Over the past several months, a significant amount of information has circulated through the press about the rising number of student loans being defaulted on and the proposed budget cuts suggested by President Obama for Pell Grants. In addition, most people are fully aware that even with a college degree, sometimes securing a good paying career is challenging. Even for people who do get jobs out of college, many go into fields that have nothing to do with the earned college degree. All of this combined makes you wonder if a college degree is worth the cost to achieve.
Although it may not seem like it, the answer is a resounding “yes” and we want to tell you why. In actuality, there are a number of reasons that money spent on a college education is considered an outstanding investment. For one thing, while the current economy has faced some serious challenges and even though experts believe the downturn will continue for several years, the situation is only temporary. The United States has faced struggling economies many times over and although it takes time, things always turn around so even though the situation is currently difficult, the economy will get better.
Another thing to consider is that regardless of the area of study, larger corporations, those with the best pay scales typically look for employees with a degree rather than a specific degree. In other words, most of the larger corporations in the United States feel that people who have taken the time, put in the effort, and paid the price to earn a college degree would put in the same time and effort to the business. Although it would be ideal to hire someone with a degree that coordinates with the job, simply having a degree at all would likely be to your advantage in securing a job with great growth potential.
The other factor to consider is that people with a college degree make a higher salary. If you were to compare salary of two employees, each working for the same company and each doing the same job, you would see the individual with the college degree makes 10%, 20%, 30%, and even more money. Even if the person without the college degree were just as qualified, having the degree makes a huge difference. In addition to starting salary, the degree would also be beneficial for future raises.
Of course, going to college to earn a degree also creates a sense of pride and accomplishment that cannot be compared to anything else. Knowing that you went through four years of college only to come out on the other size with a degree in hand creates a true sense of self. With this, you will find that you have a much higher level of self-confidence, which transfers into the things you do and the decisions you make throughout life.
The bottom line is that while college on any level and for any area of study is expensive, in the long-run it would pay off. As you begin searching for the ideal career, potential employers would actually take you far more serious. Remember, whether looking for a blue or white collar job, or even having an Associate’s degree or Master’s degree, any money spent would be an excellent investment. The thing with college is that you have to look long-term. Although you may enjoy things immediately, often the greater rewards are those a year or two after graduating. The answer to the question of whether earning a college degree is worth the cost, yes, it is.