Argumentative Essay: Should Everyone Go To College

When you think of college, you don’t question if it is a good or bad investment for starting your future. Most people would say that college is the best decision you will ever make, but Stephanie Owen and Isabel Sawhill, estimate the rate of return to education in “Should Everyone Go to College?” Two important factors to consider when thinking about your college career include the type of institution you want to attend and the field of study you are going into. Not all people have the same college experience and many college students get degrees that have low average income earnings.

Students who attended the most selective private schools have a lifetime earnings premium of over $620,000 as opposed to those who attended open admission schools

earned a third of that. This suggests that public schools tend to have higher rate of return on investment than private schools, but more selective schools offer even higher returns on education. After considering the amount of financial aid, graduation rates, and how many years it takes for you to graduate, this could have a negative effect on the student and where they want to attend. Schneider’s analysis states that in 2010 the rate of investment for a competitive school is 9 percent but that the highest rate in the category is 12 percent. (pg 213, para 1) However, when you consider the amount of aid given, on the 2012 list, the annual rate of interest increases 50 percent to a return of 9 percent. (pg 213 para 2) Selecting a more private school can have a major impact on the rate of return in achieving a bachelor’s degree, then choosing a less selective school.
All degrees are not smart investments and the field of study a student chooses has a large impact on what they get out of their degree.

Recent analysis by the Census Bureau shows that the lifetime earnings of workers with bachelor’s degrees vary widely by college occupation and major. Three schools with the highest rate of investment on the 2012 pay scale were Harvey Mudd, Caltech, and MIT. (Pg 215 para 1) Those who work in science, technology, engineering, and math are the highest paid majors as opposed to those working in education, art, and psychology. Not all degrees are created equal, so someone with a high school degree but who is working in a STEM job, has the potential to make more than some with a bachelor’s degree in art.

Many college students don’t think about the rate of return to education and many don’t consider if their investment will pay off once they enter that career field. However, we have reason to believe that the return to college is high if financial aid is factored in to help the student with costs of a degree and the field of study is determined. Although a bachelor’s degree isn’t the best option for all college students, higher education is a good investment if you want enhance your career and average lifetime

earnings.