Thousands of people end up enrolling in college after they graduate from high school. Most of them want to further their education so they can make something out of themselves. It is a common idea among many, that college will end up increasing one’s average income. In the article, The College Payoff Illusion, by Edwin S. Rubenstein, he wrote that “In 1997, college graduates earned an average of $40,508 versus just $23,970 for non-college graduates”. The statistic shows that graduates are making more but does it have more to do with their college degree or their personality? The question proposed in the above paragraph is hard to answer because no one really knows. These college graduates could have traits about them that the non-graduates
In his article “ Is College a Sucker Bet? ” Dave Maney (2013) is concerned that colleges value is lowering due to our era being “ A world of internet-enabled ”. The cost of college is still rising, but is it truly worth paying for due to internet savvy users decreasing the value and advantages that a college educated graduate would usually have. It then start to say that those with college degrees usually make higher incomes, but whenever the topic is brought up it is always met with an argument, but today it still is proven that those with college degrees earn more money. “ Just because statistics show that those with a degree earn more than those without doesn’t mean the acquisition of a college degree causes the difference”. That just means there is a connection.
They go on to say, "While the average return to obtaining a college degree is clearly positive, we emphasize that it is not universally so. For certain schools, majors, occupations, and individuals, college may not be a smart investment." (page. 209 Para. 1). This applies more to older students rather than students who are fresh out of high school. One of the main reasons the return rate is greater is because most of these students who are already working need more education in order to further themselves in their workplace. The authors also add that "The main problem is one of selection: if the smartest, most motivated people are both more likely to go to college and more likely to be financially successful, then the observed difference in earning 's by years of education doesn 't measure the true effect of college." (Page 209, Para #2). This means students who do not take advantage of all that college has to offer are not really getting the full experience. Why not invest in four years and come out with the opportunity to make more money? Some students want to go ahead and get school out of the way. Furthering education accumulates lots of debt. Some student 's choose not to overwhelm themselves with those costly decisions; they want to get right to work. Owens and Sawhill provided enough information on how logical it is to attend
While college may be initially uneconomical, evidence from a 1959 census shows a “three-fourths of earning difference” between those who graduated from college and those who merely received a high school diploma (Weisbrod et al 495). Weisbrod and Karpoff acknowledge the high cost of college in America, but assert the benefits of a college degree will more than reimburse a person in the long run, therefore the initial cost of attending a college is worthwhile. (Weisbrod et. al). Furthermore, this indicates only “one-fourth of the earnings differences are attributed...to non-schooling factors”, which proves the significant role college plays in determining the future earnings of an individual (Weisbrod et. al 497). College appears to be the most influential factor in regards to a person's earnings, therefore according to Weisbrod and Karpoff, college is necessary for a person who wishes to obtain a higher expected income. Even students who attend mediocre to below-average colleges will receive “a lifetime income that is [around] 10 percent lower ...than that which someone at one of the best schools can expect” (Weisbrod et. al 497). Weisbrod and Karpoff contend even low-tier colleges result in higher earnings, therefore a student should strive to attend any college regardless of the
that college puts a financial limitation on many families stating “As important as education is in
With a college education, one of the benefits college graduates earn is more money. College graduates have a much higher earning potential than individuals with no college education. A college education could actually earn you a million dollars over your lifetime. In the article it states, “On average, college graduates earn 1.5 time that of adults with high-school diplomas” (Andreas Schleicher). This demonstrates that by earning a college degree, you will earn a lot more money than people who stop their education at high school. As a college graduate, you earn far more over your working lifetime than non-college graduates. The more education you get, the more likely it is for you to always have a job. There are numerous other benefits associated with graduating from college. The benefits of going to college her in the U.S. are valuable than other countries. As a college student, the effects of a college degree will likely affect you and future generations. In the article it states, “While a degree is still a good investment in other countries, nowhere are the benefits quite as good as in the U.S” (Andreas Schleicher). This demonstrates that here in the U.S., there are plenty of benefits of having a college degree. With a college degree, you will have a higher lifetime earnings, you will have
"College graduates earn more than one million dollars more than high school graduates over their lifetimes." Every teenager has been bombarded with this much-cited statistic in the hope that it will convince him or her to intend a university after high school. But, is it actually the university education that leads to the inequity in salaries between college and high school graduates? Superficial reasoning would suggest yes. It is obvious that the additional education increases the college graduate's human capital and maybe this does lead to greater productivity and higher wages. However, this only seems probable if you ignore what universities actually teach. The majority of what is taught at universities will be of no use to their graduates in their future careers. If the purpose of a college education was to increase relevant work-related skills they would look more like vocational schools where students would specialize in particular skills relevant for their future careers, rather than studying small amounts of every subject. Instead, to a large extent, the purpose of college is to act as a costly signaling mechanism to assist employers in screening employees. A college education is more about showing off than acquiring useful job skills. However, this showing off comes at an enormous price. We waste billions of dollars per year on this showing off, not to mention the four years of someone's life. These tremendous social costs require us to rethink hiring practices and how universities serve their students.
Today, due to state budget cuts, federal changes in student loans, unemployment, and reduced college endowments, economic issues weigh heavily on the minds of students. Cost, financial aid, and employment opportunities are the top factors in influencing students’ enrollment decisions for all types of colleges (Noel-Levitz 4). State universities have now become, in many cases, prohibitively expensive for many families. Financial aid at formerly generous private schools has dwindled and merit scholarships have gotten smaller or disappeared completely. In fact, 31% of students who did not enroll in their first-choice school said that their main reason was that they could not afford it (Vadala and Falkowski).
Not everyone has to have a diploma to prosper. And you would be right; Steve Jobs, Mark Zuckerberg, and Stacey Ferreira are just a few of the many successful people without a college degree. Consider this, the top 1 percent of wage earners in the U.S. earn almost $500,000 per year. The odds of anyone making it to the top are low, even with a college degree, but the odds are better than those with no college education. Of those with college degrees, roughly eight in 1,000 make it into the upper field of income earners. For those without a college degree, the odds drop as low as three out of 1,000. While that may seem unrealistic, on average people with a bachelor’s degree or higher earn about $20,000 more a year than those without a
Jon Marcus, an editor for the Hechinger Report, examines how long it will take for a college student to graduate and how it affects the cost of getting a college degree, “The Reason College Cost More than You Think”. Marcus was an online writer for Time in 2014, and he mostly writes about higher education, mostly it is about college. College cost more than a person thinks because of the length that a student will graduate college; courses that a college student takes time and expenses that need to be paid
Though both the costs of education, the debt that accompanies it, and the Pay as You Earn plan created to address it come with their faults, they have various potential remedies that are accompanied by their pros and cons. When addressing cost of education in general, it would be beneficial to the student population to eliminate unnecessary fees. Rochelle Sharpe argues in her article Those Hidden College Fees that scholarships and loans generally only cover fees that are charged when aid is dispersed. As a result, fees that occur over the course of a semester hit families with various amounts to pay throughout the year. This includes wide ranges of charges such as parking pass fees, online course registration fees, freshmen orientation fees, and gradation fees.
In their article, Owen and Sawhill appeal to ethos by comparing statistics on college graduates’ income to the income of those who did not attend college. One figure Owen and Sawhill present is “research shows that 23- to 25-year-olds with bachelor’s degrees make $12,000 more than high school graduates but by age 50, the gap has grown to $46,500”(641) They
A college degree is one of the best educations that a person can get. It not only develops your mind, but it helps to develop you as a person as well. No matter what kind of degree you receive, whether it be a bachelors, associates, or masters you are more likely to get a better job than without it or with just a high school diploma. Workers with a college degree will earn much more and are much less likely to be unemployed than those with only a high school diploma. This paper will argue that with a college degree you are more likely to get a higher paying job than without a degree. I will support this argument with multiple scholarly articles and other valid sources to further convince you.
By attending college, students guarantees themselves a better job that the average Joe. Because the world is changing rapidly, and many jobs rely on new technology, more jobs require education beyond high school. With a college education, an individual will have more jobs from which to choose. In addition to obtaining a better job, people who go to college usually earn more money than those who do not. College furnishes you with proper credentials and documents to land high-level jobs. Figures from an A&E television program on ‘The Working Class’ show that in 2004 the average earnings were $23,895 for a high school graduate and $41,478 for individuals with a bachelor’s degree. Getting a college education is simply a stepping stone in ensuring yourself with a good start in life. Some may agree that college students are open minded and knows exactly how to expre...
The book Taking Sides- Educational Issues states that, “individuals who have attended college have greater work opportunities and tend to have skills that can be easily applied in different job settings”.
College graduates have more jobs to choose from. The more years of education one has completed, the more opportunities he or she will have as a potential hire. Some employers would not even consider interviewing a job seeker who has no college education, and many employer...