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Importance of college education abstract
What are the benefits of pursuing higher education
Importance of college education abstract
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“Once students graduate from college, they need to be prepared to start paying back any loans they took out for school” (Mooney 49). Sad truth about going to college is being in debt and trying to get hired. Even “About 70 percent of 2015 graduates had student loan debt” (Mooney 49). Naturally the only ones who aren’t in debt are the people who can afford college, but for most it is just too expensive. Even though college is important, it is not worth the price, because it puts people in debt, which ruins students credit, is extremely overpriced and students can live without it. Some people may say college loans aren’t that expensive, but everyone knows that isn’t true. College puts students in outrageous amounts of debt, which ruins their credit. As a matter of fact, “Students today are taking on more debt, and recently tightened bankruptcy laws make it more difficult to shake that debt” (Wieder). If people who attend college spend years trying to pay off college, what is the point in going? People go to college to gain an education on the job they feel passionate on learning, only to spend many years worrying they might not pay off the rest of their loans. In fact, ”The average student graduated with $35,051 in student debt” (Mooney 49). Everyone can agree 35,000 is a ton of money to have in debt. I can’t see why it is worth it to waste so much time.
College has been expensive for many, many years and it’s costing people loads of problems financially. No one wants to be in debt. College isn’t even needed to be successful in life. In conclusion, college may be awesome for you, but is it really worth all the expenses and problems it will bring? Not going is best for your financial health, because debt is all college will bring to the
One statistic that Owen and Sawhill presented was “Hamilton Project research shows that 23- to 25-year-olds with bachelor’s degrees make $12,000 more than high school graduates but by age 50, the gap has grown to $46,500 (Figure 1). When we look at lifetime earnings—the sum of earnings over a career—the total premium is $570,000 for a bachelor’s degree and $170,000 for an associate’s degree. (Owen, Sawhill pg 641). Owen and Sawhill also mention that “with tuitions rising faster than family incomes, the typical college student is now more dependent than in the past on loans, creating serious risks for the individual student and perhaps for the system as a whole, should widespread defaults occur in the future. Federal student loans now total close to $1 trillion, larger than credit card debt or auto loans and second only to mortgage debt on household balance sheets” (Owen, Sawhill pg 642). Basically, what the authors are saying is college is expensive, but for some career paths, the training and education received in college is necessary to have that job and the benefits outweigh the costs. With a high paying career where a college education is necessary, paying off student loans is no problem. On the other hand, people who go after low paying careers that don’t necessarily need a college degrees,
Is college worth it? This is a topic that has been heavily debated for years, and years to come. The late nights, stressful debts, and long papers due- not accepted a second late; does that make up for the amazing memories, high paying jobs, and social connections? Absolutely. The experience college can give is remarkable. College is a valuable experience because individuals who attend will have a lower chance of being unemployed, will be in better health, and paying off debts will be possible!
Overall, college is not a good investment for anyone but the college that you’re paying. It costs too much teaches you few life skills, and doesn’t jive with everyone. As such, it’s recommended that you skip out on college and learn how to live how to live in the real world
Many people would agree that our country’s young adults have and continue to incur a lifetime of debt by enrolling in college. It’s become an almost acceptable understanding that if you plan to attend college, you might as well expect to graduate with an enormous amount of debt. Robin Wilson, a reporter for the “Chronicle of Higher Education,” and author of “A Lifetime of Student Debt? Not Likely” suggests student loans are very real and can be life altering.
Everyone knows that going to college and getting a degree is the most effective and guaranteed route to ensure a prosperous financial future, right? College is considered by most to be the best investment you can make in life, but what happens when that investment leaves you drowning in thousands of dollars in debt right after graduation day. This is the situation that millions of college graduates are faced with in 2016. Rising college tuition perpetuates student debt and is on a sharp incline and it seems to have no ambition of ever slowing down. The effect of this catastrophe is felt by millions of families across the country who now question, “is college really worth it?”
Is College worth the debt? You and I can both agree that education is vital in this day and age. But is it smart to take the risk and not go to college? College is worth the debt because after everything is done, you will have something to show for it. In the end you will make more money, you would have gotten a higher education and you will end up being happy with what you have and are going to accomplish.
An education is one of the most important tools a person can acquire. It gives them the skills and abilities to obtain a job, earn a wage, and then use that wage to better their lives and the lives of their loved ones. However, due to the seemingly exponential increase in the costs of obtaining a college degree, students are either being driven away entirely from earning a degree or taking out student loans which cripple their financial prospects well after graduation. Without question, the increasing national student loan debt is one of the most pressing economic issues the United States is dealing with, as students who are debt ridden are not able to consume and invest in the economy. Therefore, many politicians and students are calling on the government to forgive their student loan debts so that through their spending the slowly recovering economy can finally return to its pre-2008 strength.
Doyle states in his article, “As of this writing, the total amount of outstanding student loan debt has been estimated at $960 billion (Kantrowitz, 2011).” Right now, there is only 7.4 billion people on earth, but not all of those people are in debt. So, massive debt with not near enough people to even cover the debt on the whole planet put this issue into perspective. Many people talk about applying for scholarships but scholarships can only cover so much of the price, and even then, the scholarships aren’t guaranteed. Now what about paying off the loans? How will that take? “First, incomes vary tremendously across different choices of majors and professions. Second, the incomes of individuals starting out in the labor market vary according to the state of the labor market at that time.” There are many different factors that go into this process. As stated in the previous paragraph, those who do both work and school are more apt to pay their debt off at a quicker pace. But, how much they make and how often they paid is another contributing factor. If the average college student is making minimum wage (part time) and is going to an in
Most people today accept the debt that comes from college. Students consider student loan debt as a “good debt.” They see other students make this mistake but follow their path anyway. Nearly 80% of college-bound students have not projected the total amount of money they will need to graduate college.
Attending college has changed quite a lot throughout the years. When it first arose, it was only accessible to the wealthy, and it was unheard of for everyone else. Only a few decades ago a bachelor degree could almost guarantee a comfortable job, and it was another advantage to any resume. In our current times, many students struggle and are unable to go to college due to the rising price tag that is not showing any signs of slowing down. A college degree is what most employers look for now-a-days, making it more essential than ever before. Unfortunately, it is becoming increasingly difficult to attain one. College tuition and fees should be lowered because 1) student loan debt is crippling for college graduates, 2) lower tuition will increase the accessibility of education, and 3) regulated tuition would lead to a
It is a norm and expectation in society today for students to pursue higher education after graduating from high school. College tuition is on the rise, and a lot of students have difficulty paying for their tuitions. To pay for their tuitions, most students have to take out loans and at the end of four years, those students end up in debt. Student loan debts are at an all time high with so many people graduating from college, and having difficulties finding jobs in their career fields, so they have difficulties paying off their student loans and, they also don’t have a full understanding of the term of the loans and their options if they are unable to repay.
Children of the twenty first century spend nearly 13 years in school, preparing for what is college, one of the only ways to achieve the so-called “American Dream”. College is the best way to start an advanced career and go further than one possibly could if college degrees were not available, allowing people to achieve their view of the American Dream; whether it be large houses, shiny cars, multiple kids, or financial comfort, college is the stepping stone to achieve the American Dream. But all great things come with a price, college dragging along debt. Students who attend college struggle to find ways to pay for it, leading to applying for student loans. These loans a great short term, paying for the schooling at the moment but eventually the money adds up
Four-year colleges’ tuition is rising by each year, so college education would be a heavy financial burden for people who pay tuition and housing during school years in debt. They could not afford school and housing expense for various reasons, such as low-income family background, but they still did it by taking loans because they hope that they could gain more benefits by doing such a investment. However, it would not be a wise investment when the person could not clear off the costs of investing, and many colleges graduates would not pay off their students loans in five years after graduation. A famous journalist Edward McClelland says “In a recent survey, 24 percent defined the American Dream as ‘not being in debt.’ They are not trying to get ahead. They are just trying to get zero” (553). Being debt would hold back those people by not achieving all the other goals freely, including their American dreams, and they have to delay everything excepting paying debt first. Certainly, believing that attending college would always make individuals better off is misleading, but investing college education by being debt in ten years would only be
College education goes about the way to an effective future for people who are not kidding with it. Currently, a college education has turned in the base necessity in securing a job in different companies and although some people might think college is not worth the debt, in a long run it actually is.
There is a thin line of people who should and should not attend college. That is a huge decision that could either be the best decision they have ever made or it could be a costly mistake causing thousands of dollars of debt to pile up. There are reasons such as costly tuitions, unnecessary fees, no guarantee of a career, piling of debt, and questionable educational quality, that lead me to believe that college is not worth the money people pay for it.