All student debt myths really boil down to one underlying question--"Is College Really Worth It?" As sticker prices for degrees soar and the job market grows more competitive, it's natural to wonder if a degree will pay off. A Pew Research Center Report and U.S. Bureau of Labor Statistics data provide some insight. On average, income increases as higher levels of education are attained. Additionally, unemployment levels have an inverse correlation with education--as the level of education increases the average unemployment rate decreases. It isn't difficult to find individual cases that don't align with the statistics, but by and large, a college degree is a sound investment.
If the statistics largely validate the decision to seek a college degree, why is there so much dispute about the issue? I believe this debate stems from unclear expectations about higher education compounded by the growing cost of college. Some see college as a time for personal growth; others think college should focus on professional development. Schools vastly differ in their costs, opportunities, and the strength of various programs. We have every flavor and assortment of higher education in America, but you can leave school dissatisfied and in a lot of debt if your choice in college didn't align with your expectations for your higher education.
Education creates opportunities in life. Nearly two years ago, I wrote that an education is an asterisk--one of the "terms and conditions"--for achieving life dreams. Educated people have created the world we live in today. They have been founders, creators, inventors, leaders, and explorers. However, I don't think there's one educational pipeline we should send all students down. Some of the greats were the product of the best colleges and universities in the world while others were autodidacts. College is worth it. Advancing your education is worth it. But, each college's offering won't be "worth it" to every potential student.
by: Paige Witthar
