Benefits of Going to College
There are various economic benefits of attending
college. One of the benefits shown in the figure 3 chart, shows that the person who attended college made cumulatively $150,000 dollars more than the person who only had a high school degree. The Huffington Post also reads that people who only have a high school degree make only 62 percent of the money that college graduates make. The article also states that people who have their GED are more likely to live in poverty. With 22% of people holding only a high school degree in poverty. A person who has a college degree has almost twice the median income than a person who only holds a high school diploma the model in “The relationship between education level and household income” suggests. College graduates aren’t hit as hard by recessions than people who didn’t go to college. The Washington Post says that they actually were able to gain jobs compared to the GED holders. A graph from a handout named “Educated workers are less likely to be unemployed” suggests that unemployment rates are higher for people who did not go to college as well.
Disadvantages of Going to College
There are also risk factors when considering pursuing a higher education. One of those risks is student debt. The Washington Post tells us that Student debt increased to $1.08 trillion in the last few years. Student debt threatens millions each year. Attending college also puts you in debt for opportunity costs. The “Costs of College” chart shows that you lose more than ⅓ the amount of money it costs to attend college by not working. This can be bad because you are losing money when you could be gaining money. Debt is a big issue for many people. Saniquah Robinson, a woman who is suffering through $82,000 worth of student debt doesn’t think that the benefits from getting a college psychology degree is worth the debt that it put her in. She hasn’t found a degree in her field and her family was not able to buy a house because of her debt-to-income ratios. The crippling debt from going to college can put many people at a disadvantage.