Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Benefits OF education
Benefits OF education
Effects of rising tuition
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Benefits OF education
Furthering one’s education beyond high school level should be a benefit rather than a burden. Many people believe it is the key to social mobility and an opportunity to become successful. However, with the increasing tuition of institution of higher education, students find it rather hard to decide whether continuing their education is beneficial. Most people will agree that furthering your educational career is beneficial, whether it is to move up to a higher class or just nurturing the minds. The increasing cost of attending a university has become a burden to students after graduation due to the amount of debt accumulated while studying at one of these further education colleges. This is not only a problem in the United States, but also in many other countries such as, Great Britain and Japan (Sheehy). There should be a way for students to attend school without worrying about the debts. Many legislatives have come up with theories to fix the student debt crisis; however there are still many students in debt.
There are many benefits of having a degree from an institution of higher education. Many people believe that college is the key to opportunities and social mobility. “The earnings of college graduates are much higher than for nongraduates and this is especially true among people born into low income families.” (Greenstone, Looney, Patashnik, and Yu). Based on the chart provided, it shows that college graduates have a higher chance of achieving a higher status than those that do not have a degree. It is an economical investment and many low income families are putting together what little they have to put their kids through college. These families are correct on the idea that education can get them further in l...
... middle of paper ...
...duates’ Debt Burden Grew, Yet Again, in 2010.” The New York Times. 02 Nov. 2013. Web. 11 Nov. 2013.
---. “U.S. to Contact Borrowers With New Options for Repaying Student Loans.” The New York Times. 24 Sept. 2013. Web. 11 Nov. 2013.
Lowrey, Annie. “Student Debt Slows Growth as Young Spend Less.” The New York Times. 10 May 2013. Web. 11 Nov. 2013.
Perez-Pena, Richard. “Benefits of College Degree in Recession Are Outlined.” The New York Times. 09 Jan. 2013. Web. 11 Nov. 2013.
Sheehy, Kelsey. “Undergrads Around the World Face Student Loan Debt.” US News. 13 Nov. 2013. Web. 16 Nov. 2013.
Touryalai, Halah. “College Costs Slows Down, But Aid Falls And Average Student’s Debt Hits $27K.” Forbes. 23 Oct. 2013. Web. 13 Nov. 2013.
Waldron, Travis. “State Higher Education Funding Has Dropped 10 Percent Since The Great Recession.” Think Progress. 23 Jan. 2013. Web. 11 Nov. 2013.
“The Good, the Bad and the Ugly of Student Loans” references many great points that recent college graduates or futures college graduates should follow. These include paying student loans fully and on time, as well as consideration of refinancing. The article’s main purpose is to help college graduates prepare to pay off their student loans carefully and correctly. It chooses to focus on the good points of paying off student loans, giving hope to those who may be worried about paying them off.
The experience college can give is remarkable. College is a valuable experience because individuals who attend will have a lower chance of being unemployed, will be in better health, and paying off debts will be possible! Unemployment is on the rise, always trying to be avoided. By obtaining a degree, the chance of being out of work is reduced. Baum, Ma, & Payea (2013) claim, “The 2012 unemployment rates for 25- to 34-year-olds were 9.6% for those with some college but no degree and 7.2% for those with associate degrees” (p.20).
"Debate on Student Loan Debt Doesn 't Go Far Enough." Applebaum, Robert. Hill (2012). Print.
...hew , and Debbie Cochrane. "Student Debt and the Class of 2012." Institute For College Access and Success. December (2013 ): n. page. Web. 12 Dec. 2013.
Smith, Craig. “Student Debt State Policies Leave Families with Few Good Options.” Education Digest 79.7 (2014): 42. MasterFILE Premier. Web. 15 Apr. 2014.
An education is one of the most important tools a person can acquire. It gives them the skills and abilities to obtain a job, earn a wage, and then use that wage to better their lives and the lives of their loved ones. However, due to the seemingly exponential increase in the costs of obtaining a college degree, students are either being driven away entirely from earning a degree or taking out student loans which cripple their financial prospects well after graduation. Without question, the increasing national student loan debt is one of the most pressing economic issues the United States is dealing with, as students who are debt ridden are not able to consume and invest in the economy. Therefore, many politicians and students are calling on the government to forgive their student loan debts so that through their spending the slowly recovering economy can finally return to its pre-2008 strength.
The debt associated with higher education is one of the biggest factors of deterrence for most people who are interested in college, and it is not at all surprising. 71 % of college seniors who graduated last year had student loan debt, and the average debt for a college student with a four-year degree is $29,400.This number has gone up an average of 6 % each year. Keep in mind that this is just the average debt, and there are students who are in debt upwards of $30,000 dollars (projectonstudentdebt.org). Now in order to understand why the debt is so high it is best to break down the different costs of higher education. The first and most important of which is tuition.
Lankford, Ronald D. "Chapters 2 and 3." The Rising Cost of College. Detroit: Greenhaven, 2009. N. pag. Print.
Children of the twenty first century spend nearly 13 years in school, preparing for what is college, one of the only ways to achieve the so-called “American Dream”. College is the best way to start an advanced career and go further than one possibly could if college degrees were not available, allowing people to achieve their view of the American Dream; whether it be large houses, shiny cars, multiple kids, or financial comfort, college is the stepping stone to achieve the American Dream. But all great things come with a price, college dragging along debt. Students who attend college struggle to find ways to pay for it, leading to applying for student loans. These loans a great short term, paying for the schooling at the moment but eventually the money adds up
In that year, the number of college graduates was only 432,058 (Sourmaidis) and ever since the demand continually increased as did price. This trend allowed for the student loan crisis to occur, which is a problem we face today. As of 2016, American students have accrued a massive 1.3 trillion in student loan debt. Just 10 years ago, the nation’s balance was only $447 billion (Clements). This ever-present cumulative burden has caused many post graduate Americans to delay important life events such as marriage, homeownership and children because of this substantial encumbrance (Clements).
McArdle, Megan. "Is College A Lousy Investment?". The Daily Beast, 2012. Web. 16 November 2013.
One of the many reasons why getting a college education is worth it is because there are more job opportunities. Most job now a days don't just require a high school diploma. A lot of employers are looking for people with degrees because they have more knowledge and will get the job done right. Between December 2007 and January 2010, jobs that required some one with a college degree grew by 187,000. Georgetown University calculated that by 2018 nearly 63% of jobs will require at least some college education. Finding a decent job is tough now a days, but having a college degree or at least some college education will make it a little easier. A degree may not necessarily guarantee a good high paying job, but the chances are a lot better with one (procon.org).
“New Data Confirm Troubling Student Loan Default Problems.” Project on Student Debt: Home. N.p., n.d. Web. 29 Oct. 2013. .
Through my research I hope to explore the consequences of education debt on college graduates’ lives, including career choices, consumption pattern and lifestyle choices. Meanwhile, I want to discuss some feasible alternatives to minimize student loan debt. My intended audience will be the American college students and their families. The other audience I want to reach is those education policymakers. The contribution of this research will be to help students better understanding the consequences of indebtedness and making informed and careful decisions on paying for college. Also, it will raise the awareness of education policymakers, prompting them to improve our existing student loan policy. As a college student, how to finance a higher education is closely related to my personal life. Through the research I hope that I can acquire enough information on the pros and cons of student loan, and other options to minimize the student loan debt, so that I can make careful decision on financing my college education.
College allows the student to choose their own path in life and not just take any job they can get. For instance, I have always wanted to teach and I like the added perk of having the summers off. Obtaining a degree will ensure that you earn your maximum earning potential. On average a person that has their Bachelor degree earns about $15,000 a year more than high school graduates, while associate degree holders make about $7,000 a year more (Graff, They say / I say: the moves that matter in academic writing, 2014, pp. 208-225). However, over time the gap significantly widens to almost $50,000 a year, in favor of the college degree holder. Some might would argue that not all degrees are equal with some paying significantly less. I agree that the type of degree one receives directly impacts their salary, but the benefits of obtaining a degree are still valuable. In an article written by Terry Caron, his researched showed that unemployment rates significantly decreased the more education an individual received (Caron, "College Graduates vs. Non - College Graduates: Unemployment Statistics.")As Freeman Hrabowski mentions, “College graduates are much more likely to be employed than those with only a high school diploma and earn substantially higher salaries” (Graff, They say / I say: the moves that matter in academic writing, 2014, pp. 259-263).