Is College Worth the Cost?
A college degree doesn’t come cheap. When you add up the cost of tuition, room and board, books, and various fees, many of today’s college graduates (and their parents) can look forward to years of hefty student loan payments. Not such a big deal for those who have degrees in high-paying fields who are able to quickly find employment. But for those who graduate and have a tough time finding a job in their desired field or who take a job in a field with a low salary, crushing educational debt can make it hard to get ahead. A recent article in USA Today highlights the struggles of college students trying to get the best educational bang for their buck – including abandoning their expensive “dream schools” and giving a hard look at the option of attending less expensive state schools and community colleges.
While most agree that a college degree is worth the cost, we were surprised to find a new Zogby-Scoop44 poll showed that among those with college degrees, 25% don’t think a degree is worth it today given the high price of attendance. That’s a pretty significant number coming from those who know first-hand about the costs and benefits of having a college degree. But it’s also important to note that we asked about the cost and benefit of a college degree today – many respondents likely earned their degrees when the cost to attend college was much less.
Over at Scoop44, Alexander Heffner gets the perspective of some current college students and professors on the subject of today’s high college costs including, Patricia Graham, a longtime professor of history and education at Columbia University’s Teacher’s College, who cautions: “Making more money, though, is not the only reason to go to college.”
Making more money certainly isn’t the only value in earning a college degree, but as college costs continue to rise and the overall economy struggles, many prospective college students may be doing the math to determine if a high-priced degree is worth the expense. Do you think a college degree is worth it today? At what point, if any, do you think a college degree becomes too costly and do you think college costs will ever reverse the trend and become more affordable?
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If you’re reading this, you know my email address, STOP, NOW.
Interesting choice of words.
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The cost of college has always been comparatively expensive. A B.S./B.A. degree is today’s equivalent of the high school diploma 20-25 years ago. Yes, it’s worth the cost and students can always consider less expensive options such a two years at a community college before going to a university. They can also do it the way I did for both my B.S. and M.S. — working their way through it. If the desire is truly there, they’ll find a way to pay for it.
University of Tennessee graduate, high honors with a Masters in Science/Education… Take home pay of $26,000.00 after 7 years of teaching in the State. Supporting three kids and paying a Student Loan payment from this pay. Worth it money wise? No way. psv
I agree the costs of a college education are pricey, but I wouldn’t change a thing, if I had to do it all over again. You meet so many interesting people who really help to examine the way you see things. Yes, I struggled and am still struggling to pay my student loan. Yes, it took me awhile to find a good job in my field, but at the same time, it made a stronger, more rounded person. I wish that the cost of higher education would become more reasonable, as I would like to someday get my graduate degree.
For me, the college experience is about more than costs and money…it’s about my hunger for knowledge and opening my eyes to what is really out there.
Half the kids who go to college will never break even when one considers the lost work hours. Four year degrees are dime a dozen. A young person would be better off to get a good union apprenticeship, plumber, electrician, crane operator . . . .
But for those who choose not to get that degree and instead pick a vocation requiring good health and physical strength – what do you propose to do when your youth is just a memory? I earn less than Pat and I have been working 3 times as long at my current job. But that education is like an insurance policy of sorts in that I can still work despite age and infirmity. In my region, I have seen people drop like flies from the employment rolls when their physical stamina is not enough to keep up with the newest batch of kids ready to replace them.
I graduated from Clarkson U. (nee College) in ‘62 and it got me my first job at Boeing. 3 years later I started working for the City of Seattle and now have a good pension but I honestly don’t know if my degree world have been worth much in the ‘82 job market. If you have been working the same job for 21 years and want some kind of fall back security . . . better take some post grad courses.
Bill, been there, done that. I work in a field without much upward mobility. However, what I do is extremely interesting, and as I said, I am still doing it. My degrees have paid for themselves, since I would have had to have found less strenuous work about 15 years ago, if I had relied on my physical abilities. There are never enough jobs for older folks with limited education. THAT’s where the investment in my education has come in handy.
And my spouse – total unemployment without the education.
I was fortunate because 55 years ago I got almost a full scholarship and a work/study grant to Reed College, one of the finest colleges in the country, and then and now, one of the most expensive. The $900 for board and room at that time was unaffordable for me and many others. I can’t even remember what the tuition was — probably around $1500 — also out of reach! My summer job paid $.90 an hour. I would not trade my education there for anything, and today, if I knew at 18 what I know now, I would beg, borrow and do anything short of steal to attend Reed. Money is not what an education is all about. I have had a number of careers, and none of them related in the slightest to my degree in Medieval German Literature. The point is in learning how to learn, so you can roll with the many punches life throws you! The point is going far beyond rote memorization and learning for the test. The point is the intense exploration of ideas and the history of ideas with other people who care about them just as much as you do. You will forever have an exciting life of the mind that will see you through.
Worth it? It all depends on what you do. My ex-husband makes more than I will ever make, and he has more job security than I will ever have, and he is only a high school graduate. To do what I do, a degree is required. I am back at school to obtain a Master’s now because I can’t move up until I do. I don’t love what I do for a living. But it’s a living. Will it be worth it? I don’t know, but I am taking one or two classes per semester and paying for it is cash. At least I won’t have any student loan debt to worry about when this is over. I am an older student, but there are people in the program that are even older. So I suppose a few people think it is worth the time and effort. But I have to say that the knowledge is the best part, and that can’t be measured in dollars.