The Value of a College Education
The Value of a College Education As tuition costs continue to rise to levels higher than ever before,many are asking, is a college education worth the financial investment'What exactly is the value of a college education' The answers to thesequestions lie in the economic, societal, and personal benefits that acollege education enables. The financial burden of debts and lostpotential wages carried by many who choose to pursue post-secondary studiesis certainly present. However, evidence indicates that the long-termbenefits of completing college far outweigh the costs, and these benefitsextend past the individual to their families and society at large. Post-secondary education is an investment that will never depreciate.Once attained, a college degree will enable individual to earn more in thelong run. In fact, the rate of return on investment in higher education issubstantial enough to warrant the financial burden often associated withthe pursuit of a college degree. On the whole, college graduates earn morethan those with only a high school diploma. According to the NationalCenter for Education Statistics, the median annual in come in 1999 of male
Overall, the evidence provided byresearch indicates the multitude of personal benefits for those that pursuecollege education. However, the average incomes in 1999for males with a bachelor degree were $52,985 and $37,993 for females. College attendancehas also been shown to enhance knowledge of world affairs, decreaseprejudice, and enhance social status. Children of college-educated individuals havebeen found to be healthier, perform better academically, and are morelikely to attend college themselves than children of those with lesseducation. Women with higher education have been found to spendmore time with their children and use this time to better prepare theirchildren for the future. They also tend to earn less than individuals from two-year colleges who have the same number of years of education. This demonstrates the drastic disparity in earnings between individualswith college educations and those with only high school diplomas. The survey also reports 62 per cent who think, contrary toevidence, that university graduates are just as likely to be unemployed ashigh school graduates. The public benefits of college graduationinclude increased tax revenues, greater productivity in the workplace,increased consumption, increased flexibility in the workplace, and asmentioned before, decreased reliance on government financial support. Although the evidence thus far has pointed to the benefits provided byhigher education, some argue that the population at large is becoming overeducated, and that degrees are now a dime a dozen. Therefore, higher education leads to better individual financial situationsand an improved economy. Historically, institutions of higher learning have been the mostoptimum venues for cultivating social change. Overan adult's working life, high school graduates earn an average of $1.
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