Is the Tassel worth the Hassle?
Price of college and student debt
College price has gone up drastically and is still increasing. More and more students have to take student loans out to afford college. In the United States the student loan debt is valued at 1.29 trillion. That is a ridiculous amount of money. Most colleges cost upwards of $40,000 a year. With some schools reaching nearly $70,000 a year. Unless your parents are extremely wealthy it is barely possible to pay for this without taking out a loan. It is tough to support yourself while you are paying off a student loan debt when you get out of college. This is what really raises the question is the tassel really worth the hassle?
Does going to college increase your income?
In today's world there is an increasing need for a college degree. An economic analysis found that adults ages 25-32 who went to college were making $17,500 more annually than the people who only have a high school degree. If you have a college degree you also are more likely to be employed. People with a college degree have an 89% chance of being employed, while people without a college degree have an 82% chance of being employed. Also if you have a college degree you have a 3.8% chance of being unemployed and if you only have a high school degree you have a 12.2% chance of being unemployed. There is also an 86% chance that a person with a college degree's job is a stepping stone in their career. While there is a 57% chance that people with a high school degree's job is a stepping stone in their career. Clearly, college does make a large improvement in your chance of making money and getting a good job. It is not a guarantee though.
So, is it worth it?
Yes, attending college is worth it. Even though there is a good possibility you leave with a chunk of money owed in student loan debts. The chance of being unemployed with a college degree is significantly lower than the chance with just a high school diploma. Not only that, people with a college degree also make $17,500 more annually than someone with just a high school degree. There are also life skills you will learn in college that will make the transition to the real world easier such as, learning how to manage your time. In college you are completely on your own. There is no parent there telling you to do work or wake you up in the morning. This will make the transition to living on your own a breeze. Not to mention college is where people meet friends and form relationships that will last a lifetime. Even though most people that attend college end having student loan debt, it lowers the chance of being unemployed, helps prepare people for the transition to living on your own and allows you to form friendships that will last a lifetime, so yes the tassel is worth the hassle.
“The Rising Cost of Not Going to College.” Pew Research Center's Social & Demographic Trends Project, 11 Feb. 2014, www.pewsocialtrends.org/2014/02/11/the-rising-cost-of-not-going-to-college/.
Stoetzer, Ethan. “Federal Reserve Report Finds Link between Increased Federal Aid, Rising Tuition.” USA Today, Gannett Satellite Information Network, 20 Aug. 2015, college.usatoday.com/2015/08/20/report-federal-aid-rising-tuition/.