Is it in doubt that college learning is worthwhile? Some may argue that the price of leaning is prohibitive. However, the overall value of attaining a bachelor’s degree is priceless. In view of the foregoing, a heated debate has emerged as to whether or not college education is commensurate to the cost associated with it. An increase in tuition fees is directly related to an increase in learner debts which makes the attainment of a bachelor’s degree to become an expensive undertaking. However, the overall benefits accrued need not be overemphasized. A study by Tamborini, ChangHwan and Arthur (2015) found out that the lifetime earnings of both males and females is directly proportional to the level of education. The increase in learner loan debts in tertiary institutions is a result of an increase in tuition fees. Furthermore, the labor market is experiencing a high degree of unemployed graduates which begs the question of whether college learning is truly worthwhile. However, in spite of all these shortcomings, college education is of much more importance because of the benefits it affords graduates. Going forward, there exists concerns on the cost of education, tenure, students’ debts, research topics, free expression, and issues on whether college learning offer degree programs and skills that are required in the labor market. This then calls for an accurate reassessment of higher education to identify the warning signs that afflict this sector. In order to make the case for college education, below are some reasons why it is worth it.
Statement of First Main Argument
The main problem associated with the attainment of a bachelor’s degree is the cost one incurs to complete a program. This problem is offset by a higher earning power by college graduates (Leonard, 2014). A survey by Research Leonardt (2014) also indicated that individuals with high school diplomas earn about $36,000 per year compared to an average of $60,000 per year earned by those holding bachelor’s degrees. Higher salaries by graduates imply that they have the ability to repay educational loans with ease. As a consequence, it makes the price of college education to become more reasonable (Bennet and Wilezol, 2013). Below is a graph showing the gross and net salary for men and women based on their level of education. According to Tamborini, ChangHwan and Arthur (2015), the lifetime earnings for males and females is directly proportional to their level of education. Moreover, college learning is a worthwhile undertaking in that it provides opportunities for augmented job prospects.
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Second Main Point: Clarification of the Problem
The labor market needs highly skilled workers which can be filled by bachelor degree holders. Having a college degree is proof enough that an individual has the abilities and capabilities needed in the labor market (Taylor et al., 2011). A recent survey conducted by Webber (2016) indicates that the labor market is raising the academic requirements for various positions. According to the survey, 41% of employers are now hiring college graduates in positions that used to be held by high school graduates. This means that the employment rate is increasing with an increase in the level of education (NCES) (2019). The graph below shows the year 2017 labor force participation level by education level. It indicates that the level of college education in the labor force is higher in both males and females as compared to high school and less high school educational levels. In contrast, critics of college level education argue that college level education is not a good investment in relation to occupational opportunities.
Third Main Point- The Rebutal-Defeating the opposing argument
Opponents of college level education are of the view that this type of education comes with huge tuition costs, a fact that denies learners the opportunity to work at the expense of wasted college life. Webber (2016) is of the opinion that young students are burdened by costly degrees which calls for a need to a “radically dissimilar approach.” However, this view does not change the fact that college education has an economic value that cannot be challenged. Available information reveal that individuals with college degrees earn more than persons without. Guo, Chen and Yu (2016), argued that the monetary returns to earning a 4-year college degree outweighs, by far, any expenses for the typical learner. Moreover, the average college degree holder will earn approximately $900,000 more than the average high school diploma holder in their entire working life. The graph below shows the average hourly wage for persons with college education and those without. According to Amondson (2019), the average hourly wage for the graduates is higher than that of individuals without a degree for all careers. The paper demonstrates that a college education is desirable and worthwhile.
In conclusion, it is important to note that a college degree increases a graduate’s earning power in comparison to those without a bachelor’s degree. Another reason is worthwhile is that it increases an individual’s job prospects. Even though critics of college level education argue that it is not a good investment, the economic value it provides to individuals cannot be understated. It is, therefore, advisable for individuals to invest in college level education to increase chances of getting well-paying jobs as well as increasing one’s job prospects. A bachelor’s degree enables an individual to make a solid investment in his or her future which is worth the price. The payoff for such an investment is huge because it guarantees a brighter future.
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References
Amondson, C. (2019). Special report: is College still worth the debt? College Choice . Retrieved from https://www.collegechoice.net/is-college-still-worth-the-debt/
Bennett, W. J., & Wilezol, D. (2013). Is college worth it?: A former United States Secretary of Education and a liberal arts graduate expose the broken promise of higher education . Thomas Nelson Inc.
Guo, X., Chen, W., & Yu, A. (2016). Is college education worth it? Evidence from its impacts on entrepreneurship in the United States. Journal of Small Business & Entrepreneurship , 28 (1), 1-26.
Leonhardt, D. (2014, May 27). Is college worth it? Clearly, new data say. The New York Times . Retrieved from https://www.nytimes.com/2014/05/27/upshot/is-college-worth-it-clearly-new-data-say.html
NCES. (2019). Employment and unemployment rates by educational attainment. Retrieved from https://nces.ed.gov/programs/coe/indicator_cbc.asp
Tamborini, C. R., ChangHwan, K, & Arthur, S. (2015). Education and lifetime earnings in the United States. Demography 52, 1383–1407.
Taylor, P., Parker, K., Fry, R., Cohn, D., Wang, W., Velasco, G., & Dockterman, D. (2011). Is college worth it? Pew Social and Demographic trends.
Webber, D. A. (2016). Are college costs worth it? How ability, major, and debt affect the returns to schooling. Economics of Education Review , 53 , 296-310.
