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Debates whether or not the whole college process is worth your time, money, and effort

Is The Tassle Worth The Hassle? 

Economic benefits, potential debt issues, and whether or not college is worth it

     When you think about college, do you hear the words "economically beneficial?" Many people hear things like "paying off debt for the rest of my life." Contrary to popular belief, investing yourself in a college education can pave the way for your future in a positive way. 

     In Learning & Earning, an article by The Mint discussing the financial benefits of attending college, it is specifically stated that you will in fact make more money by taking that extra step. According to the article, the average annual income for one with a professional college degree is $71,258. On the other hand, those with only a high school diploma earn approximately $18,571 each year. A difference of over $50,000 is nothing to shy away from. By investing excessive amounts of time and money into a place that seemingly only provides endless debt, you're going to be the one with more dough in the end.

     The average earnings of college graduates in 1996 were 55% higher than those of high school graduates. An article titled Earnings Premium to Costs of Education displays a graph showing  estimated cumulative earnings net of college costs. It shows that each additional year of work adds to the cumulative financial benefit of a college education.








Economic Benefits of a College Education

     Sure, a college education has its perks...but have you considered how long you'll be paying off what you've invested? Former college student Saniquah Robinson discusses her struggles in an article she wrote, titled My Degree Isn't Worth the Debt!. She reports that she has about $82,000 in debt resulting from college. When she wrote this informative article, she'd had a Master's for three years already and was still searching for a job position. She'd had interview after interview as she searched for a position in the medical field, but still found herself doing contract work for $19 an hour. 

     According to the Federal Reserve Bank of New York, student debt continues to top $1 trillion. Loan applications for home purchases have dropped almost 20%, an analysis by the Mortgage Bankers' Association says. Fewer college graduates are buying houses because they simply can't afford it. The debt that envelopes students after graduating is a lasting effect, not something that can just be brushed under the rug. If you're still stuck in college debt, buying a house is only going to add to it.

     In an article by Rolling Stone, Matt Taibbi discusses the impact of college loans and how much they can increase over time. One former student had taken out a loan of around $38,000. This original price ballooned to an abominable $100,000 in no time. Interest, fees, and the overall cost of college really gets people it really all worth it?



Potential Debt Issues

So, College...To Go or Not To Go?

     Is the pressure of attending college getting to you? Or are you genuinely interested in going? Is the amount of money required to invest worth it? Or does it seem like a pointless waste of money to you? The choice is yours. What you want to do is up to you, and no one else.

     While there are benefits of a college education, the amount of debt you could be paying off for years might not be worth it in the long run. On the other hand, there are so many opportunities out in the world with a college degree. It's also been proven that in the grand scheme of things, those who go to school end up with more money than those who don't. However, not having a degree doesn't mean you can't get anywhere, either.

     Overall, what you want is what matters. If you decide to do something simply because other people want you to, you're never going to be happy. Prioritize the things in your life. Do what is best for you.


Works Cited


1. "Learning & Earning." The Mint (2003): 2. Web. 11 Oct. 2016.


2. "Earnings Premium Relative to Costs of Education." Education Pays the Benefits of Higher Education for Individuals and Society (n.d.): 1. Web. 11 Oct. 2016.


3. Robinson, Saniquah. "My Degree Isn't Worth the Debt!" CNNMoney (2011): 1-2. CNN. 2011. Web. 12 Oct. 2016. 


4. Elboghdady, Dina. "Student Debt Is Terrible, in Charts." Evernote. N.p., 18 Feb. 2014. Web. 12 Oct. 2016.


5. Taibbi, Matt. "The College-Loan Scandal." Rolling Stone. Jann Wenner, 29 Aug. 2013. Web. 12 Oct. 2016.