The escalating cost of higher education is causing many to question the value of continuing education beyond high school.
Many wonder whether the high cost of tuition, the opportunity cost of choosing college over full-time employment, and the accumulation of thousands of dollars of debt is, in the long run, worth the investment.
These sizable differences in lifetime earnings put the costs of college study in realistic perspective.
These statistics support the contention that, though the cost of higher education is significant , given the earnings disparity that exists between those who earn a bachelor’s degree and those who do not, the individual rate of return on investment in higher eduction is sufficiently high to warrant the cost.
College graduates also enjoy benefits beyond increased income.
College graduates enjoy higher levels of saving, increased personal/professional mobility, improved quality of life for their offspring, better consumer decision making, and more hobbies and leisure activities.
Additionally, college attendance has been shown to decrease prejudice, enhance knowledge of world affairs and enhance social status while increasing economic and job security for those who earn bachelor’s degrees.
While it is clear that investment in a college degree, especially for those students in the lowest income brackets, is a financial burden, the long-term benefits to individuals as well as to society at large, appear to far outweigh the costs.