If you’ve been weighing the costs and returns of a college education, you’ve probably wondered: Is it worth it? Here are some reasons why college education is worth the cost and time. The first reason is that you’ll get a higher income. The second reason is to avoid being unemployed – a college education can increase your odds of getting a higher-paying job. Regardless of why you decide to attend college, here are a few benefits:
Investing in a future
Many people start college but never finish, incurring costs and not earning a degree. Although college is one of the biggest investment in human capital, the report found that other factors such as upbringing and education also contribute to a person’s success. The U.S. spends over $2 trillion on education annually. According to the Georgetown University Center on Education and the Workforce, a four-year degree does not always translate into higher pay or a better career.
The cost of a four-year college education is rising at a staggering rate. In fact, the average cost of a two-year undergraduate program at a public four-year institution has tripled over the last 25 years. Private nonprofit institutions’ average tuition and fees increased by 34%. Public institutions’ average tuition increased by 26%. Despite the increasing costs of college education, the average cost per student remains relatively constant. Even the lowest-priced four-year institution costs more than $30,000 for tuition and fees.
If you’re not sure whether or not college is right for you, here are a few reasons why you should consider continuing your education. One of the most important benefits of a college degree is that you’ll have access to high-quality benefits. Your employer is likely to offer more vacation time and better healthcare costs, and may even have better retirement investment options. Not only will this make life after graduation easier, but you’ll also take the burden of saving for rainy days off your employer.
According to Georgetown University’s Public Policy Institute, college graduates with a bachelor’s degree or above enjoy lower unemployment rates than their high school peers. The unemployment rate for college graduates is 2.1 percent, while that of non-grads is 4.3 percent. But how much of a difference does education make in your chances of landing a job? The type of degree you get, as well as industry, will determine your chances of finding a job. Science and engineering majors are considered the best choices for job security.