybe you come from a family where everyone has gone to college, and it’s just kinda something you’re supposed to do.

No matter your background, most people who go to college think it will help them launch a career in something. And then there’s the allure of the social aspect. College can offer students an opportunity to live independently and make new connections.

Should I go to college?

That depends on your goals. If you want to pursue a specific career that requires a college degree, then you should probably consider applying. But you don’t necessarily have to know what you want to study, or even what career path you’re interested in, for college to be a good idea. Maybe you’re interested in going to college so you can figure that stuff out. Or maybe a career isn’t even on your mind, but you’re interested in learning for the sake of learning, and see a four year school as a chance to dive deep into topics you love. That’s great, but going to college shouldn’t be something you do on a whim.

Getting a four year degree is a big decision, and one’s that largely personal. If you are thinking about going to college, you’ll want to be sure you’ve given your motivations serious consideration.

There’s one especially important aspect you should consider seriously: cost. 

How much does college cost?

Going to college is a financial commitment, and it’s important to wrap your head around potential expenses before committing to a school. According to the College Board , the median cost of Tuition and Fees and Room and Board is $40,550 for out-of-state students at four-year public universities ($23,250 for in-state students ). The cost of going to a four year private school is a bit more, with median tuition, fees, and room and board summing up to $53,430.

To be clear, that’s the cost for a single year at a four-year school. Multiply those numbers by four to get a sense of how much of an investment a college education can be.

So yes, going to college can cost quite a bit of money. Does it make sense for you? Is higher education really worth it? Let’s look at some pros and cons. 

3 pros of going to college: reasons college is worth it

1. on average, college graduates make more money.

We’ve already talked about how expensive college is, but know this: on average, people who get a four year degree make more money over the course of their lives than people who don’t. Forbes notes that the median salary for 25 - 34 year olds with only a high school degree is $36,000. What’s that same age group make once they get a bachelor's degree? $59,600. Think about that. That’s nearly $14,000 more per year.

(Though a heads up that if income is one of your primary goals, different degrees tend to have different average income levels .)

2. Say hello to your instant professional network

In high school, the concept of “networking” might not yet be relevant to you. But as you advance in your career, making connections through networking generally becomes a necessity when looking for a job. Like it or not, the tired refrain of “who you know” being as important as (or maybe more important  than) “what you know” has some truth to it. Surveys suggest that those with a college degree have more close connections in their lives than those without one. It’s not hard to imagine why the college experience lends itself to that finding… If you go to a four year school, maybe you live in a dorm with a bunch of other people, all bonded by the idea that you decided to go to the same school. Maybe you strike up a conversation with someone sitting next to you in class, or forge connections with others in a club or on a sports team. College is rife with opportunities to connect with others, and once you graduate, those connections can stick with you. So when you find that super awesome job posting online, you might be glad to see that that guy you sat next to in Psych 101, for example, also works at that company.

3. Opportunities abound for personal growth and self-discovery

This one’s a bit trickier to quantify, but it’s perhaps one of the most exciting things about college for potential applicants. At many schools, there's just simply so much you can do. The University of Michigan, for example, has 1,600 registered clubs for students to join. UCLA has 1,200 . Even smaller schools like Kenyon offer over 100 student organizations. The sheer number of things to get involved with at a four year school just isn’t something people experience in other contexts of life; you may not realize how passionate you are about knitting until your college roommate drags you to the serenity of Knitting Club . But apart from student clubs and organizations, you’ll also have access to opportunities that let you explore what you want to do professionally. Many colleges have career centers that can help you get summer internships doing work you find interesting. So even if you go into college not quite sure what you want to do for a career yet, you can use the resources your school provides to help get some guidance. 

3 cons of going to college: Reasons college isn’t worth the cost

1. it’s likely that you’ll have some debt.

Roughly 70% of people getting a bachelor’s degree graduate with some level of debt from student loans. The average amount of money borrowed to get a degree? $30,000 . For some students, taking on some debt to fund their education is worthwhile, but this may not be the case for you.

Here are some factors to consider: on average, people with a bachelor’s degree in a STEM field (like engineering or computer science) make around $65.000 - $75,000 out of college. People with a humanities degree tend to average about $50,000 straight out of college. That doesn’t mean you shouldn’t get a humanities degree if that’s truly what’s important to you. But taking on a lot of debt to do so is probably going to be a lot tougher than it would be for someone making $25k more per year If you’re not quite sure how you’ll pay off those loans once you do graduate, then you may want to consider alternatives to a four year degree.

2. Your chosen career may not require that you get a four-year degree

If you already know that work in the trades interests you, a college degree may not be a worthwhile investment. There are roughly 30 million jobs in the United States right now that don’t require a bachelor’s degree. And with an increasing shortage of skilled trade workers , these kinds of jobs are in increasing demand. But can I make decent money doing that kind of work? You may be asking. Well, consider these median salaries:

Carpenter : $48,260

Plumber : $59,880

Electrical Lineworker : $78,310

Notice that some of those are just as good or better than starting salaries for some degrees.

3. You may not be ready to attend college

College can be an opportunity to explore all kinds of exciting opportunities, but depending on what else is going on in your life, it may not yet be the best option for you. Many people experience some sort of emotional or mental health distress over the course of their four years in college, and not everyone’s in a space where they can handle that right after graduating from high school.

A survey from the JED Foundation showed that over 60% of respondents (all college students) wished they were more emotionally prepared for the demands of a college education. For many young people, the pressure to do well in high school to get into college can make them overlook some of the common realities people inevitably face when they actually attend a four year school:

If you’re attending a residential school, this may be the first time you’ve lived away from support systems at home—that can be harder than many people expect

Classes may get hard (and will definitely be harder than what you’ve experienced in high school), and you may struggle to deal with the academic pressure

If something difficult happens back home, it may be hard for you to be physically distant from your loved ones while you’re at college

Being clear on where you stand emotionally and mentally before making the jump to college is a worthwhile consideration. If you think that you’re not yet in a space where you can grapple with the stressors of higher education, you may benefit from holding off attending college until things change for you. 

Is college for everyone? Alternatives to college

So if you’ve decided that college is not for you, or that you’re willing to entertain alternatives, you might be asking yourself, okay, so if not college… then what? Sometimes it can feel like there’s no other option besides going to college, particularly if you’re coming from a community where it feels like everyone around you is planning on getting a four year degree. But you do have other options: 

Trade Schools . So maybe you saw those salaries above for plumbers, electrical lineworkers, and carpenters, and were curious about how to pursue those kinds of careers. Many of those skilled labor jobs don’t require four year degrees, but instead require you to do some training at a trade school. The good news about those schools is that they often cost a lot less than four-year degree programs, and they take a lot less than four years (electrical lineworker programs, for example, take an average of 18 weeks to complete ).

Bootcamps . You might find the trade school promise of practical training alluring, knowing that you want to gain skills in a matter of weeks, not years, and you don’t want to spend hundreds of thousands of dollars to gain those skills. But maybe careers like carpentry and plumbing aren’t your thing. So is there an option for you? Well, you might consider looking into bootcamps. Bootcamps are intensive learning programs that promise to give you practical skills in fields like data analytics, UX, and computer coding. One of the most alluring things about these programs is that they can be accomplished in way less time than a four year degree. General Assembly , for example, promises to give bootcamp graduates practical training in a variety of fields in as few as 12 weeks.

Gap Year. Maybe you know that you want to do something to develop your skills and grow personally after high school, but you’re not yet quite sure what it is. If that’s the case, you might find a year to reflect and gain experiences helpful. If you have the means to do so, traveling and exploring other cultures and value systems can be a great way to gain perspective and insight on yourself and your aspirations.

But you don’t have to travel on a gap year . You could take a job in your local community to get some practical experience while earning some cash. Going into an experience like that, knowing that it’s just going to be for a year, can give you some peace of mind while you hone skills and reflect on what bigger-picture aspirations you have for your future.

Do you have to go to college?

In a word, no: a college degree is required for many careers, but clearly not all, and the job market may continue to shift to focus more on skills rather than degree. But you should definitely consider it. Particularly if your career aspirations might require you to have a bachelor’s degree. Though the number of jobs requiring four-year degrees has decreased over the past few years, 44% of job listings still required a bachelor’s degree in 2021. But as we’ve talked about, there are lots of alternatives to college that enable you to enhance your career prospects.

Paying for college

So is higher education worth the cost? As we’ve shown, there’s no doubt that it’s a sizable investment, but know that there are ways to make it more affordable—the sticker price of tuition doesn’t tell the whole story of how much most people actually end up paying for school. A 2018 report showed that of all the students attending 4-year private colleges, 89% received some form of financial aid . This means that the vast majority of those students were not paying full tuition for their four-year degree.  So know that while the idea of spending hundreds of thousands of dollars on anything can feel overwhelming, there are ways to make college more affordable. Check out our guide on paying for college for more information about this important consideration in the college search process.

Special thanks to Nick for writing this blog post.

Rather than candy, Nick (he/him) went searching for people’s vacuum cleaners when trick or treating. He’s since found other ways to help people clean, usually involving their essays (though he has great ideas on carpet maintenance, too). He earned a degree in Psychology from Bates College, where he rowed boats and acted in plays. Teaching high schoolers English for seven years taught him about the importance of presence and knitting sweaters. He sweats a lot, usually on purpose, and usually involving running shoes, a bike, or a rock climbing harness. His greatest fear? Heights. His greatest joys? Numerous, though shared laughter is up there.

Is a College Education Worth It?

• History of College Education

The American debate over whether a  college education  is worth it began when the colonists arrived from Europe and founded “New College” (later renamed  Harvard University ) in 1636. In spring 2023, there were over 17 million college students in the United States, and over 43 million borrowers owe a collective $1.75 trillion in total student debt. 

Colonial America produced nine colleges that still operate: Harvard University (1636), the College of William & Mary (1693),  Yale University  (1701),  Princeton University  (1746),  Columbia University  (1754),  Brown University  (1764),  Dartmouth College  (1769),  Rutgers University  (1766), and the  University of Pennsylvania  (1740 or 1749). These universities were funded by the colony or England and usually catered to a specific religious denomination such as Congregational or Presbyterian (Puritan). Primary and secondary school systems were not yet established so “college students” were sometimes boys as young as fourteen or fifteen years old and were admitted to receive preparatory education with the assumption that they would matriculate to college-level courses

Pro & Con Arguments

Pro 1 Jobs increasingly require college degrees and college allows students to explore careers and earn better job placements. Only 34% of American jobs required a high school diploma or less in 2017, compared to 72% in the 1970s. During the recession between Dec. 2007 and Jan. 2010, jobs requiring college degrees grew by 187,000, while jobs requiring some college or an associate’s degree fell by 1.75 million and jobs requiring a high school degree or less fell by 5.6 million. According to researchers at Georgetown University, 99% of job growth (or 11.5 million of 11.6 million jobs) between 2010 and 2016 went to workers with associate’s degrees, bachelor’s degrees or graduate degrees. [ 13 ] [ 104 ] [ 105 ] Colleges offer career services, internships, job shadowing, job fairs, and volunteer opportunities in addition to a wide variety of courses that may provide a career direction. Over 80% of college students complete internships before graduation, giving them valuable employment experience before entering the job market. Colleges provide networking value. [ 27 ] Harvard Business School estimates that 65 to 85% of jobs are acquired through networking. College students can join fraternities and sororities, clubs, and teams as well as participate in a variety of social functions to meet new people and network with possible business connections. Internships offered through colleges often lead to mentors or useful contacts within a student’s preferred field. Many colleges offer social media workshops, networking tips, career-related consultation, and alumni networks. [ 30 ] [ 31 ] Meanwhile, college graduates have more and better employment opportunities. 85.2% of college freshmen said they attended college to “be able to get a better job.” The unemployment rate for Americans over 25 with a bachelor’s degree was 1.9% in Dec. 2019, compared to 2.7% for those with some college or associate’s degrees, 3.7% for high school graduates, and 5.2% for high school drop-outs. Underemployment, meaning insufficient work, is lower for college grads (6.2%) as compared to high school-only graduates (12.9%) and people without a high school diploma (18.7%). 58% of college graduates and people with some college or associate’s degrees reported being “very satisfied” with their jobs compared to 50% of high school graduates and 40% of people without a high school diploma. [ 11 ] [ 101 ] [ 106 ] [ 116 ] Thus, college graduates make more money. The average college graduate makes $570,000 more than the average high school graduate over a lifetime. Career earnings for college graduates are 71% to 136% higher than those of high school graduates. The Federal Reserve Bank of New York calculated a 14% rate of return on a bachelor’s degree, which constitutes a good investment. College graduates earn an average of $78,000, a 75% wage premium over the average $45,000 annual earnings for workers with only a high school diploma. 85% of Forbes’ America’s 400 Richest People list were college grads. [ 12 ] [ 122 ] [ 126 ] [ 128 ] And, because college graduates are more likely to have better jobs with better salaries, they are also more likely to have health insurance and retirement plans. 70% of college graduates had access to employer-provided health insurance compared to 50% of high school graduates in 2008. 70% of college graduates 25 years old and older had access to retirement plans in 2008 compared to 65% of associate’s degree holders, 55% of high school graduates, and 30% of people who did not complete high school. [ 11 ] [ 15 ] All of that means a college education has a high return as an investment. Return on investment (ROI) is calculated by dividing the gain from an investment (here the money earned as a result of a college degree) by the cost of the investment (the money spent on a college degree). A college degree has a return of 15% per year as an investment, larger than the stock market (6.8%) and housing (0.4%). Completing some college, but not earning a degree, resulted in a 9.1% return on investment. If a student spent $17,860 (the average cost of tuition and room and board in 2012-2013 for four years at a public university), that student could expect a 15% return of $2,679 each year. According to a 2011 Pew Research survey, 86% of college graduates believed college was a good personal investment. [ 8 ] [ 25 ] [ 32 ] [ 33 ] Read More

Pro 2 Because they learn interpersonal and other skills in college, graduates are more productive as members of society. Students have the opportunity to interact with other students and faculty, to join student organizations and clubs, and to take part in discussions and debates. According to Arthur Chickering’s “Seven Vectors” student development theory, “developing mature interpersonal relationships” is one of the seven stages students progress through as they attend college. Students ranked “interpersonal skills” as the most important skill used in their daily lives in a survey of 11,000 college students. Vivek Wadhwa, technology entrepreneur and scholar, states, “American children party [in college]. But you know something, by partying, they learn social skills. They learn how to interact with each other…They develop skills which make them innovative. Americans are the most innovative people in the world because of the education system.” [ 7 ] [ 16 ] [ 18 ] Students live, go to classes, and socialize with other students from around the world and learn from professors with a variety of expertise. The community of people on a college campus means students are likely to make diverse friends and business connections, and, potentially, find a spouse or mate. Access to a variety of people allows college students to learn about different cultures, religions, and personalities they may have not been exposed to in their hometowns, which broadens their knowledge and perspective. 70.7% of college freshmen in 2015 said they expected to socialize with someone of another racial or ethnic group while in college, while 59.1% said college would help improve their understanding of other countries and cultures. [ 106 ] Henry Bienan, President Emeritus of Northwestern University, argues that a college education results in “greater productivity, lower crime, better health, [and] better citizenship for more educated people.” A 2009 study found 16 to 24 year old high school drop-outs were 63% more likely to be incarcerated than those with a bachelor’s degree or higher. According to the Bureau of Labor Statistics, from Sep. 2008 to Sep. 2009, 43% of college graduates did volunteer work compared to 19% of high school graduates and 27% of adults in general. [11] In 2005, college graduates were more likely to have donated blood in the past year (9%) than people with some college (6%), high school graduates (4%), and people who did not complete high school (2%). [ 21 ] [ 22 ] [ 23 ] College graduates attract higher-paying employers to their communities. A 1% increase in college graduates in a community increases the wages of workers without a high school diploma by 1.9% and the wages of high school graduates by 1.6%. [ 21 ] Finally, people who do not go to college are more likely to be unemployed and, therefore, place undue financial strain on society, making a college degree worth it to taxpayers. Young people “not engaged in employment/education or training,” AKA NEET, are more likely to receive welfare than youth in general, they are more likely to commit crimes, and they are more likely to receive public health care, all costing the government extra money. In total, each NEET youth between the ages of 16 and 25 impose a $51,350 financial burden on society per year, and after the person is 25 he or she will impose a financial burden of $699,770. The total cost of 6.7% of the US population being NEET youth is $4.75 trillion, which is comparable to half of the US public debt. [ 28 ] [ 29 ] College graduates have lower poverty rates due to their lower unemployment rates. The 2008 poverty rate for bachelor’s degree holders was 4%, compared to a 12% poverty rate for high school graduates. In 2005, married couples with bachelor’s degrees were least likely to be below the poverty line (1.8%) compared to 2.7% of associate’s degree holders, 4.6% of couples with some college, and 7.1% of high school graduates. According to the US Census Bureau, 1% of college graduates participated in social support programs like Medicaid, National School Lunch Program, and food stamps compared to 8% of high school graduates in 2008. [ 11 ] [ 21 ] Read More

Pro 3 College graduates and their children are healthier and live longer. 83% of college graduates reported being in excellent health, while 73% of high school graduates reported the same. A University of Southern California study found that adults over 65 with college degrees spent more years with “good cognition” and fewer years suffering from dementia than adults who did not complete high school. In 2008, 20% of all adults were smokers, while 9% of college graduates were smokers. 63% of 25 to 34 year old college graduates reported exercising vigorously at least once a week compared to 37% of high school graduates. College degrees were linked to lower blood pressure in a 30-year peer-reviewed study and lower levels of cortisol (the stress hormone) by a Carnegie Mellon Psychology department study. In 2008, 23% of college graduates aged 35 to 44 years old were obese compared to 37% of high school graduates. College graduates, on average, live six years longer than high school graduates. [ 11 ] [ 15 ] [ 19 ] [ 20 ] [ 120 ] A medical journal study from 1970 to 2009 shows college graduates had lower infant mortality rates than high school graduates. Mothers with only a high school education are 31% more likely to give birth to a low-birth-weight baby than a woman with a college degree. Children aged 2 to 5 years old in households headed by college graduates have a 6% obesity rate compared to 14% for children in households headed by high school graduates. 18% more children aged 3 to 5 years old with mothers who have a bachelor’s degree could recognize all letters compared to children of high school graduates. In 2010, 59% of children in elementary and middle school with at least one college graduate for a parent participated in after-school activities like sports, arts, and scouting compared to 27% for high school graduate parents. [ 11 ] [ 15 ] [ 21 ] Read More

Con 1 College is not a guarantee of a job or better life. Many college graduates are employed in jobs that do not require college degrees. According to the Department of Labor, as many as 17 million college graduates work in positions that do not require a college education. 1 in 3 college graduates had a job that required a high school diploma or less in 2012. More than 16,000 parking lot attendants, 83,000 bartenders, 115,000 janitors and 15% of taxi drivers have bachelor’s degrees. College graduates with jobs that do not require college degrees earn 30-40% less per week than those who work in jobs requiring college degrees. [ 5 ] [ 6 ] [ 40 ] Too many students earning degrees has diluted the value of a bachelor’s degree. Rita McGrath, Associate Professor at Columbia Business School, stated “Having a bachelor’s used to be more rare and candidates with the degree could therefore be more choosy and were more expensive to hire. Today, that is no longer the case.” A high unemployment rate shifts the supply and demand to the employers’ favor and has made master’s degrees the “new bachelor’s degrees.” According to James Altucher, venture capitalist and finance writer, “college graduates hire only college graduates, creating a closed system that permits schools to charge exorbitant prices and forces students to take on crippling debt.” [ 68 ] [ 69 ] College degrees also do not guarantee learning or job preparation. Many students graduate from college with little understanding of math, reading, civics, or economics. In 2011, 35% of students enrolled in college reported they studied 5 hours or less per week and there was a 50% decline in the number of hours a student studied and prepared for classes compared to a few decades ago. 36% of students demonstrated no significant improvement on Collegiate Learning Assessments after 4 years of college. In 2013 56% of employers thought half or fewer of college graduates had the skills and knowledge to advance within their companies. 30% of college graduates felt college did not prepare them well for employment, specifically in terms of technical and quantitative reasoning skills. A Pew Research survey found that 57% of Americans felt higher education did not provide students with good value compared to the money spent. [ 25 ] [ 56 ] [ 57 ] [ 58 ] [ 59 ] [ 60 ] The market glut and lack of job preparation, means many recent college graduates are un- or underemployed. The unemployment rate for recent college graduates (4.0%) exceeded the average for all workers, including those without a degree (3.6%) in 2019. The underemployment rate was 34% for all college graduates and 41.1% for recent grads. The underemployment (insufficient work) rate for college graduates in 2015 was 6.2% overall: 5.2% for white graduates, 8.4% for Hispanic graduates, and 9.7% for black graduates. According to the Federal Reserve Bank of New York, 44% of recent college graduates were underemployed in 2012. [ 42 ] [ 101 ] [ 129 ] Under- or un-employement also translates into fewer workplace benefits. In 2013, 68.9% of employed new college graduates did not receive health insurance through their employers and, in 2011, 27.2% received retirement coverage (down from 41.5% in 2000). [ 41 ] The total cost of going to college means more than tuition, fees, and books; it also includes an opportunity cost which equals at least four years of missed wages and advancements from a full-time job–about $49,000 for a 4-year degree and $20,000 for a 2-year degree. [ 8 ] Read More

Con 2 Student loan debt is crippling for college graduates, their families, and society. Tuition has risen quicker than income, making college unaffordable for many and forcing students to take out loans. A Mar. 2017 study found that 14% of community college students were homeless and 51% had housing insecurity issues (inability to pay rent or utilities, for example), while 33% experienced food insecurity (lack of access to or ability to pay for “nutritionally adequate and safe foods”), though 58% of the students were employed and 42% received federal Pell Grants. From the 1986-1987 school year to the 2016-2017 school year, the average cost of one year of college (including room and board) increased for 4-year private schools (109.6%) and 4-year public schools (125.7%), while median family income only increased 10.0% between 1986 and 2015. From the 1976-1977 school year to the 2016-2017 school year, annual tuition rates rose for community colleges (173.1%), 4-year public colleges (271.2%), and private 4-year colleges (213.5%). [ 111 ] [ 112 ] [ 113 ] In spring 2023, there were over 17 million college students in the United States, and over 43 million borrowers owe a collective $1.75 trillion in total student debt. 45% of people with student loan debt say college was not worth it. 10% of students graduate with over $40,000 in debt and about 1% have $100,000 in debt. In Feb. 2018, undergraduate college graduates had an average of $37,172 in loan debt. According to the US Congress Joint Economic Committee, approximately 60% of college graduates have student loan debt balances equal to 60% of their annual income. Missing late for loan payments leads to lower credit scores and additional fees, worsening the debt problem. [ 36 ] [ 37 ] [ 107 ] [ 123 ] [ 133 ] [ 134 ] Further, student loan debt often forces college graduates to live with their parents and delay marriage, financial independence, and other adult milestones. 20% of millennials are homeowners, and most millennials say their student debt has delayed home ownership by seven years on average. Student loan borrowers delayed saving for retirement (41%), car purchases (40%), home purchases (29%), and marriage (15%). Fewer than 50% of women and 30% of men had passed the “transition to adulthood” milestones by age 30 (finishing school, moving out of their parents’ homes, being financially independent, marrying, and having children); in 1960, 77% of women and 65% of men had completed these milestones by age 30. [ 38 ] [ 39 ] [ 121 ] Student debt also overwhelms many seniors. Whether they co-signed for a child or grandchild’s education, or took out loans for their own educations, in 2012 there were 6.9 million student loan borrowers aged 50 and over who collectively owed $155 billion with individual average balances between $19,521 and $23,820. Of the 6.9 million borrowers, 24.7% were more than 90 days delinquent in payments. Almost 119,000 of older borrowers in default were having a portion of their Social Security payments garnished by the US government in 2012. [ 51 ] [ 52 ] Student loan debt may not be forgiven in bankruptcy and may not have the same borrower protections as other consumer debt. A study found 60% of people attempting to discharge student loan debt in bankruptcy were unsuccessful. Medical, legal, credit card, loan, and even gambling debt can immediately be discharged in bankruptcy, but getting student loan debt discharged is much more difficult and rare. Private student loans often do not have the same protections as federal loans like income-based repayments, discharges upon death, or military deferments. [ 61 ] [ 70 ] [ 71 ] College graduates aren’t the only ones overwhelmed by debt. Many students do not graduate and waste their own and their government’s money. About 19% of students who enroll in college do not return for the second year. Students who drop out during the first year of college cost states $1.3 billion and the federal government $300 million per year in wasted student grant programs and government appropriations for colleges. Overall, 41% of students at four-year colleges and universities did not graduate within six years: 41% at public schools, 34% at private non-profits, and 77% at private for-profits. Students who did not graduate within six years accounted for $3.8 billion in lost income, $566 million in lost federal income taxes, and $164 million in lost state income taxes in one year. [ 50 ] [ 117 ] Finally, student debt could cause another financial crisis. As of 2012 student loan debt was over $1 trillion dollars, and more than 850,000 student loans were in default. According to the National Association of Consumer Bankruptcy Attorneys, student loans are “beginning to have the same effect” on the economy that the housing bubble and crash created. Former Secretary of Education William Bennett, PhD, agrees that the student loan debt crisis “is a vicious cycle of bad lending policies eerily similar to the causes of the subprime mortgage crisis.” On Feb. 3, 2012, an advisory council to the Federal Reserve also warned that the growth in student debt “has parallels to the housing crisis.” As of Jan. 2013, the rate of default on student loans hit 15.1%–a nearly 22% increase since 2007. [ 61 ] [ 62 ] [ 63 ] [ 64 ] [ 65 ] Read More

Con 3 Many people would be better served learning a trade or pursuing work right out of high school. Trade professions are necessary for society to function, require less than four years of training, and often pay above average wages. The high number of young adults choosing college over learning a trade has created a ‘skills gap’ in the US and there is now a shortage of ‘middle-skill’ trade workers like machinists, electricians, plumbers, and construction workers. One survey of US manufacturers found that 67% reported a “moderate to severe shortage of talent.” “Middle-skill” jobs represent half of all jobs in the US that pay middle-class wages. According to the Bureau of Labor Statistics, “middle-skill” jobs will make up 45% of projected job openings through 2014, but as of 2012 only 25% of the workforce had the skills to fill those jobs. [ 53 ] [ 54 ] [ 55 ] Many people succeed without college degrees. According to the Bureau of Labor Statistics, of the 30 projected fastest growing jobs between 2010 and 2020, five do not require a high school diploma, nine require a high school diploma, four require an associate’s degree, six require a bachelor’s degree, and six require graduate degrees. The following successful people either never enrolled in college or never completed their college degrees: Richard Branson, founder and chairman of the Virgin Group; Charles Culpepper, owner and CEO of Coca Cola; Ellen Degeneres, comedian and actress; Michael Dell, founder of Dell, Inc.; Walt Disney, Disney Corporation founder; Bill Gates, Microsoft founder; Steve Jobs, co-founder of Apple; Wolfgang Puck, chef and restaurateur; Steve Wozniak, co-founder of Apple; Mark Zuckerberg, founder of Facebook. [ 43 ] [ 44 ] Read More

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College: Is It Worth It? Essay

We are told to “go to college” by family, media, and teachers, but we are never given an explanation on why it’s important for us to get a higher education. The importance of higher education is so we can obtain a career that can support our needs and wants. It’s also important because it gives you an advantage when trying to get a job. Employers require a higher form of education, which is necessary for our society to advance. There aren’t many jobs that accept people with a high school diploma as their highest form of education. Employers want people that know what they’re doing, and so does our society. In order for people to go into the career field they want, they need to go to college to learn everything that comes with that career. …show more content…

What we get out of the college experience, we use in our day to day lives. Even the things we think aren’t important or useful end up becoming helpful. The material we learn in college is fundamental when it comes jobs and life in general. We are taught to make choices. We are taught how the real world works, and how to turn our education into our way of life. “…the really significant education in thinking that we’re supposed to get in a place like this isn’t really about the capacity to think, but rather about the choice of what to think about.” (Wallace 199). Not only do we get a lot out of getting a college degree in what we want to do, but so does our society. There are requirements for every job for a reason. Jobs need people that specialize in just that career field. They want us to be passionate about what we do and more importantly know exactly what we are doing. For example, hospitals have no room for mistakes because not only may it cost a life, it can also costs them money. We feel safer knowing people know how to do their jobs right. College education is necessary whenever there is a shortage in certain careers. It’s important to have higher education so there can be growth and competition in our society. It takes money to make money. It does cost a lot to pay for college, but in the end it’s worth it. By the end of the college process, we can have a college degree and could be getting

Why Is Caroline Bird College Is A Waste Of Time

The whole idea that students don’t really need a college education in today’s society is questionable, because employers will often hire someone based on whether or not they have a degree, as well as their past experiences. In many cases today, the people that are making a reasonable amount of money either have a college degree or invented/discovered something that ended up making them wealthy. If you’re one of the lucky few who have invented or discovered something of significance, then you may not need a college degree. For the many of us who aren’t as fortunate, however, a college degree is a

There are many options and paths someone can take in choosing to go to college or not but a question to ask is, is it worth it? If the decision is made to go to college then one of the first things to decide on is an area of study and then looking into where that topic of study is available, which can be a big undertaking. Some options that are out there are a four year college, community colleges and vocational or technical schools. Another option would be not going to college at all, but ask

Analysis Of Are Too Many People Going To College Essay

Ever since we were young, we have always heard how college is the only way to excel in a career and make more money. However, people need to realize that not all college degrees are comparable. If someone wanted to become a fire fighter, then college may not be a necessity. However, if you wanted to become a lawyer or a doctor, then college is essential to follow in this career path. Undoubtedly a person with a college degree can make up to

College Is Worth It Essay

There are many benefits to obtaining a college degree. Having a college degree is worth the expenses and two or more years put into getting it. A college degree can help with getting a well paying, enjoyable job in the future. Having a well paying, enjoyable job is important in one’s success. Which means that having a degree is important. If you listen to me, and go to college, then you can get your dream job, even if you have to put in a little extra time and

Why Is College Important To Me Essay

I believe in order to have a successful career, you must go to college. When you have a degree, you have many more jobs to choose from (U.S Dep. of Education, 8). Employers would choose a college graduate over a high-school graduate. In the modern world, most good jobs require a college degree (Middle Schoolers: Why College?, 1). Having a degree insures that I can get a job with the competitive world we live in. A college degree also shows that you have persistent. It shows that you will push through when times get tough. Future employers look for this sort of mind-set. College is a stepping stone into joining a work

Attending College Cause And Effect Essay

One important reason going to college is to make better career. Many colleges provide student intern locally on their own majors. It is a great chance to get experience in real job practical knowledge during the degree program. So, they can develop their skills before complete degree. After finishing the degree, high ranking companies offer job by on campus hiring program so, it is a great chance to get a better job as well as higher pay. without a college degree is harder to get a good job with high salary. Even though, people have great working skill, they miss a lot of opportunity because of not having a degree certificate. For example, we can see many

Is College Worth It Essay

Individuals are told to enroll in college, being important to have a higher education and find a career that can improve the many opportunities students have on finding an advanced profession, but the question is: Is college worth it?

Essay On If College Is Worth It

As we all pretty much know, college is a very big deal and the stepping stone for the real world, but there has been many controversies on whether the cost adds up or not. After graduating high school the choice is yours and you are held accountable for the decision that you want to make to have a career or just a job. College although it does take time, money, and effort, in a long run it will all be worth it when the individual is successful and knowledgeable.

The Importance Of College Sucks

Society has established in our minds that it is extremely important for us to go to college if we want to succeed in life. School as we know is not for everybody. Some of the most successful people in this world did not go to college including George Washington who is one of our founding fathers. People feel that college is the only way in which they can reach their dreams which is not true. With hard work and dedication you can go as far as you want in life. In college you learn what they give you to learn. Many of us just go to college because “it’s the right thing to do”. It gives you a title and nothing more. You can learn what you are doing at college with a simple click of a button at home. The Times had reported last spring that about fifty five percent of college graduates are working in jobs that need a college degree. (thechoice) These young college graduates are not developing

Why Is College So Important?

Why is college so important? A few years ago, most people only obtained their high school diploma and would receive any job in the market, but colleges have become the twenty-first century key to success. Jobs are now being given to those who are more educated and college provides this extra education. It is not the same as high school. High school education consists of a more general knowledge, which is a small amount of information about all the topics, but college is focused on the major. College graduates have more comprehension in their area than those with a high school diploma. As President Theodore Roosevelt once said, “A man who has never gone to school may steal from a freight car; but if he has a university education, he may steal the whole railroad.” (Chicago Tribute). His point is that the more educated a person is; the higher goals they can obtain. College is the best way to succeed because it provides more education about deeper knowledge and moral value. It also opens up more job opportunities, and practical knowledge about the discipline and enlightened understanding.

Essay On Is College Worth It

Furthering your education in this world is important. Going to college is very beneficial to society because it helps the country run smoother. Some reasons people believe everyone should attend college are that college graduates tend to make more income than a non-college attendee, more companies and businesses require you to have a degree to your name to work for them, and you are more likely to have a better health care insurance and retirement plan. But others tend to feel like college is not isn’t worth the time of day. Others who believe in not attending colleges usually have reasons like it takes too long to pay off your student loans and debt, recent college graduates are underemployed or struggle to find work, and many students who attend colleges and universities tend to drop out and wastes their own and government money.

College Essay : Is College Really Worth It?

One question that pops up a lot asks, “is college really worth it?” This can be a difficult question to answer, but it shouldn’t be because college is absolutely worth every dime. Carlson (2013) noted, “There has been a lot of evidence to suggest that college is indeed worth it, and plenty of studies and pundits lining up to tout the evidence.” The average total cost of a bachelor’s degree in 2012 ranges from $22,300 to $43,300 at public and private institutions respectively. Yes, this is a rather large amount of money, but the value of education is priceless. More and more high school graduates are deciding to attend college and that is a great thing. Money shouldn’t be the deciding factor whether someone decides to attend college or not. The main reason why people attend college is to have a better chance of success. A college degree is the main key to success because it provides better and more job opportunities, creates a healthier lifestyle, and establishes a well- rounded society.

Why Is It Important To Have A College Education

To compete for good jobs in today’s society it is almost necessary to have a college degree to even be considered. According to the Bureau of Labor Statistics data, “Students with a college education were twice as likely to be employed as those with only a high school diploma.” (Stop Scaring Students) That means if a person with just a college degree was competing with someone who just has a high school diploma, they are twice as likely to get the job. While most people believe you can get a good profession without a college education, using examples like Steve Jobs who doesn’t have a college degree, you need a lot of intelligence and a strong will to invent something everyone wants. A college degree knocks out the competition and puts students first in line for any job students want, in most cases. A higher education makes landing jobs, getting promotions, and moving up the corporate ladder much easier. It opens

Why College Is Becoming More Expensive

Many people attend college for a higher education and to find a career within their interest. Despite the fact that college is becoming more expensive and many people are not on a full ride scholarship have student loan debt, a college education is necessary. College has the ability to help build skills for a specific career or job. It also teaches students how to get involved with other students and to network. College can open doors for a poorer family. Many jobs today that don 't require any college experience don 't pay enough money for opportunities in life. It prepares you for adulthood, and gives you and open mind and knowledge about the real world.College is necessary and beneficial for a person 's life.

Why College Education Is Important To Me

Having a college education is the gateway to better opportunities. It not only provides you with the skills in order to set a foundation, but it leaves room for growth, more money, and more knowledge. I believe that living in the society we live in today; I can’t survive financially with just my high school diploma. According to the article “Importance of Education by Jeff McGuire (2012) he states that “As opposed to

Experts discuss whether college is still worth it

Subscribe to the center for economic security and opportunity newsletter, gabriela goodman gabriela goodman senior research assistant - economic studies , center for economic security and opportunity.

December 13, 2023

This is a summary of an event held on December 7, 2023. You can watch the full video of the event here .

Higher education has historically been seen as the most reliable path to economic mobility. However, with uncertainty around student loan programs, high sticker prices, and growing distrust in institutions, Americans are increasingly questioning whether college is still worth it.

On December 7, 2023, the Center for Economic Security and Opportunity (CESO) hosted a virtual panel moderated by Sarah Reber, a CESO senior fellow, to discuss the value of higher education and returns to obtaining a college degree. Below are some key takeaways.

Attitudes toward higher education have shifted.

Paul Tough, a contributing writer at the New York Times Magazine where he has written about these trends, started the discussion off by summarizing changing attitudes toward higher education: Ten years ago, 74% of young adults agreed that higher education is very important, down to only 41% today. This shifting perspective is manifesting in declining college enrollment, explained Tough. The number of U.S. undergraduates has declined to 15.5 million from 18 million in 2010.

Tough attributed this trend to two primary causes. First, trust in institutions is falling, and higher education is no exception. This is particularly the case among conservative voters who perceive colleges as pushing a liberal political agenda. Second, people are worried about the financial risk associated with high college costs and low completion rates.

Research suggests that average returns to college are still high.

David Deming, Harvard University Professor of Political Economy, explained that after increasing for decades, the college wage premium—the difference in average earnings between college graduates and non-college graduates—has plateaued, but remains around 65%. That is, the average four-year college graduate earns about 65% more than the average high school graduate.

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The panelists also discussed the cost of going to college, noting that financial aid is available for qualifying low-income students, though it is not always enough to make college affordable. Stephanie Cellini, George Washington University Professor of Public Policy and Economics, pointed out that while the average posted “sticker price” of college has been rising, the “net price”—what students pay after subtracting out financial assistance that doesn’t have to be repaid—is lower than the sticker price that receives so much attention. She notes that the average sticker price has actually been decreasing in recent years. (See a recent discussion of that trend here .) Still, Cellini emphasized that many students have to take out loans to afford college and then struggle to repay these loans.

Denisa Gándara, Assistant Professor of Educational Leadership and Policy at UT Austin, added that higher wages are not the only benefit of college attendance. For example, there is a growing body of evidence suggesting that college graduates have better physical and mental health. Society also benefits when people go to college; college graduates tend to be more civically engaged, reported Gándara.

Returns vary by institution.

Cellini said that some colleges, particularly for-profit institutions, are riskier than others. For-profit colleges are generally more expensive than non-profit or public alternatives and don’t increase earnings as much. As a result, students who attend for-profit institutions tend to have higher debt and are more likely to default on their student loans. Gándara expanded on this point, saying that for-profit institutions enroll a disproportionate number of low-income, veteran, and older students. This disparity means that it is often students from more disadvantaged backgrounds that attend schools with lower returns.

Starting but not completing college can make students financially worse off.

Tough pointed out that about 40% of students who start college don’t complete their degree. These students often end up in a worse financial position than their peers who chose not to attend college in the first place.

Our college institutions are in desperate need of reform. David Deming, Harvard University Professor of Political Economy

Deming agreed that completion is too low and suggested that lack of resources at many colleges is a major part of the problem. Student support services are particularly important. As Gándara mentioned, public and other less well-funded schools enroll more low-income students—exactly the types of students who could benefit more from stronger support systems.

Community colleges have limitations but can be an affordable alternative to four-year institutions. 

Panelists pointed out the value of community colleges, an oftentimes more affordable option than traditional four-year colleges. Students can start at community college and transfer to a four-year college. However, as Deming noted, transferring from community college to a four-year college is not necessarily a smooth process. Additionally, he added that short-term programs often lead to shorter-term benefits and fewer transferable skills. Both Deming and Cellini touched on potential benefits of “stacking” credentials, meaning using multiple educational programs such as vocational training and traditional degrees to build a more comprehensive skillset and knowledge base.

Where do we go from here?

The panelists described a number of approaches to increasing the returns to college and improving college completion rates. Cellini mentioned initiatives to hold schools accountable for their students’ outcomes. Both Cellini and Tough proposed efforts to make information about financial aid and college choices more easily accessible and digestible, though Tough argued that some policy discussions have over-emphasized helping individual students navigate a too-complex system at the expense of more systematic change that would make higher education fairer. Deming suggested expanding government subsidies to make college more affordable. The panelists agreed that community colleges require more funding.

So, is college still worth it?

The consensus among the panelists: College is worth it for most people, with some caveats. Institution type and area of study both impact the returns to college, as do academic preparation and risks associated with not completing a degree. “The system is not fair,” Tough added.

There are actions society can take to make college pay off for more people. “Our college institutions are in desperate need of reform,” concluded Deming. As reiterated throughout the panel, the U.S. college system disadvantages low-income students, often leaving them with substantial debt while providing insufficient support systems to help them succeed.

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Is College Really Worth It? Expert Cost-Benefit Analysis

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With tuition rising every year, more and more students are asking themselves, "Is college worth it?" Many people believe that getting a college education is an important part of becoming a successful adult. Others, however, find it difficult to justify the increasing investment necessary to earn a degree. There’s no one path that’s right for everyone, and it can be difficult to think critically about the decision to go to college when you’re feeling pressured one way or another.

There’s no simple answer to this question, but  there is a rational way to think about whether college is the right path for you . Just as with any investment, you want to think about the relationship between what you put into it (like money, time, and effort) and what you get out of it (like education, networking, and career opportunities). The more you get out of it as compared to how much you put in, the better the investment.

In this post, I'll go through all the potential benefits and drawbacks of pursuing a four-year bachelor's degree so you have all the information to decide for yourself whether college is worth it. 

A Bit of Background on the Value of a College Degree

Before we get started, I want to fill you in on the how the worth of a college degree has changed over time. This way, you'll have a better framework for understanding whether a degree may (or may not) be worth it for you. 

Since the mid-20th century, the US population has become increasingly educated - simply put, more people are getting bachelor's degrees. In this graph from the US Census Bureau, you can see how the percentage of people with BA degrees has increased from 4.6% in 1940 to 32% in 2015 :

There are many reasons why we've seen these educational attainment changes over time, including:

• The decline of manufacturing jobs , especially for unskilled workers.
• Employers seeking college graduates for positions that didn't previously require a bachelor's degree.
• Government subsidies in higher education, making college more affordable (until costs rose to meet demand, thereby making college more expensive ).

Overall, there are a lot of financial and political factors that have influenced this significant and prolonged shift in how people view college degrees: now, it's often considered difficult to get a well-paying job (or any job, really) without a college education . 

That doesn't mean, however, that going to college is always the smart thing to do. It's a big decision, and it's one that warrants some critical thought. To help you think about whether college is worth it for you specifically, let's jump right into the good stuff: the possible investments you have to make to get a college education and the possible benefits you reap as a result. 

What You Put In: The Costs of College

If you're thinking about pursuing a college degree, you'll have to make some sacrifices. The following factors are what I consider to be investments in a post-secondary education. The extent to which these investments affect you depends on your own unique situation , so I'll explain how to think critically about these issues in each section. 

Overall, the major investments you would have to make in a college education are money, time, and effort. Let's see exactly how these might affect whether college is a worthy investment. 

The amount of money that you invest in your education depends on so many factors: your specific school, your financial need, your academic strength, potential scholarship winnings, etc. 

In general, the less money you have to pay for school, the better an investment your education will be . However, even an expensive degree may be well worth it if it pays out in the long run (I'll talk more about that in a bit). 

Tuition is the most obvious cost associated with attending college, but you also have to worry about room, board, books, personal expenses, and transportation. For more information on all the nitty gritty details of educational expenses, check out our college costs guide . 

The financial investment you'll make in pursuing a bachelor's degree is perhaps the most important investment to consider . The average US college grad leaves school with a pretty significant amount of debt - debt that's sometimes very difficult to overcome. There are ways to make your college education more affordable , but sometimes it's tough (or even impossible) to get those expenses down to a comfortable amount. 

Most people take four years to complete a BA degree. Depending on your career goals, this may represent an opportunity cost - basically, you might be losing out on other valuable opportunities (to gain job experience, make money, or both) because you're spending these four years in school and out of the work force.  

A college education is definitely valuable to many employers, and it's correlated with higher earnings later on in life (I'll talk more about this soon). But building work experience in a particular field, in addition to building wealth, is also valuable - giving up on those opportunities is an investment (or a sacrifice) that you make in order to get a degree. 

It’s easy to sleep in and skip classes once you have the freedom and independence of a college student. But you’re already investing time and money into your education, so it’s important to make the most of it while you’re there.

Building a strong educational background and making professional and personal connections (important benefits of getting a degree) doesn’t just happen - it takes work, and it can sometimes be stressful . It also may involve doing things you don't necessarily want to do, like taking required courses or completing uninteresting assignments. It's important to honestly consider these challenges (and whether you're up to them) before committing yourself to school, especially if it comes with a hefty price tag. 

What You Get in Return: The Benefits of College

You might be feeling a bit iffy about pursuing a degree at this point, but don't stop reading just yet. There are so many potential benefits that come with a college education.

The major benefits I see that come with a BA degree (although there can be many more) are increased employment opportunities, higher income, networking opportunities, personal development, and learning experiences. 

Employment Opportunities

Colleges and universities are recruiting hubs for many industries. When you study at a college or university, especially one that's well ranked, there are often opportunities to  meet with corporate employers who come directly to your school to hire students. There are also  internship opportunities during summers for that could lead directly to full-time employment post-graduation. 

Employment opportunities offered through colleges and universities extend beyond the corporate world and into academia and professional fields.  Any profession that requires a graduate degree ( e.g. law, medicine, sometimes business) or is centered around research (basically any job in academia) requires a BA degree first and foremost . 

Higher Income

On average, people with college degrees make more than people without college degrees . E ven though you may sacrifice income opportunities in the short term by seeking a degree, you’ll likely end up making more in the long run. T his is especially true for people who go into STEM fields . 

Employers may also assume you’re better qualified for higher-paying jobs if you have a degree. Some jobs may require a BA even if your degree isn’t related to what you’d be doing on the job.

Networking Opportunities

In a college or university setting, you’ll build a network of friends, but you’ll also develop a network of acquaintances, instructors, staff, and alumni. With these networks, it’s a lot easier to get personal and professional help.

These connections can serve you in many different ways, especially after you graduate. Here are some ways that a college or university network may come in handy: 

• You move to a new city and need to find a roommate.
• You’re exploring a career change and want to chat with someone in a particular field.
• You need some professional guidance or a letter of reference. 
• You’re looking for a new job.

Harvard Business School estimates that 65-85% of jobs are obtained through networking  - if nothing else, it's a huge help when it comes to getting your foot in the door. 

You don't even have to know very many people personally to benefit from a college or university network - alumni networks are a great example of this. 

Personal Development

This benefit is a bit more subjective than some of the other ones I've mentioned so far, but I think it's just as important. People's experiences will definitely vary based on where they go to school and the extent to which they participate in student life - in general, though, here are the ways you can expect to grow and develop on a personal level with a college education: 

• Get exposure to diverse people and ideas . Meeting people with different backgrounds and perspectives results in greater open-mindedness and a more flexible worldview. One study showed that when people have BA degrees, they're more likely to believe that it's  “very important to try to understand the reasoning behind others’ opinions."
• Meet long-term friends . You, of course, don’t have to be at college to make good friends. What’s special about a college environment, though, is that you’re living and working with hundreds or even thousands of people who are around your age, probably for the first and only time in your life. It’s sometimes more difficult to make friends as you get older - a college is a pretty golden opportunity to meet people.
• Develop personal and professional interests. Many  students head off to school with no idea what they want to do with their lives. College gives you a chance to try out different fields, especially if you attend a school with a flexible curriculum.

Many schools (especially liberal arts colleges and universities) work to produce global citizens: well-rounded students who can be thoughtful and active participants in an increasingly globalized society. You can, of course, learn about things on your own, but college is really an ideal environment to do this - you have a structured learning environment, you're surrounded by intellectually curious peers, and you have access to experts in many fields. 

There’s a lot to learn out there besides what you’ve studied in high school, and  colleges offer courses on topics that you wouldn’t otherwise have access to . For example, you might want to explore world languages, niche humanities subjects, or specific and advanced STEM fields - all things that are difficult to study outside of a college campus. 

The thing I see as the biggest educational benefit to attending college is the access to professors, people who have dedicated their lives to research and teaching in a very specific field.  Access to these faculty members is especially helpful for students who are considering an advanced degree. 

When College May Not Be Worth It

If you have any desire to go to college, I strongly encourage you to consider it. Overall, I believe that a college degree comes with more benefits than drawbacks. Of course, there will be many exceptions and individual differences - here, I'll go over some situations where getting a college degree may not be worth it. 

I t's OK (important, even) to consider whether college makes sense for you, even if you've always assumed that you would go to college no matter what.

If a Degree Won't Lead to Professional Success

College offers a lot of professional, personal, and intellectual benefits. Even if you’re not sure what you want to do after college, a degree will afford you some flexibility. But you don’t have to go to college in order to be successful - depending, of course, on what career options you’re considering ( budding entrepreneurs , for example, may benefit more from real-world experience than from a college education). Some people argue that you can be just as successful with self-directed learning as you can be with a college degree. 

If you know you can graduate from high school and immediately start working towards your chosen career path, college might not be the best choice for you. Alternatively,  if you’re interested in a career that requires trade or vocational school, it might be smarter to apply to those programs instead of applying to a four-year program . This way, you can work toward building professional experience earlier rather than later.

If You Can't Afford It

The total Cost of Attendance at private colleges can come to over $200,000. If you’re responsible for that entire cost and you’re not sure if you can recoup the investment post-graduation, a degree may not be worth it.

If the expense is preventing you from looking into a college education, however, there are some options you should consider before making a decision:

• Not all schools charge $200,00 for a four-year degree. Many institutions are much less expensive (for example, public schools tend to offer subsidized tuition to state residents).
• There are many federal financial aid programs available for students attending almost any college or university in the US, and you only need to submit one (free) application . Learn more about the Pell Grant program and Perkins loans .
• If you're a high-achieving student, you might qualify for generous merit aid if you apply to particular schools. Learn more about colleges and universities that give great merit aid .
• If you think you might qualify for need-based financial aid , you can seek out schools that provide generous funding for lower-income students. Read more about schools with top need-based financial aid  programs. 
• You can apply for scholarship awards , which are great sources of education funding for many students. Learn more about finding and winning local awards , and check out the top scholarship programs for high school juniors and seniors . 

If money is the only thing holding you back from getting a degree, I urge you to check out these other funding options. You don’t have to be rich to go to college, and a degree doesn’t have to mean crippling expenses. To read more about paying for college, check out these guides: 

• The four different kinds of financial aid 
• How to pay for college: complete guide  
• How to pay for college without your parents' help
• How to pay for college without loans

If There Are Other Things You Want to Do First (or If You're Unsure)

College is a big commitment - if you want to pursue a degree full-time, you’ll be hitting the books for nine months out of the year. Y ou may want to do other things with your time after you graduate from high school before heading off to college,  like get professional experience, travel, or volunteer. 

The bottom line is that you can always postpone the college application process if you have other priorities or even if you want to take time to decide whether college is right for you. You don’t have to go to college right out of high school . 

Keep in mind that many schools allow you to defer acceptance . It might be easier to work through college applications when you have the support of a guidance counselor and when it's easy to ask teachers for letters of reference. Even if you decide to apply while you're in high school, it's possible to postpone attending the school of your choice for a year or two (or even forever, if you decide it's not right for you). 

Conclusion: Is College Worth It?

Overall, college is a pretty good investment - many students who pursue a bachelor's degree end up reaping the benefits, whether they're financial, professional, or personal. But many others pursue a degree without spending some serious time thinking about whether it's a smart choice. 

You may feel that you should go to college if you want to be successful. As I mentioned earlier in this post, there are many circumstances where a college degree doesn't exactly make professional, financial, or personal sense (at least not at this very moment). It's important that you know it's okay to postpone such a big decision if you remain unsure.

If you do decide to take time to pursue an alternative path, remember that it's important to use your time wisely (else you're subject to the same types of opportunity costs that I mentioned earlier in the post). Building professional experience or engaging in self-directed learning are definitely not easy alternatives to a college education - they're just different. 

Whatever you decide to do - good luck! 

What's Next?

One big part of the college application process is standardized testing. If you're researching whether college is a good choice for you, it may be helpful to learn more about whether these tests in any way predict future income . Some people even think that the ACT and the SAT have the power to predict success more broadly. 

If you're worried more about what the whole college application process will look like and you hope to plan around that, we've got you covered - check out our complete timeline for applying to college .

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Francesca graduated magna cum laude from Harvard and scored in the 99th percentile on the SATs. She's worked with many students on SAT prep and college counseling, and loves helping students capitalize on their strengths.

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Is College Still Worth It? Yes, Here’s Why

Lead Higher Education Analyst

Higher Education Research Analyst

• While a college degree is no longer required for many well-paying jobs, it may improve your chances of landing one.
• College enrollment has decreased as students seek alternatives, such as bootcamps and other nondegree credentials.
• The ROI of a bachelor's degree varies based on the institution and field.
• On average, college graduates earn $1.2 million more than high school graduates over a lifetime and typically have more career flexibility.

For an increasing number of high school students, it's the $64,000 question: Is getting a college degree worth it?

As in $64,000 per year — or more — at many private colleges.

In most cases, "worth it" refers to the financial return on investment (ROI), reflected largely in the starting salary offered right after graduation. Despite all the conversation about culture and values and citizenship and democracy , students attend college primarily to get good jobs .

Historically, the answer to the question of whether a bachelor's degree is worth it has been a resounding "yes." Today, it's more like, "Yes, but it also depends."

College Alternatives Abound as Fewer High School Grads Pursue Degrees

Let's get one thing straight right away: You don't necessarily need a college degree to land a decent job: one that pays a respectable wage and promises career advancement.

You can work for your state government, for instance. A dozen states – including Virginia, Maryland, Colorado, Pennsylvania, and Florida – don't require a bachelor's degree for many state jobs.

Several top companies such as IBM, Accenture, Dell, Google, General Motors, and Apple don't require applicants to have college degrees for many of their positions. Growing sectors like leisure and hospitality, construction, manufacturing, and warehousing also offer jobs that don't require a degree and generally pay well.

Quick Guide: Pros and Cons of Earning a Bachelor's Degree

• Increased earnings — a 25% wage premium
• Career flexibility — more long-term opportunities to climb the ladder or change professions
• Advanced degree options, including MBA , law school, medical school
• Alumni networks — professional contacts for job hunting and career advancement
• Enhanced critical thinking and problem-solving skills
• Breadth of knowledge across fields in addition to depth in chose area of study
• Self-awareness of personal strengths and career goals
• Opportunities to pursue a passion, create a better life, or discover your purpose — according to college students
• Cost — nearly $150,000 over four years, on average
• Student loan debt — averaging over $30,000 for a bachelor's degree
• Opportunity cost, or potential lost earnings from not working
• Unnecessary for many jobs, including some government and tech positions
• Some fields offer poor ROI
• Curriculum can be outdated, offering poor preparation for job market

How about an apprenticeship , a gateway to careers in fields such as healthcare, information technology, cybersecurity, financial services, and graphic design? They've certainly become more popular, increasing in number by more than 50% in recent years.

Then there are various alternative pathways in the form of nondegree credentials — certificates, badges, coding bootcamps, occupational licenses, vocational training, and so forth.

You don't, in other words, have to march lockstep from high school to college to career in order to make a good living. So more students are choosing not to. The college enrollment rate among recent high school graduates is down to 62%. Just before the pandemic, it was 66.2%. And in 2009, it was over 70%.

Community colleges, in particular, have been hit hard, losing 40% of their enrollments during the past decade. Fewer than 1 in 3 community college students will ever find their way into a baccalaureate program , anyway.

Does School Choice Matter When It Comes to College ROI?

According to a report by the Institute for Higher Education Policy , 83% of schools — serving 93% of undergraduates — provide an ROI within 10 years. That means that within 10 years, students recoup what they would be making with a high school diploma plus the cost of their college degree.

However, there's a slim minority of schools — comprising mostly private for-profit and nonprofit colleges — that don't meet this threshold.

Complicating matters for colleges is today's relatively healthy economy . The unemployment rate for teenagers dropped to a 70-year low of 9.2% in April, resulting in higher wages for workers.

For many seniors and recent high school grads, college is no longer the most attractive option.

"If you can get [a job] without a BA and with decent wage growth," said ZipRecruiter chief economist Julia Pollak in The Wall Street Journal , "why go get a BA?"

So, Why Get a Bachelor's Degree?

Because it offers not only short-term gains but long-term value. That's why.

Of course, it depends on where you study and what you study. Not all bachelor's degrees are created equal.

That's the essential finding of a 2023 Workday report, " Making the Bachelor's Degree More Valuable ."

According to the study, earning a BA (or BS) results in a 25% wage premium within a year of graduating. Even if a job doesn't require a BA, those who have a degree realize a 15% boost over those who don't.

More important, perhaps, are the long-term gains. Having a BA provides graduates with greater career mobility, increasing the likelihood of landing better jobs and recovering from initial underemployment. The report's authors call this the BA's "secret sauce."

Bachelor's Degrees May Provide Greater Career Mobility

Per the Workday report, after five years in a degree-optional job, bachelor's degree recipients are twice as likely as non-degree holders to switch to jobs where degrees are more common.

In other words, having a bachelor's degree may open opportunities to move up in your career, even if you don't start out in a job that requires a degree.

At the same time, the payoff depends on where you went to college and what you studied. Degrees from selective universities offer more value than those from less-selective institutions, although any bachelor's degree affords graduates a wage advantage.

And majors matter. A science, technology, engineering, and math (STEM) degree carries more value than a liberal arts degree. Even if your tech or engineering degree is from a less-selective institution, you can earn more than business, social science, and health science graduates from top universities, at least in the short run.

College Majors Matter

According to the Federal Reserve Bank of New York, graduates earning the highest-paying college majors make early-career median wages of $70,000-$80,000. The lowest-paying majors make nearly half that.

Highest-Paying College Majors

• Computer Engineering - $80,000
• Chemical Engineering - $79,000
• Computer Science - $78,000
• Aerospace Engineering - $74,000
• Electrical Engineering - $72,000

Lowest-Paying College Majors

• Liberal Arts - $38,000
• Performing Arts - $38,000
• Theology and Religion - $38,000
• Leisure and Hospitality - $39,700
• Anthropology - $40,000

Yet despite these inherent benefits, the BA faces an "identity crisis," the Workday report suggests. Young adults are hearing "mixed messages" about the need for degrees and their potential ROI. In turn, colleges can't "continue to coast on the historical value of the BA" and must make the degree more valuable in a marketplace brimming with viable alternatives.

To do so, colleges should offer degrees embedded with "foundational" and "specialized" skills. Foundational skills include negotiation, leadership, and innovation, among others, while specialized skills differ by field. A public administration major with skill in investing, for example, can realize a wage premium, the report says.

The notion of adding practical, in-demand skills to traditional degrees isn't exactly novel, of course. Several liberal arts colleges are offering students opportunities to complement their degree programs with certificates and other micro-credentials in fields such as software design, photonics, and cybersecurity to make them more job-ready.

"We don't want to lose the richness of the liberal arts," John Petillo, president of Sacred Heart University, told The Washington Post . "At the same time, we want to prepare you for life out there."

So Is College Worth It?

Ultimately, the answer depends on each individual's circumstances and personal goals. Do you want to be a doctor or a lawyer? If so, yes, you need a degree. Do you seek steady employment in a dynamic field with career growth potential? If that's your goal, then the answer is "maybe."

Yet in aggregate, the answer is unequivocally "yes." Even ignoring intangible benefits such as self-awareness, critical-thinking skills, alumni networks, and yes, cultural literacy, the ROI of a college education, measured in earnings, routinely exceeds the cost.

On average, college graduates have just over $37,000 in student loan debt. For graduates of public universities, it's about $27,000 .

School Choice and Student Loan Debt

The school you choose could make a difference in how much student loan debt you take on for your degree.

If you're trying to make the most amount of money with the least amount of student loans, consider that public, in-state colleges tend to be more affordable. Also, many selective private, nonprofit universities offer scholarships to students whose income qualifies.

While the average amount of student loan debt is certainly significant, consider that the average price of a new car is $48,000. Such an investment depreciates over time, while a degree, for most, only grows in value.

How much value does a degree offer? Georgetown's Center on Education and the Workforce (CEW) noted in 2021 that workers with bachelor's degrees earned $1.2 million more than high school graduates over a lifetime. And the BA offers an $800,000 advantage over the associate degree.

That said, according to the Georgetown report, earning an AA from a community college provides a $400,000 bump over a high school diploma. Per the Bureau of Labor Statistics (BLS), associate degree-holders earned $159 more a week on average than high school grads in 2023 and had an unemployment rate of 2.7% compared to 3.9% for those with only diplomas.

If you tack on a professional degree to your bachelor's, you'll earn a whopping $3.1 million more over a lifetime than your peers with only a high school education.

In General, More Education = More Dough

According to the BLS, workers' median weekly wages increase with every level of educational attainment.

What's more, in 2022, CEW's Anthony Carnevale and Nicole Smith estimated in The Hechinger Report that 43% of all jobs and 66% of "good" jobs will require a BA or higher by 2031. Only 16% of jobs won't require a degree.

"The bachelor's degree still offers the best chance for people to secure sustainable economic opportunity," Carnevale and Smith wrote. "The bachelor's degree is not the only pathway to the middle class, but it is the most reliable route."

Still, increasing numbers of young adults are finding alternatives more palatable, at least delaying college awhile as they navigate career possibilities without a degree. Colleges are having an identity crisis, struggling to remain relevant as new industries emerge and demand ever-changing skills from employees. Meanwhile, tuition costs continue to rise, as do student debt burdens.

As a result, dozens of marginal colleges have closed or merged over the past half-dozen years, and an ominous enrollment cliff looms on the near horizon, a certain death knell for institutions teetering on the financial precipice.

Colleges and universities offer a transformative experience and — by most measures — a valuable commodity in the form of their most popular product: the bachelor's degree. The answer may be different in years to come, but for now, the credential remains worth it.

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Is college worth it? 3 reasons it is (and 3 reasons it isn’t)

• A bachelor’s degree is widely considered a golden ticket to social mobility, yet ballooning tuition costs place it out of reach for many.
• Prescribing college as the default path simply won’t work for many people.
• Is college worth it? There are three major factors for you to consider. 

Is college worth it? For many, the answer is a no-brainer: Of course it is! 

The college degree has become the totem of the middle class and a prerequisite for social mobility . To not earn one, the common knowledge goes, is to throw your life away. Even asking the question aloud is enough to send starchy parents and career coaches into fits of worry.

But as with any prescription, treating college as a universal cure-all has its dangers. College isn’t for everyone, and discovering that it isn’t for you can be an expensive and time-consuming lesson. Thirty-six million Americans have some college education but no degree, and those that borrowed money to attend, as many do, must still pay back their loans. Universities do not come with a satisfaction guarantee, let alone a money-back one. In fact, the opposite is true . 

That makes college a sort of gamble — especially for low-income students who lack the familial safety net of their upper-class peers. Given that a quarter of low-income students leave by the end of their second year, it’s also not a bet one wants to make haphazardly.

So, it’s not contrarian to wonder if college is worth it for you. Answering that question can be a difficult task, one that requires you to carefully consider your present situation and future goals.

To help you start that discussion — either for yourself or with your parents or a loved one — here are three reasons why college is absolutely worth it: the money, the investment, and the education. And, incidentally, those are the same three reasons you may want to avoid college.

College is (not) worth it for the money

Let’s start with the stressor supreme of college life: the price tag. Rising tuition costs have been outpacing the median income for decades. The reasons for this are numerous but include state funding cuts, a massive increase in demand, the bankrolling of new student services, and bloating administrative compensation. The outcome is that today’s students are making up the difference. And they are doing so by taking on debt.

Outstanding student loan debt in the U.S. stands at $1.7 trillion spread across 43.4 million borrowers . Those large numbers have generated frightening headlines in the vein of 30-somethings shouldering six-figure debt, predatory loans targeting vulnerable families, and the endless cycle of fraud and abuse charitably called the for-profit college sector .

Now, it’s worth taking a breather here and remembering that headline writers feast on the most sensational (and therefore clickable ) samples of reality. If you place those large numbers into their much larger context, the crisis is a little more subdued.

Yes, some graduates will wrestle with exorbitant loans throughout their lives, but the mean student debt across all borrowers comes to about $39,000. Many graduates cover a bill of less than $20,000 , and states such as California, Washington, and Utah maintain low student debt averages . That makes the cost of a bachelor’s degree comparable to — if not less than — a new car on average. And while that $1.7 trillion figure is eye-catching, it’s but a pothole compared to America’s debt chasm: mortgages, which account for a stupefying $15 trillion of outstanding debt.

Even so, you’re probably worried about college debt for the same reason you don’t have a shiny new WRX GT parked outside. The monthly payments are a financial strain. The average monthly student loan payment sits at several hundred dollars , and meeting that means sacrificing more than the occasional night out. For college graduates who haven’t established themselves in the labor market, it can be the difference between making ends meet or not.

Yes, there’s a scrum of payment options, each sporting an obliging name such as deferred payments and income-driven repayment plans . But it can take years to cement oneself in a quality position in the best of job markets. All the while, if you aren’t paying down those loans fast enough, they may be ballooning with interest.

As the Department of Education concluded in a recent fact sheet : “Today, college remains the greatest driver of socioeconomic mobility in America, but if we don’t do more to keep it within reach for middle-class families and those striving to get into the middle class, it could have the opposite effect.”

College is (not) worth it for the investment

For the money, you receive an education and a degree. More than that, you get an investment in your future, and like any investment, there’s an associated risk. According to the Federal Reserve Bank of New York , roughly 34% of college graduates are underemployed, meaning they work jobs that typically don’t require a college degree.

Again, it’s worth reading that figure in context. It’s not saying these jobs lack dignity or a livable wage. They may be professional gigs that pay well. But those graduates may have secured such employment without spending the time or money to acquire their degrees. 

However, as far as investments go, college is hardly buying penny stocks through Jordan Belfort. College is one of the safest bets you can make, one that delivers across a lifetime. According to the Bureau of Labor Statistics , bachelor’s degree holders are twice as likely to be employed than those with only a high school diploma. They also earn more money, taking in median weekly earnings of $1,305 in 2020 (compared to $781 for diploma earners). And that adds up over a lifetime . Men with a bachelor’s degree will earn roughly $900,000 more than their peers holding only a diploma. For women, the difference is $630,000.

Of course, your choice of major influences those numbers a lot. Degrees in engineering, science, computer science, and economics tend to earn significantly more than those in the arts, education, literature, and psychology. But even those degrees beat a high school diploma on average.

Outstanding student loan debt in the U.S. stands at $1.7 trillion spread across 43.4 million borrowers. 

Let’s take a moment to squash the billionaire dropout myth. Yes, outliers like Bill Gates and Mark Zuckerberg dropped out of college to earn billions. But beyond being talented and capable self-learners, both men came from well-to-do families, went to Harvard, and used their Ivy League networks to jump-start their businesses.

For the vast majority of college dropouts, the back-of-the-book blurb is far less rosy. “Someone in this group is 70% more likely to be unemployed and over four times more likely to default on their loans. On average, this group also earns 32% less than college graduates. Far from tipping the scales of outrageous wealth, college dropouts are barely getting by,” Mike Colagrossi reports .

College is (not) worth it for the education

So far, we have taken the narrow view of college’s value proposition: money. But the third reason college is (or isn’t) worth it is not so material: education and the value it brings to your life. 

Many colleges design their undergraduate curriculum toward a liberal education, one that samples from a range of disciplines such as the humanities, sciences, and social sciences. As described by Mark Montgomery , founder and CEO of Great College Advice, the purpose of a liberal education is to introduce “students to a wide variety of academic subjects and materials to help them make connections among diverse phenomena, and also develop some expertise in a single field. It is meant to ‘liberate’ the mind and move beyond mere professional training.”

But many students go to college searching for something far more specific. According to Pew Research data , half of Americans believe the main purpose of college is to teach the skills and knowledge people need to find a job. If this sounds like you, then you may find the college curriculum as frustrating as it is numbing. After all, if you’re going to be an ultrasound technician, why do you need to sit through classes in ethics, evolutionary theory, or Romantic poetry? Such subjects would not only feel like a waste of time and money; they become barriers to your engagement and learning. 

Ryan Stowers , executive director of the Charles Koch Foundation, summed up this view when he wrote: “The current approach to postsecondary education is not working for everyone. We shouldn’t be surprised. The two- and four-year degree models that define our postsecondary education system were built for a different time and place, and our failure to innovate in anticipation of learners’ evolving needs and interests has set up millions of people for disappointing life outcomes.”

On the other hand, 35% of those surveyed by Pew believed the purpose of college was to help students grow and develop, personally as well as intellectually. From this perspective, a class in ethics may not show up on your resume, but it can endow you with a greater sense of social responsibility. A class in evolutionary theory can give you a richer appreciation of life’s history on Earth and the discoveries of science. And analyzing the symbolism of a Romantic poem such as “ Ode to a Grecian Urn ” can help you better appreciate art and its place in culture. 

Yes, your time in college will offer classes that teach more marketable skills, but the point isn’t to be a worker placement program. It’s to broaden your perspectives, enrich your knowledge, instill the value of thought, and develop the habits of — and passion for — lifelong learning.

Johann N. Neem , author of What’s the Point of College? , sums up this view: “A college education is valuable in the labor market precisely because it cannot be reduced to one set of skills. What makes college graduates desirable is their ability to think broadly about the world and their capacity to use language and numbers well. These outcomes are achieved by immersing people for a portion of their lives on campuses devoted to thinking as an end in itself.”

So, is it worth it then?

It would be nice to have a pat answer, but saying everyone should go to college is as genuine a response as Peter Theil calling higher education a bubble and bribing students to drop out. Neither is true nor beneficial. The best answer is that, on average , a college degree is worth the cost. But in those two words — on average — lies a continuum of lives, plans, and desires. To determine where you fall in that continuum, you’ll need to deeply consider your circumstances.

The above three considerations can kickstart that discussion: Can you handle the debt? Is it an investment worth making? Is the college experience something you desire intrinsically? That’s only the beginning, though. You also have to consider things like:

• What are your life goals? 
• Will you have to hold down a job while attending? 
• What family obligations must you fulfill? 
• Does the job you want require a degree? If so, what kind? If not, how else might you fulfill any education requirements? 
• Are you looking to college because it’s expected of you, or do you not know what else to do? 

You should also deliberate on the many post-secondary education paths — of which college is only one.

Vocational and trade schools offer more direct job skills training and are often paired with on-the-job training and networking opportunities with employers in the area. Certificate programs are easier than ever to access online, and many fields still employ apprenticeships . Community colleges provide the opportunity to earn a degree, sample the liberal education experience, and discover your passions at a discounted rate compared to four-year universities — any one of which can be accessed at different times in your life, not just the four-year window between ages 18 and 22.

All these variables need to be entertained when pondering college. Maybe that answer will point you toward going; maybe it won’t. Regardless of your decision, thoroughly weighing the pros and cons of your educational future will help you develop your talents and help bring a sense of meaning and fulfillment to your life.

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Is College Worth It?

As economic outcomes for young adults with and without degrees have improved, americans hold mixed views on the value of college, table of contents.

• Labor force trends and economic outcomes for young adults
• Economic outcomes for young men
• Economic outcomes for young women
• Wealth trends for households headed by a young adult
• The importance of a four-year college degree
• Getting a high-paying job without a college degree
• Do Americans think their education prepared them for the workplace?
• Is college worth the cost?
• Acknowledgments
• The American Trends Panel survey methodology
• Current Population Survey methodology
• Survey of Consumer Finances methodology

Pew Research Center conducted this study to better understand public views on the importance of a four-year college degree. The study also explores key trends in the economic outcomes of young adults among those who have and have not completed a four-year college degree.

The analysis in this report is based on three data sources. The labor force, earnings, hours, household income and poverty characteristics come from the U.S. Census Bureau’s Annual Social and Economic Supplement of the Current Population Survey. The findings on net worth are based on the Federal Reserve’s Survey of Consumer Finances.

The data on public views on the value of a college degree was collected as part of a Center survey of 5,203 U.S. adults conducted Nov. 27 to Dec. 3, 2023. Everyone who took part in the survey is a member of Pew Research Center’s American Trends Panel (ATP), an online survey panel that is recruited through national, random sampling of residential addresses. Address-based sampling ensures that nearly all U.S. adults have a chance of selection. The survey is weighted to be representative of the U.S. adult population by gender, race, ethnicity, partisan affiliation, education and other categories. Read more about the ATP’s methodology .

Here are the questions used for this report , along with responses, and the survey’s methodology .

Young adults refers to Americans ages 25 to 34.

Noncollege adults include those who have some college education as well as those who graduated from high school but did not attend college. Adults who have not completed high school are not included in the analysis of noncollege adults. About 6% of young adults have not completed high school. Trends in some labor market outcomes for those who have not finished high school are impacted by changes in the foreign-born share of the U.S. population. The Census data used in this analysis did not collect information on nativity before 1994.

Some college includes those with an associate degree and those who attended college but did not obtain a degree.

The some college or less population refers to adults who have some college education, those with a high school diploma only and those who did not graduate high school.

A full-time, full-year worker works at least 50 weeks per year and usually 35 hours a week or more.

The labor force includes all who are employed and those who are unemployed but looking for work.

The labor force participation rate is the share of a population that is in the labor force.

Young adults living independently refers to those who are not living in the home of either of their parents.

Household income is the sum of incomes received by all members of the household ages 15 and older. Income is the sum of earnings from work, capital income such as interest and dividends, rental income, retirement income, and transfer income (such as government assistance) before payments for such things as personal income taxes, Social Security and Medicare taxes, union dues, etc. Non-cash transfers such as food stamps, health benefits, subsidized housing and energy assistance are not included. As household income is pretax, it does not include stimulus payments or tax credits for earned income and children/dependent care.

Net worth, or wealth, is the difference between the value of what a household owns (assets) and what it owes (debts).

All references to party affiliation include those who lean toward that party. Republicans include those who identify as Republicans and those who say they lean toward the Republican Party. Democrats include those who identify as Democrats and those who say they lean toward the Democratic Party.

At a time when many Americans are questioning the value of a four-year college degree, economic outcomes for young adults without a degree are improving.

After decades of falling wages, young U.S. workers (ages 25 to 34) without a bachelor’s degree have seen their earnings increase over the past 10 years. Their overall wealth has gone up too, and fewer are living in poverty today.

Things have also improved for young college graduates over this period. As a result, the gap in earnings between young adults with and without a college degree has not narrowed.

The public has mixed views on the importance of having a college degree, and many have doubts about whether the cost is worth it, according to a new Pew Research Center survey.

• Only one-in-four U.S. adults say it’s extremely or very important to have a four-year college degree in order to get a well-paying job in today’s economy. About a third (35%) say a college degree is somewhat important, while 40% say it’s not too or not at all important.
• Roughly half (49%) say it’s less important to have a four-year college degree today in order to get a well-paying job than it was 20 years ago; 32% say it’s more important, and 17% say it’s about as important as it was 20 years ago.
• Only 22% say the cost of getting a four-year college degree today is worth it even if someone has to take out loans. Some 47% say the cost is worth it only if someone doesn’t have to take out loans. And 29% say the cost is not worth it.

These findings come amid rising tuition costs and mounting student debt . Views on the cost of college differ by Americans’ level of education. But even among four-year college graduates, only about a third (32%) say college is worth the cost even if someone has to take out loans – though they are more likely than those without a degree to say this.

Four-year college graduates (58%) are much more likely than those without a college degree (26%) to say their education was extremely or very useful in giving them the skills and knowledge they needed to get a well-paying job. (This finding excludes the 9% of respondents who said this question did not apply to them.)

Views on the importance of college differ widely by partisanship. Republicans and Republican-leaning independents are more likely than Democrats and Democratic leaners to say:

• It’s not too or not at all important to have a four-year college degree in order to get a well-paying job (50% of Republicans vs. 30% of Democrats)
• A college degree is less important now than it was 20 years ago (57% vs. 43%)
• It’s extremely or very likely someone without a four-year college degree can get a well-paying job (42% vs. 26%)

At the same time that the public is expressing doubts about the value of college, a new Center analysis of government data finds young adults without a college degree are doing better on some key measures than they have in recent years.

A narrow majority of workers ages 25 to 34 do not have a four-year college degree (54% in 2023). Earnings for these young workers mostly trended downward from the mid-1970s until roughly a decade ago.

Outcomes have been especially poor for young men without a college degree. Other research has shown that this group saw falling labor force participation and sagging earnings starting in the early 1970s , but the last decade has marked a turning point.

This analysis looks at young men and young women separately because of their different experiences in the labor force.

Trends for young men

• Labor force participation: The share of young men without a college degree who were working or looking for work dropped steadily from 1970 until about 2014. Our new analysis suggests things have stabilized somewhat for this group over the past decade. Meanwhile, labor force participation among young men with a four-year degree has remained mostly flat.
• Full-time, full-year employment: The share of employed young men without a college degree who are working full time and year-round has varied somewhat over the years – trending downward during recessions. It’s risen significantly since the Great Recession of 2007-09, with the exception of a sharp dip in 2021 due to the COVID-19 pandemic. For employed young men with a college degree, the share working full time, full year has remained more stable over the years.

• Median annual earnings: Since 2014, earnings have risen for young men with some college education and for those whose highest attainment is a high school diploma. Even so, earnings for these groups remain below where they were in the early 1970s. Earnings for young men with a bachelor’s degree have also trended up, for the most part, over the past 10 years.
• Poverty: Among young men without a college degree who are living independently from their parents, the share in poverty has fallen significantly over the last decade. For example, 12% of young men with a high school diploma were living in poverty in 2023, down from a peak of 17% in 2011. The share of young men with a four-year college degree who are in poverty has also fallen and remains below that of noncollege young men.

Trends for young women

• Labor force participation: The shares of young women with and without a college degree in the labor force grew steadily from 1970 to about 1990. Among those without a college degree, the share fell after 2000, and the drop-off was especially sharp for young women with a high school diploma. Since 2014, labor force participation for both groups of young women has increased.
• Full-time, full-year employment: The shares of employed young women working full time and year-round, regardless of their educational attainment, have steadily increased over the decades. There was a decline during and after the Great Recession and again (briefly) in 2021 due to the pandemic. Today, the shares of women working full time, full year are the highest they’ve ever been across education levels.

• Median annual earnings: Median earnings for young women without a college degree were relatively flat from 1970 until about a decade ago. These women did not experience the steady decline in earnings that noncollege young men did over this period. By contrast, earnings have grown over the decades for young women with a college degree. In the past 10 years, earnings for women both with and without a college degree have risen.
• Poverty: As is the case for young men without a college degree, the share of noncollege young women living in poverty has fallen substantially over the past decade. In 2014, 31% of women with a high school diploma who lived independently from their parents were in poverty. By 2023, that share had fallen to 21%. Young women with a college degree remain much less likely to be in poverty than their counterparts with less education.

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The Value of Higher Education: Is College Worth it?

A college education is an essential stepping stone to a successful career and a fulfilling life. While many people debate the value of a college education in today’s economy, a college education is a crucial investment that can transform one’s life in countless ways. The benefits of a college education go beyond a job or career; it impacts personal development, civic engagement and overall well-being.

In this guide, we’ll dive deep into the career advancement and salary opportunities available for individuals pursuing a college education. In addition, we’ll take a close look at all of the ways a college student can grow personally, from a health, social and economic standpoint.

Ready to start your journey to college? Crimson Education is the world’s leading College Admissions Consulting company helping student gain admissions into top universities in the US & UK. Speak to our expert advisors to learn more about our Admissions Support Program !

Advantages of a College Degree

One of the main reasons people pursue higher education is to increase their earning potential and career opportunities. Studies have consistently shown that college graduates have higher earnings and more career advancement opportunities than those without a college degree. A college education provides specialized skills and knowledge that are highly valued in the workforce.

Additionally, college graduates have access to a larger professional network, which can lead to more job opportunities and career advancement . In this regard, a college degree can be a valuable investment in one's future, providing a path to higher earning potential and greater job satisfaction. Here’s a closer look at the economic and career opportunities available for college graduates:

Increased Job Opportunities

A college degree opens up more job opportunities than a high school diploma alone. Many employers require a college degree for certain positions, and a degree can make candidates more competitive in the job market.

Higher Earning Potential

One of the most significant benefits of obtaining a college degree is the higher earning potential it provides. College graduates tend to earn more than those with only a high school diploma, and this trend holds across various professions and industries.

According to the Bureau of Labor Statistics , in 2021, the median weekly earnings for workers with a bachelor's degree was $1,334, compared to $899 for those with a high school diploma only. Furthermore, individuals with an advanced degree, such as a master's or doctoral degree, tend to earn even more.

The higher earning potential of college graduates can be attributed to several factors. First, college graduates have specialized knowledge and skills that are highly valued in the workforce. They are trained to think critically, analyze complex problems, and communicate effectively, all of which are skills that are in high demand across various industries.

Second, many employers require a college degree for certain positions, especially those that involve complex tasks or require specialized knowledge. Therefore, having a college degree makes candidates more competitive in the job market and increases their chances of being hired.

Specialized Skills

Obtaining a college degree provides graduates with specialized skills and knowledge that are highly valued in the workforce. These skills and knowledge are developed through coursework, hands-on experience, and exposure to various learning environments.

Some of the specialized skills that college graduates possess include:

• Critical thinking and problem-solving : College graduates are trained to analyze complex problems, identify potential solutions, and make informed decisions.
• Communication skills : College graduates have honed their written and verbal communication skills, which are essential in many professional settings.
• Technical skills : Depending on the degree program, college graduates may have specialized technical skills that are in high demand, such as computer programming, data analysis, or engineering.
• Leadership skills : College graduates often have experience working in teams and leading projects, which can be valuable in management and leadership positions.
• Adaptability : College graduates are trained to adapt to changing environments and situations, which is essential in today's rapidly evolving job market.
• Cultural competency : College graduates are exposed to a diverse range of cultures and ideas, which can enhance their ability to work with people from different backgrounds.

Having specialized skills can make college graduates more attractive to employers and increase their chances of being hired for certain positions. These skills can also lead to higher salaries, as many employers are willing to pay a premium for specialized expertise.

Networking is an essential aspect of career development, and obtaining a college degree provides graduates with a valuable network of contacts. College graduates have access to a vast network of alumni, professors, classmates, and professionals in their field, which can provide numerous benefits throughout their careers.

Networking can lead to job opportunities, as many employers prefer to hire candidates through referrals. Building relationships with professionals in your field can help you learn about job openings before they are publicly advertised, giving you an advantage in the job market.

Career Advancement Opportunities

Obtaining a college degree can open up numerous career advancement opportunities for graduates. A college degree provides specialized knowledge and skills that can make graduates more competitive in the job market and eligible for higher-paying positions with greater responsibility and leadership opportunities.

A college degree can provide graduates with the opportunity to switch careers, as they have the skills and knowledge needed to transition to a new field. In addition, graduates with specialized skills and knowledge can also pursue industry certifications, which can increase their credibility and open up new career opportunities.

Increased Job Satisfaction

College graduates often work in fields they are passionate about, which can lead to greater job satisfaction. By pursuing their interests and passions, they are more likely to find fulfillment in their work. In addition, college graduates are often eligible for jobs with greater job security, such as those in government, education, or healthcare. Having a stable job can lead to greater job satisfaction, as employees feel more secure in their position.

Social Mobility and Economic Stability

College education can expose individuals to diverse perspectives, cultures, and ideas, which can broaden their understanding and empathy for others. This can help individuals develop stronger relationships, build social capital, and navigate social and economic barriers. However, that’s not all that a college education can help support social mobility. College can provide individuals with networking opportunities that can lead to job opportunities, mentorship, and access to resources that can help them move up the social and economic ladder.

In addition, a college education can provide individuals with access to a broader range of career opportunities, including those that require specialized skills and knowledge. This can lead to career advancement, which can provide individuals with greater social mobility.

As a result of a broader range of career opportunities, college graduates tend to have greater resilience to economic downturns, as they may have more skills, education, and experience to adapt to changing economic conditions. Also, college courses often include personal finance education, which can provide students with the knowledge and skills to manage their finances effectively, including budgeting, saving, investing, and managing debt. This can lead to greater financial stability and security over the long term, leading college graduates to have more economic stability.

Personal Development and Fulfillment

A college education can contribute to personal development and fulfillment through intellectual growth, self-discovery, personal growth, social connections, and a love of lifelong learning. This is because a college education can facilitate personal growth through experiences that challenge individuals to step outside of their comfort zones, take risks, and learn from their mistakes.

As a student works towards obtaining their degree, their time in college can be a time of self-discovery as individuals explore their interests, values, and beliefs. This can help individuals develop a sense of identity and purpose and make informed decisions about their personal and professional lives.

In addition, many colleges provide opportunities for social connections and community building, which can lead to a sense of belonging and fulfillment. The opportunities colleges provide for personal development can include participation in student organizations , cultural events, and community service.

Health and Well-Being

While not many people think about the ways a college can support an individual’s health and well-being, pursuing a college education can play a key role in a student’s life-long well-being.

Many colleges and universities provide access to healthcare services, including medical care, mental health counseling, and wellness programs. In addition, a college education can promote physical activity through organized sports programs, recreation facilities, and fitness classes.

In addition, a college education can provide a supportive environment for students through peer support networks, mentorship programs, and counseling services. A supportive environment can help students cope with challenges and promote overall well-being. Many campuses also promote stress management through stress reduction programs, mindfulness training, and counseling services.

Overcoming Challenges and Creating Opportunities

A college education is helpful for individuals looking to overcome challenges and create opportunities to flourish.

Pursuing a college education allows opportunities for innovating and creative solutions, which increases a student’s likelihood of success. A college education can expose individuals to diverse perspectives, cultures, and ideas, which can help them approach challenges and opportunities from multiple angles. College allows individuals to develop skills and exposure to diverse perspectives. These factors allow students to become more adaptable, resilient, and successful in the event of challenges.

Do you need a college degree to be successful?

If the answer to this question were a simple “yes,” then the decision to go to college would be easy. Many factors help make someone successful. But, for most successful people, college is one of those factors.

Is college necessary for a successful career?

Yes and no. College opens up opportunities both intellectually and socially that you wouldn’t have otherwise. You’re surrounded by a network of students and professionals from all walks of life. There’s a good chance one might be your connection to your future career.

As a college graduate, you’ll likely have better career prospects, higher pay, and a higher-skilled job. These factors often contribute to stability, success, and overall happiness.

Final Thoughts: Is college worth it?

Based on current evidence, trends, and statistics, yes, college is worth it . If you have a college degree, you should have an easier time finding, keeping, and enjoying your career. But, the ultimate decision is still up to you. If you’re still unsure if college is for you, consider contacting one of Crimson’s advisors. They can answer your questions, help you determine which college might be right for you, and guide you towards a path that will lead you to the career of your dreams.

Ready to start your education journey? Book a free consultation with our advisors to learn more about how Crimson can help you!

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Home — Essay Samples — Education — College — Argumentative Essay: Is College Education Worth The Cost

Argumentative Essay: is College Education Worth The Cost

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Published: Mar 13, 2024

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Sample Essay: Is College Worth It?, with Outline

Published by gudwriter on November 23, 2017 November 23, 2017

Is College Worth It Example Essay

Is college worth it? Here is a sample essay that discusses whether college education is worth it in the long run or it’s just a waste of money and time.

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Essay Outline on Whether College is Worth it

Introduction.

Thesis: While there are arguments that college education is not worth it in the current society, this paper contends that college education is indeed worth it irrespective of the prevalent economic conditions.

Paragraph 1:

College education is worth acquiring because those with a college degree earn substantially higher as compared to their counterparts who have secondary school education.

• The earning gap between the two groups only continues to become wider even as the economy transforms.
• “High school graduates earn about 62% of what those with four-year degrees earn, according to a Pew Research Center study.”

Paragraph 2:

College education also adds on to the market value of college graduates making them more valuable than non-college graduates.

• College degree is highly valued by the job market of today and prospective employers view it as the minimum educational requirement for employment.
• In comparison to high school graduates, college graduates would easily secure job opportunities.

  Paragraph 3:

It is also worth pursuing college education because with it, one gets into a better position to acquire and enjoy the benefits of health insurance and develop their pension plans.

• “In 2011, the percentage of full-time workers offered pension plans by their employers who chose to participate ranged from 77% for those without a high school diploma to 94% for those with an advanced degree.”
• Higher levels of educational attainment put one in a better place to have a health insurance cover that is provided by their employer.

Paragraph 4:

College education further helps students in multiple other ways than just monetary returns.

• According to a survey, 74% of students said they had achieved invaluable intellectual growth by attending college while 69% believed college had helped them attain higher personal maturity levels.
• Thus, apart from employment, college makes students become better prepared to face life and the challenges that come with it.

Paragraph 5:

One argument against college education is that it plunges students into huge debt burdens.

• The argument holds that the $400 average monthly wage that fresh college graduates get is not enough for servicing their student loans.
• This argument ignores the fact that as they continue to work, college graduates develop professionally and continue earning more than their starting salary.

Paragraph 6:

Opponents of college education also front an argument that the market value of students does not benefit from college education.

• Apparently, this explains why people with college education may find themselves in odd jobs such as being hotel attendants.
• This argument is off the mark because college education indeed increases the market value of students and that is why they earn more than high school graduates.  

College education is worth it given the many benefits it sires. One should pursue college education at all costs even if it means running into debts. Deliberately failing to acquire college education is akin to deliberately settling for less in life. For an in-depth analysis of Candide, please read our Candide analysis essay.

Is College Worth it Example Essay

College education is one area that many people in the United States of America have invested and continue to invest in. It is widely believed that with college education, one has a better chance at life in terms of professional and personal development. College education has long been seen as a good avenue through which one may access and effectively exploit economic opportunities both domestically and internationally. However, the cost of acquiring college education has risen in the recent past and continues to rise even at present. A debate has thus ensued as to whether college education is really worth its cost in the prevailing economic situations. While there are arguments that college education is not worth it in the current society, this paper contends that college education is indeed worth it irrespective of the prevalent economic conditions. In college that’s where you may find worthy and important friendship , it’s where you mold relationship since you have a better understanding of yourself.

College education is worth acquiring because those with a college degree earn substantially higher as compared to their counterparts who have secondary school education. The earning gap between the two groups only continues to become wider even as the economy transforms. As pointed out by Weston (2015), “High school graduates earn about 62% of what those with four-year degrees earn, according to a Pew Research Center study.” In the year 1979, those with high school education used to earn 77% of what college graduates earned; a proof that the earning gap is indeed increasing (Weston, 2015). It would thus not be advisable to forego college education and settle for high school education because in effect, that means settling for lower earnings. Under normal circumstances, an investment that attracts higher returns on investment is worth considering or pursuing and so is college education.

College education also adds on to the market value of college graduates making them more valuable than non-college graduates. As clearly stated by Selingo (2015), college degree is highly valued by the job market of today and prospective employers view it as the minimum educational requirement for employment. This then implies that in comparison to high school graduates, college graduates would easily secure job opportunities. With college education, one thus opens more economic opportunities for themselves. This is why Weston (2015) advises that in the current economy, everybody should “consider some post-secondary training if they do not want to fall down the economic ladder.” Irrespective of the program one undertakes in college, they would enhance their market value by amassing as much professional experience as possible and thereby command better earnings.

It is also worth pursuing college education because with it, one gets into a better position to acquire and enjoy the benefits of health insurance and develop their pension plans. “In 2011, the percentage of full-time workers offered pension plans by their employers who chose to participate ranged from 77% for those without a high school diploma to 94% for those with an advanced degree” (Baum, Ma & Payea, 2013). It is further noted by Baum, Ma & Payea (2013) that higher levels of educational attainment put one in a better place to have a health insurance cover that is provided by their employer. With a health insurance, one can be sure of medical attention whenever they need it while with pension plans, one is sure to live a dignified life after they retire. Therefore, one would suffer less financial burden if they have these two provisions, both before and after retirement. As is evident here, the benefits would far outweigh the cost at which college education is acquired.

College education further helps students in multiple other ways than just monetary returns. According to a survey, 74% of students said they had achieved invaluable intellectual growth by attending college while 69% believed college had helped them attain higher personal maturity levels (“Is College Worth It?,” 2011). Thus, apart from employment, college makes students become better prepared to face life and the challenges that come with it. A more intellectually strengthened person is likely to approach life with an open mind which would enable them develop well-thought solutions to various life problems. Similarly, a high level of personal maturity helps one in developing meaningful relationships both at personal and professional levels. Thus, college education generally prepares a person for better life. It would be less meaningful to earn a lot of money and spend it unwisely.

One argument against college education is that it plunges students into huge debt burdens. Selingo (2015) argues that the $400 average monthly wage that fresh college graduates get is not enough for servicing their student loans. The scholar contends that with such little earnings, college graduates may end up repaying their loans for long. Supporters of this opinion hold that being in debt overshadows the value the students might have got from the education given that it is costly to acquire. However, this argument ignores the fact that as they continue to work, college graduates develop professionally and continue earning more than their starting salaries.

Opponents of college education also front an argument that the market value of students does not benefit from college education. Apparently, this explains why people with college education may find themselves in odd jobs such as being hotel attendants. According to Selingo (2015) ,““Looking at the actual return on the costs of attending college, careful analyses suggest that the payoff from many college programs — as much as one in four — is actually negative”. However, this argument is off the mark because as revealed herein, college education increases the market value of students and that is why they earn more than high school graduates.

College education is worth it given the many benefits it sires. One should pursue college education at all costs even if it means running into debts. It would be satisfying to service the loan knowing very well that afterwards, one would continue reaping the benefits of the education. Increased market value, higher earnings, health insurance cover, and retirement plans all make college education a necessity. Deliberately failing to acquire college education is thus akin to deliberately settling for less in life.

Baum, S., Ma, J., & Payea, K. (2013). “ Education pays 2013: the benefits of higher education for individuals and society” . The College Board. Retrieved from https://trends.collegeboard.org/sites/default/files/education-pays-2013-full-report.pdf

Is College Worth It?. In Pew Research Center . Retrieved July 9, 2020 from https://www.pewsocialtrends.org/2011/05/15/is-college-worth-it/

Selingo, J. (2015). “ Is college worth the cost? Many recent graduates don’t think so”. Washington Post . Retrieved 21 November 2017, from https://www.washingtonpost.com/news/grade-point/wp/2015/09/30/is-college-worth-the-cost-many-recent-graduates-dont-think-so/?utm_term=.d1c7eef76720

Weston, L. (2015). “ Why college is still worth it even though it costs too much” . Time . Retrieved 21 November 2017, from http://time.com/money/4061150/college-degree-worth-it/

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Is College Worth It?

Learn more about the benefits and tradeoffs associated with attending college, so you can determine whether it's the best choice for you.

Pursuing higher education can be a worthwhile endeavor for many reasons. At the most foundational level, learning can broaden your perspective and help you develop new or additional knowledge. 

Beyond that, graduating with a bachelor’s degree is a valuable credential. Although an increasing number of employers and industries do not expect entry-level employees to have a degree, it can become important as you advance in your career. College can also be a time to explore who you are, grow in notable ways, build your network, and participate in various organizations and activities.  

Whether college is worth it largely depends on your goals, resources, and whether the benefits outweigh the total cost of college . In this article, we’ll review key facts about attending college, the benefits of higher education, factors that can impact whether college is worth it, and alternative paths to hone your education.   

Attending college: Time and cost

Earning your bachelor's degree means attending a four-year institution, though many students now take five to six years to finish. The pace at which you finish college most often depends on whether you can attend part-time or full-time and the number of credits your major requires .   

The cost of college is based on the type of school you attend. The figures below list the annual average cost of tuition and fees but do not consider additional costs like room and board, books, and other materials [ 1 ]: 

Public in-state tuition : $10,740 

Public out-of-state tuition : $27,560

Private tuition : $38,070 

The benefits of attending college 

The proportion of jobs requiring a bachelor’s degree has declined in recent years. While 51 percent of jobs listed online required a bachelor’s in 2017, only 44 percent required it in 2021 [ 2 ]. A degree still tends to be the primary outcome of attending college. However, there are many other benefits to consider.  

Social mobility 

College can lead to greater social mobility, or the ability to move between social strata, such as between the lower and middle classes. Generally, social mobility will be most effective when your cost of attending college remains low and you find a good-paying job after graduation. (You can find lists of colleges ranked by this metric published annually.) 

Keep in mind that even if you earn an average entry-level salary, you may be able to make more over your working life with a degree. Over their lifetime, men with bachelor’s degrees earn more than $900,000 on average, and women with bachelor’s degrees earn more than $630,000 on average compared to high school graduates, according to the Social Security Administration [3 ].

Earnings and stability 

A bachelor’s degree has been shown to lead to higher earnings and lower unemployment rates. As of 2022, the US Bureau of Labor Statistics (BLS) calculates the median weekly earnings for bachelor’s degree holders at $1,556 (compared to $866 for high school graduates) [ 4 ]. And the unemployment rate for bachelor’s degree holders is 3.5 percent compared to 6.2 percent for high school graduates [ 5 ].

Time to explore interests

Some students begin college knowing what they want to study, while for others, it’s a chance to explore their interests, values, and passions by taking a range of classes. A bachelor’s degree program typically requires you to take most of your core liberal arts courses and some electives before declaring your major . That time is an opportunity to take classes in subjects both new and familiar to better understand what you enjoy learning and doing.  

Skills development 

Throughout your time at college, you will develop workplace skills (sometimes called “soft skills”) and interpersonal skills that companies seek in job candidates. Many majors will also encourage you to develop important technical skills you can showcase as part of your overall skill set.   

Skills you can learn or refine in college:  

Time management

Communication

Critical thinking

Problem-solving

Organization

Digital literacy

Project management

Socialize and network 

Taking advantage of student groups, clubs, and organizations at college can be beneficial. Not only can you build valuable social skills through participation, but you can also refine other useful skills, such as teamwork and leadership. Organizations can also be an excellent opportunity to build your professional network.  

Many online colleges also offer peer interaction and peer groups to foster your sense of connection to your school and classmates and develop valuable skills.  

Most schools have educational and professionalization resources designed to help you during college and when you're preparing to enter the workforce. These include student advising, libraries, tutoring, career centers, and internship placement, among others, and are worth using. 

Learn more: Is a Bachelor's Degree Worth It?

Factors that can impact the worth of college

With all of the many benefits of a degree, certain components can impact the worth of your college education. As you think about your goals and whether you can achieve them by attending college (or not), it’s helpful to consider the factors below: 

Student debt

College can be expensive, leading many students to take out loans to cover the cost of their education. As of 2021, 65 percent of bachelor’s degree students from public institutions in the United States took out student loans to pay for school, and the average graduate owed $28,800 [ 6 ]. 

Student loans are just one option among many. The Free Application for Federal Student Aid (FAFSA) will determine what kind of financial assistance you qualify for (grants, work-study, loans). Still, it may be helpful to apply for additional scholarships to offset the cost of attendance, or consider working a part-time college job to lower the overall amount you owe. 

The way you earn your degree can also impact cost. Learning online tends to cost less than learning in person. If you’re currently working full-time, you may want to investigate whether your employer offers programs to cover a portion of your education. 

Learn more: Jobs to Pay for College  

Time to completion

The time it takes to earn your degree often means time away from the full-time workforce. Now that it takes many undergraduates closer to five or six years to graduate, that can be a sizable consideration. 

You can reduce the time to completion by taking a full course load each semester and taking advantage of “extra” semesters, like summer, to move through your coursework more quickly. Thirty-three percent of bachelor’s degree students change their major, which can also add time to college [ 7 ]. 

Many majors encourage you to take advantage of paid internships to gain professional experience alongside your education. It might be worth working part-time to build your experience while adding a revenue stream to help pay for college.   

The value of a bachelor’s degree

Nearly 40 percent of adults hold a bachelor’s degree, which might seem to dilute its power [ 8 ]. As more and more people earn that degree, you may need more education to stand out as a job candidate. 

However, a bachelor’s degree is still a valued credential among employers. Even though some companies may not require applicants to hold a college degree for entry-level roles, it may become increasingly important as you apply for advanced roles that involve management or leadership.  

Determining whether college is right for you 

College may be a valuable choice, but ultimately only you can determine whether you will achieve what you want—and need—by attending it. As you weigh the benefits against the potential costs, use the items below to help you think through your decision:  

Long-term goals 

Your long-term goals can help you understand whether attending college is the right choice for you. Think about your goals over three separate outcomes: career, earnings, and lifestyle. 

Career: What kind of career do you want to pursue? Do you need a college education to get started? Will you need a college education as you move along? 

Earning: What kind of salary would you like to earn eventually? What industries or roles will help you achieve that goal? Do they require a college education, either now or later? 

Lifestyle: What kind of life do you envision for yourself? Is flexibility important? How about work-life balance ? How might education enable you to achieve the type of role you want? 

Financial resources 

Knowing your financial resources can also be a valuable way to determine whether college is worth it. How much will you be responsible for on an annual basis? What steps can you take (submitting your FAFSA, applying for scholarships, working part-time) to manage those costs? 

If you decide to take out loans, knowing what you could earn for an entry-level role in your field—and how that might increase throughout your career—can help you figure out how long it might take to pay them off.

Time commitment 

College is a commitment, whether you attend part-time or full-time. Think about how much time you have to dedicate to your studies. Do you have at least four years, but possibly longer, to earn your degree? If you’re interested in earning your degree faster, are you able to commit more time? 

Bachelor’s degree alternatives 

Attending a four-year college may not be the best choice for you at the current moment. In that case, there are other educational avenues worth considering. 

Associate degrees: Earn your two-year associate degree at a community college, which could be free or cost less for qualifying local residents. The credential also shows positive earnings and lower unemployment compared to high school graduates. Many four-year schools accept transfer students who eventually wish to keep going and earn their bachelor’s degree [ 3 ]. 

Professional certificates: Designed to help you learn about a type of work (like digital marketing or data science) and develop job-ready skills, a certificate program can be an excellent—and faster—way to help you enter the workforce or advance your career. You can list the professional certificate you earn on your resume, showing potential employers what you’ve done to prepare yourself for your career. 

Trade schools: Geared toward students who want to learn about a specific type of trade or vocational work (like welding, HVAC tech, or medical coding), trade schools offer important training, and some even provide job placement. 

Bootcamps: If you’re interested in a tech career, a bootcamp can be an excellent way to learn specific job skills fast. You can learn UX design , coding, data science , and more.   

Learn more: 10 High-Paying Jobs You Can Get with an Associate Degree

A college education is an excellent way to build your subject knowledge, strengthen your skill set, and become a more competitive job candidate. Plus, it’s a significant personal accomplishment. 

Learn more about online bachelor’s degrees available from leading universities on Coursera. If you've already earned college credit and are looking to finish your degree, learn more about the University of North Texas’ Bachelor of Applied Arts and Sciences .  

Article sources

1. College Board. “ Trends in College Pricing and Student Aid in 2021 , https://research.collegeboard.org/media/pdf/trends-college-pricing-student-aid-2021.pdf.” Accessed July 20, 2022. 

2. New York Times. " A 4-Year Degree Isn’t Quite the Job Requirement It Used to Be , https://www.nytimes.com/2022/04/08/business/hiring-without-college-degree.html.” Accessed July 27, 2022.

3. Social Security Administration. “ Education and Lifetime Earnings , https://www.ssa.gov/policy/docs/research-summaries/education-earnings.html.” Accessed July 20, 2022. 

4. US Bureau of Labor Statistics. " Usual Weekly Earnings of Wage and Salary Workers Third Quarter of 2022 , https://www.bls.gov/news.release/pdf/wkyeng.pdf." Accessed November 14, 2022.

5. US Bureau of Labor Statistics. “ Education Pays , https://www.bls.gov/emp/chart-unemployment-earnings-education.htm.” Accessed November 14, 2022. 

6. Education Data Initiative. “ Average Student Loan Debt for a Bachelor’s Degree , https://educationdata.org/average-debt-for-a-bachelors-degree.” Accessed November 14, 2022. 

7. US Department of Education. “ Beginning College Students Who Change Their Major , https://nces.ed.gov/pubs2018/2018434.pdf.” Accessed July 21, 2022. 

8. Pew Research Center. “ 10 Facts About Today’s College Graduates , https://www.pewresearch.org/fact-tank/2022/04/12/10-facts-about-todays-college-graduates/.” Accessed July 21, 2022. 

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Coursera staff.

Editorial Team

Coursera’s editorial team is comprised of highly experienced professional editors, writers, and fact...

This content has been made available for informational purposes only. Learners are advised to conduct additional research to ensure that courses and other credentials pursued meet their personal, professional, and financial goals.

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Is College Still Worth It? Many Americans Say No

Jordan Reconnu, 23, of Dallas, Texas , has no regrets about not getting a college degree .

During the one semester of college she attended after graduating from high school in 2019, she felt like she wasn't learning anything new.

The idea of continuing did not appeal to her, and realizing how much her college education would end up costing, she quit and now works as a manager of a fast-food restaurant.

More From Newsweek Vault: Find the Most Affordable Online Colleges

"I wasn't thrilled with taking basic classes for two years and wasting even more money going to the same classes that we covered in high school," she tells Newsweek .

Higher education would not have improved her career prospects, she said, adding that she feels it is only worth pursuing for those hoping to work in fields that require it. "I feel like experience is what makes people marketable," she said.

Her mother, Jacque Abron, agrees with the sentiment.

More From Newsweek Vault: Best Online Computer Science Programs

Abron earned a college degree before becoming a teacher, but she is glad her daughter won't be saddled with student debt that for her has soared to more than $100,000 with added interest over the years.

College is "overrated," Abron tells Newsweek . "I don't see the use of a degree in this day and age. Employers are demanding higher education, and they serve no purpose."

Reconnu and Abron are among many Americans who have little faith in the value of a college degree , seeing universities as places where political agendas are pushed and where students are not taught the skills they need to succeed in life, but put on a path to a lifetime of oppressive debt.

According to a recent Gallup survey , a growing proportion of Americans are losing confidence in higher education. The survey, released in July, found that only about a third (36 percent) of Americans said they have a great deal or quite a lot of confidence in higher education, while 32 percent said they had little or no confidence. The numbers are significantly down from a decade ago, when 57 percent reported having a great deal or quite a lot of confidence in higher education and only 10 percent said they had little or none.

For those who said they had very little or no confidence, 41 percent talked about colleges being "too liberal" or trying to "indoctrinate" or "brainwash" students. Some 37 percent were critical of colleges not teaching relevant skills or graduates not being able to find employment, while 23 percent cited concerns about cost, such as the hefty price tag for tuition or the mounting debt that follows those who can't afford to pursue a degree without taking out student loans.

Another survey , conducted by EAB, formerly the Education Advisory Board, found that parents of students applying to college were most concerned about college costs (60 percent), receiving scholarships (40 percent) and the amount of student debt (39 percent). After that, their biggest concern was for the safety of their children on campuses, a concern that was higher for families of color.

Some parents would also prefer their children get some life experience—by getting a job, pursuing vocational training, starting a business or doing community service—instead of going straight into higher education. About 46 percent of parents said in a 2021 Gallup survey that they would prefer their children not enroll in a four-year college immediately after high school.

Abron said she would urge her other children, aged 4 and 12, to "check out trade schools or invest in other ways to build wealth." But ultimately, she said it would "come down to what they decide to do for their career and the requirements necessary."

Prioritizing Skills Over Education

But some good jobs don't require a degree, either. Aria Razfar, a professor at the University of Illinois at Chicago's College of Education, notes that some young people are seeking in-demand jobs in the booming technology industry where a college education isn't always a requirement.

"Over the last decade there has been a significant shift in access to knowledge as well as a shift in industry expectations," he tells Newsweek . "The rise of the tech industry, with less reliance on college certification, has led to many Generation Z students and their families wondering whether they really need a college education."

New America's 2024 Varying Degrees survey found that a majority (63 percent) of young Americans in Generation Z agree that there are plenty of well-paying stable jobs for people with just a high school diploma. However, many more agreed that it would be easier for those with some kind of college degree.

Some companies are dropping requirements for a bachelor's degree, a reflection of how more hiring managers are valuing skills and experience over education and wanting to attract more diverse talent.

One in three companies in the U.S. say they have eliminated bachelor's degree requirements from some positions in 2024, according to a survey of 750 U.S, businesses by Intelligent, a college preparation company. While the majority (59 percent) did so for entry-level positions, 54 percent removed degree requirements for mid-level roles and 18 percent for senior-level roles.

"Eliminating bachelor's degree requirements from the hiring and recruiting process is becoming increasingly popular across many industries," says Huy Nguyen, Intelligent's chief education and career development advisor. "The trend shift shows a broader recognition that practical skills, real-world work experiences and the ability to self-learn can be more important measures of potential success than four years of formal college education in many job functions."

By removing degree requirements, Nguyen says companies "gain access to larger and more diverse pools of talent, especially when looking to fill roles in industries facing labor shortages or seeking specialized skills that students may not have learned in college."

The Confidence Disconnect

Sean Reardon, a professor of poverty and inequality in education at Stanford University , tells Newsweek that it is striking "not just that confidence in higher education has declined, but that it has declined in an era when the economic value of a college degree remains very high."

In the 1950s and 1960s, those without a college degree could find good jobs in manufacturing or the auto industry, for instance, he said. However, "our labor market is very different now—most well-paid jobs require a four-year degree or more; without such a degree, one is likely to find only low-pay work," he said. "So you'd think folks would see much more value in higher education."

According to the U.S. Bureau of Labor Statistics, those with a bachelor's degree earn about 65 percent more per week than those with just a high school diploma. Furthermore, unemployment rates among high school graduates are almost twice as high as those who have a college degree.

And despite the decreased confidence in higher education, college enrollment numbers have been going up over the past year.

Colleges nationwide saw undergraduate enrollment plummet during the COVID-19 pandemic . But while undergraduate enrollment figures remain behind pre-pandemic levels, they increased this spring and last fall, according to the latest report from the National Student Clearinghouse. More than half of the growth was due to community colleges, but the report said enrollment at public and private nonprofit four-year institutions also grew this spring after years of decline.

"If people are increasingly unhappy with higher education, they aren't showing it in their actions," Reardon said. "That pattern further suggests that unhappiness with higher education is a symbolic position, and maybe not a deeply held one."

Return on Investment?

However, the most obvious reason for the erosion of faith in higher education over the past decade is economic, Razfar said.

Funding for public higher education has declined significantly since the 2008 recession , he said, shifting the financial burden to students and families.

"This has also put significantly more pressure on institutions of higher education to focus on raising funds and private donors rather than holistic student development," he said. "This has led to an erosion of the arts and humanities in favor of more revenue-generating fields like STEM . Universities have ironically become less humane," he said. "Thus, students and their families have serious concerns about 'return on investment.'"

Molly Blythe Doerner, 45, said her two degrees—a bachelor's degree in Art & Media Arts from the University of Montana and a master's degree in Counseling & Art Therapy from Southwestern College in Santa Fe, New Mexico—were "painfully" earned while working part-time jobs and taking out the maximum student loans possible.

She previously worked with adolescents in a therapeutic boarding school but is now working at an Amazon fulfillment center in Mississippi. Her student debt has soared to more than $150,000.

She has lost her faith in higher education because it is "historically designed for purposes of privilege and profit," she tells Newsweek . "I believe there is faith to be found in the millions of people who also took the same bait, to follow their dreams, to learn, or to succeed, only to find themselves in worse positions than they may have been when they began."

Abron would not recommend anyone go to college if they have to get loans "due to the predatory and life-draining cycle of student loans," she said. "It's a debt that follows you to the grave."

On the opposite end of the spectrum, Brooke Schwartz, a 23-year-old from New York State, tells Newsweek that she feels her college education is well worth it. She graduated with a bachelor's degree from the University of Michigan and is now studying at the Fordham University School of Law.

"Higher education allows students to learn about and examine different industries and helps students to develop an entrepreneurial and innovative mindset," she tells Newsweek . "While the costs associated with education are on the rise and quite considerable, I would not have been able to pursue my passion to be an attorney without my undergraduate and graduate degrees."

Judi Hayes, of Orlando, Florida , is also confident that a college education is worth it, though she acknowledges that it is becoming increasingly unattainable for many Americans.

Hayes, 51, graduated from Florida State University and worked as an attorney full-time before moving to part-time work after having children. Now, she is focused on getting her eldest—a high school junior—into college, possibly an Ivy League institution.

"I'm still highly confident in education but that comes from a position of privilege and as the parent of a very bright child who will probably enter a field that requires a degree," she tells Newsweek .

"The paradigm has shifted so far from when I was his age in the late '80s, and you could fall a**-backward into a great public education at a price that wouldn't leave you beholden for decades."

Among parents, there's a "huge dichotomy between the people who can afford higher education and the ones who can't, but feel compelled to mortgage their futures for it," she said.

Teaching Divisiveness

Some of the declining faith in higher education stems from universities becoming flashpoints in the nation's culture wars.

Confidence in higher education has dropped most among Republicans , the 2024 Gallup survey found.

While only 11 percent of Republicans reported having little or no confidence in higher education in 2015, that number is now 50 percent.

Republican lawmakers have been moving to defund or ban diversity, equity and inclusion efforts at universities, saying the programs are discriminatory and promote left-wing ideology. Opponents say the programs are necessary to ensure higher education institutions meet the needs of diverse student populations. Some administrators consider such factors when admitting students, deciding which faculty members to hire and promote or when issuing scholarships.

The decline in confidence "is the result of political polarization and the portrayal of colleges and universities as elitist by populist politicians and populist-aligned media," Reardon said.

Todd Wolfson, the president of the American Association of University Professors, tells Newsweek that declining confidence in higher education can be linked to the far-right's "relentless campaign to demonize and delegitimize the teachers, researchers and students on our campuses. As these polls have shown, their cynical and dangerous propaganda is working."

Higher education has given Americans the chance "to transform their lives and have more security than their parents," Wolfson said. "Higher education is a pillar of our democracy. It leads to critical thinking, an educated citizenry and a better, clearer understanding of the world around us. We have to ask ourselves, why would some want to destroy that?"

Israel's ongoing war with Hamas "has exposed some of the core deficiencies of today's elite higher education institutions," University of Illinois' Razfar argues. "Rather than creating productive, public conversation around core ideological and identity issues, they have cultivated, in the perception of many, greater polarization."

There has been a "serious shift in perception as to whether or not universities are prioritizing the public good over private and sectarian interests," he argues. "This is an absolute nail in the coffin for the future viability of higher education."

This spring, colleges across the country were roiled by protests against the war, leaving universities struggling to grapple with how to balance free speech rights with protection from discrimination amid rises in antisemitism and Islamophobia on campus.

With students now returning to colleges, some schools are adopting rules to limit the protests that roiled campuses earlier this year. The American Association of University Professors has warned that enacting "overly restrictive policies" could discourage free expression.

Michael Thaddeus, a professor of mathematics at Columbia and the vice-president of the Columbia chapter of the AAUP, tells Newsweek that "fostering debate is what universities should be all about."

He adds: "It's a great strength of American society—in contrast to Russia and China , for example—that our universities serve as forums where basic disagreements can be aired.  In an increasingly polarized society, it may make some people dislike us, but that's a price worth paying."

As American society "becomes more and more splintered and polarized, it becomes harder and harder to please everyone," he adds. "Still, we in the academy remain convinced of the enduring value of a liberal arts education, which teaches students to think critically, reason logically, and write clearly. The very trends that are making universities less popular are also making higher education more vitally important than ever."

About the writer

Khaleda Rahman is Newsweek's National Correspondent based in London, UK. Her focus is reporting on abortion rights, race, education, sexual abuse and capital punishment. Khaleda joined Newsweek in 2019 and had previously worked at the MailOnline in London, New York and Sydney. She is a graduate of University College London. Languages: English.

You can get in touch with Khaleda by emailing [email protected]

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• Is college worth it?

Too many degrees are a waste of money. The return on higher education would be much better if college were cheaper

WHEN LaTisha Styles graduated from Kennesaw State University in Georgia in 2006 she had $35,000 of student debt. This obligation would have been easy to discharge if her Spanish degree had helped her land a well-paid job. But there is no shortage of Spanish-speakers in a nation that borders Latin America. So Ms Styles found herself working in a clothes shop and a fast-food restaurant for no more than $11 an hour.

This article appeared in the United States section of the print edition under the headline “Is college worth it?”

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Is College Worth the Cost

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