Is College Worth Breaking the Bank?


Ah, college. The final step in higher education. What once was a luxury is now a must in order to get a successful career. The price of college tuition has increased every year, but the jobs that are made available still pay the same salary as the year before. According to the National Center For Education Statistics, the average cost of college tuition per year has gone up by around $1,000 per year. The amount that you pay for college seems insignificant to the amount that you will be able to earn with that sweet college degree. While most think high-paying jobs would provide an easy way to wipe away their debt in just a few years,  it would actually take them much longer than they thought. In articles by CNBC, The Balance, and Us News, a person may spend on average 21 years of their life trying to pay off student loans. So while college may seem like an easy way to get into the middle class, it can lead to a nightmare of debt if not properly managed.  There are positives in getting a college degree though.

I found that earning a college degree is a must in America and it is absolutely worth the time and effort that is put into obtaining a degree.  With a degree you will have an easier time getting a job and getting a high paying job. Projections from Georgetown University show that by 2020 65% of jobs with only be available to people with a bachelor’s degree or higher, making a degree even more vital in obtaining a job you want.

While the degree itself is worth it, the price of admission is way too high for something that would give you access to the majority of jobs available in the market.  Other countries such as Canada charge far less in yearly tuition than American schools.  It is outrageous that something that is regarded as essential to becoming successful can cost students over a hundred thousand dollars, meanwhile other countries have enough sense to at least cap the amount of money students can be charged for college like the U.K.

While college tuition prices are high there are some ways that the United States could help reduce the cost of college and further peoples education.  One way would be to add a tuition cap like the U.K did in order to assure that prices are affordable even at the most prestigious schools. Another option would be for the government to pay for college tuition, but in return the people would have to pay higher taxes to the government.  I think that this could help reduce the financial burden on college students.  

I think that college is extremely important and that everyone should be able to get a higher education.  A college degree is for learning and getting a high paying jobs, it’s only downside is its cost, so in order to try to lessen your future financial burdens it is highly recommended for you to try to get scholarships.  At the end of the day college is worth it, if you don’t mind the high price tag attached to it.