Is Higher Education Worth the Price?

 

What is Higher Education?

Higher education, also called secondary school, is defined as a voluntary study beyond high school. This usually includes a college, university, community college or technical school. There are different versions of college. There are online degrees, degrees you obtain by going to in person classes, part time classes, full time classes, or a mix between online and in person classes. Most programs average to 4 years, depending on the vocation however, some take 2 years or less. The important part is that it is catered to the individual. 

How much does tuition cost?

In the U.S the average cost to attend college is $35,720 per student per year. 
The average of in state tuition is $9,580 while out of state tuition is $27,437.
The cost of a private university is $53,949. 
Annual Cost of College
Public InstitutionsCost of TuitionAdditional Expenses*Cost of Attendance
4-Year In-State$9,580$16,284$25,864
4-Year Out-of-State$27,437$16,284$43,721
2-Year In-State$3,372$12,665$16,037
Private InstitutionsCost of TuitionAdditional ExpensesCost of Attendance
4-Year Nonprofit$37,200$16,749$53,949
4-Year For-profit$13,475$21,073$34,548
2-Year Nonprofit$17,294$17,262$34,556
2-Year For-profit$15,974$13,984$29,958

An Alarming Reality

Prices for colleges have doubled in the last few years. The article 'Are Colleges Worth the Price of Admission' mentions," if parents can't pay, young people often find themselves burdened with staggering loans. Graduating with six figures' worth of debt is becoming increasingly common"(Hacker, Dreifus p.179). This is not even covering the price for housing, food, and supplies. It can take people up to 30 years to pay off their student debt. This often means that the debt has picked up interest. As if the cost of college was not enough, most students need to pay the loaner of that money a percentage for every year they do not pay. This means that a $500,000 debt could translate to even a 1 million dollar debt if not paid in time.



Since this is a very big responsibility, many people have put off buying a house, getting married and even having children for the prime reason that this would add more to the debt.  In New Jersey the average cost of a wedding is $30,357 and the average cost of a home is $500,628. With added expenses, this could mean that any extra money from the person's paycheck would most likely go towards paying debt rather than the recommended balance of bills, debt payment, savings, investment , and retirement fund. Even though most people with college degrees believe getting one guarantees working less, this may mean having to work more to pay of the debt. 


The Schools are Not Keeping Up

It is no doubt that schools demand a lot from students. The article mentioned before, 'Are Colleges Worth the Price of Admission?' highlight that if this is the case and students are paying so much for their education, a lot needs to be demanded of colleges as well. The article has a few suggestions:
  • The article mentions how, "universal enrolment should be our nation's goal"(Hacker, Dreifus p.180). Many students sadly miss out because they do not have the time or the resources. Even though certain accommodations exist this still may not be enough. Some steps could be to lower tuition costs, provide the mandatory materials such as text books for free, provide childcare discounts for students with children, and allow for more flexible schedules. These simple changes could make the difference for many people who wish to attend college but their current circumstances do not allow them to. 


  • The article also mentions how the type of degree also matters. "56% of undergraduate students are enrolled in vocational majors instead of choosing fields like philosophy, literature and physical sciences. We'd like to persuade them that supposedly impractical studies are a wiser use of college and ultimately a better investment" (Hacker, Dreifus p.180). These are known as the liberal arts. The article 'The New Liberal Arts' written by Sanford J. Ungar states 7 different misconceptions involving why many people do not choose a liberal art career. 
    1. "A liberal-arts degree is a luxury that most families can no longer afford"(p.191).
    2. "College graduates are finding it harder to get jobs with liberal-arts degrees"(p.192). 
    3. "The liberal arts are practically irrelevant for low income and first-generation college students"(p.192).
    4. "One should not, in this day and age, study only the arts"(p.193). 
    5. "It's the liberal Democrats who got this country into trouble in recent years, so it's ridiculous to continue indoctrinating our young people with liberal education"(p.194).
    6. " America is the only country in the world that clings to such old-fashioned forms of postsecondary education as the liberal arts"(p.194).
    7. "The cost of American higher education is spiraling out of control and liberal-arts colleges are becoming irrelevant because they are unable to register gains in productivity or to find innovative ways of doing things"(p.195). 
This article tackles each of these misconceptions one by one and proves them wrong. The curious thing is that one can find similar misconceptions about the majority of professions. It is true that finding employment, obtaining a decent pay, and making sure the degree is actually worth something is a price everyone wants to calculate before picking a career. And it is true that some careers pay better than others. However, the point of the article is that a person should not steer away from something they are passionate about merely because they don't believe it would pay off. It is better to choose a career that brings happiness than one that pays well but that a person does not find joy in. 



  • The article regarding the worth of a college education also suggests for donors to give their money to colleges that actually need it. Even though ivy league colleges are well funded, they still receive millions of dollars in donations every day. The suggestion for donors, "Pick another college-there's a long, deserving list- and send your check where it will truly do some good" (Hacker, Dreifus p.183). 

Is it worth it?

  

Many studies show that people who have college degrees end up making more money in the long run. However, is it a job requirement? Many companies, especially big companies such as Apple and Google are no longer making it a requisite to be a college graduate and have a college degree. As a matter of fact, many billionaires such as Mark Zuckerberg never finished college and some did not even graduate high school. Therefore, technically college is not necessary. What is necessary are the skills to run a business, make good decisions and investments, or whatever specific skill is involved in the desired job. However, even though it is not necessary it could be a security blanket. Even though a college degree does not guarantee employment it could facilitate an advantage over someone who does not have a degree when it comes time for an employer to pick a person for a job position.
 

 

My Opinion

In my opinion, although I value a college education I don't think the price is fair. In American culture, it is the norm to get a college degree. Counselors starting at eight grade already try to pressure students to go to college. And although they do it with the best intentions, a belief has been created that one NEEDS to go to college and if you don't then you wont succeed in life. Not only that but that one should do it as soon as possible with disregards to finances which would be taken care of later. I don't believe a college education is necessary to succeed, even though it may open many doors. It sounds ironic because I am in college however, I was only able to apply because I had financial aid. If I did not have financial aid I most likely would not have pursued a career that required a college degree. This is the reality of many people, and some are not as fortunate to have a fraction of the aid most students are offered. Also, not everyone needs to attend college. Some careers require partial training or merely skill and talent. I believe school systems should encourage the students to try their best to get good grades so they can get scholarships. And not only that but begin to inform them about grants and aid from early on so this is not a foreign topic they encounter their senior year. But most importantly, lower college costs so a decent lifestyle can be accessible to most people who are also hard workers but can't afford a degree. By doing this, a higher education might be worth it and those students would have the opportunity to make the best impact in society they possibly can. 
In the meanwhile I agree with the words of Beyoncé, " Who needs a degree when you're schooling life!"

Citations

 Pries , A. (2021, May 5). The average price of an N.J. Home is $100k more than what it was last year. nj. Retrieved October 17, 2021, from https://www.nj.com/news/2021/05/the-average-price-of-an-nj-home-is-100k-more-than-what-it-was-last-year.html.

Above The Noise. (2020). Is College Worth the Time and Money? YouTube. Retrieved October 17, 2021, from https://youtu.be/CfoGLH7kQLs.

Beyoncé. (2013). "Schoolin' Life" from 'Live in Atlantic City'. YouTube. Retrieved October 17, 2021, from https://youtu.be/RaXbRWMdAB0.

Debbie Carlson August 11. (2017, August 11). Is college education worth student loans debt? - ticker tape. The Ticker Tape. Retrieved October 17, 2021, from https://tickertape.tdameritrade.com/personal-finance/college-expenses-worth-education-16073?ef_id=CjwKCAjw8KmLBhB8EiwAQbqNoBYr4CtfQm5DRryrfWFAybR_b36Cc4ba7xLaYusdBnLn7buwtBFPaBoCXT0QAvD_BwE%3AG%3As&s_kwcid=AL%212521%213%21525876119209%21b%21%21g%21%21&CID=PSDSA.

Hacker, A. , Dreifus C. (2012) Are Colleges Worth the Price of Admission? "They Say/ I Say" The Moves that Matter in Academic Writing. Second Edition, 179-188. 

Hanson, M. (2021, August 15). Average cost of college & tuition. EducationData. Retrieved October 17, 2021, from https://educationdata.org/average-cost-of-college.

Hurst, A. (2021, August 2). Average cost of a wedding: By State and feature. ValuePenguin. Retrieved October 17, 2021, from https://www.valuepenguin.com/average-cost-of-wedding.

NBC Nightly News. (2021). Is College Worth the Money? YouTube. Retrieved October 17, 2021, from https://youtu.be/SZM1smkZzbg.

Ungar. S,J. (2012) The New Liberal Arts "They Say/ I Say" The Moves that Matter in Writing. Second Edition, 190-196. 

What Is Higher Education? Learn.org. (n.d.). Retrieved October 17, 2021, from https://learn.org/articles/What_is_Higher_Education.html.



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