Is College Worth the Investment? Part 1

Last month, we did some myth busting on why an Ivy League education is rarely worth the cost. But what about college in general? With all of the buzz in the media and on the campaign trail about rising tuition costs and unemployment among Millennials, you may be wondering whether college is worth the investment at all.

Our short answer? Yes.

Why College is Worth the Investment

So what’s behind our answer? Here are two reasons why college is worth the investment, even in light of high tuition and job uncertainty.

1. It really does mean better job opportunities. For every entrepreneur who dropped out of college, and for every 20-something who is still living at home and working as a waiter, there are many more college graduates working in fields that they love and receiving higher salaries than their non-college-educated counterparts. If you want a job that pays benefits and has a good salary (defined by Georgetown’s Center on Education and the Workforce as a median household income of $53,000 or more), you need a college degree in the vast majority of cases.
2. What is the alternative? Though the benefits of a college degree have remained somewhat flat over time, the cost of NOT having one has actually grown. The gap between what a high school graduate and college graduate can earn has grown dramatically over the past half century.

Think Beyond the Monetary Investment

Maybe “investment” isn’t the only way to think about the question. That is, the benefits of college cannot be measured only in monetary gain. What about quality of life? College graduates are more likely to be able to pursue their passions and get paid for it. So whether or not that equals a high salary and lack of student loan debt, it often means greater happiness.

Along the same lines, the experience of college itself is a once-in-a-lifetime opportunity. When else will you get to spend four years living with friends in a beautiful environment and studying topics that interest you? Though of course it isn’t for everyone, most people say that the college experience is one of the best of their lives.

Though we certainly come down on the side of going to college, there are things you should do to ensure that the investment is a good one. We’ll discuss those next week, so stay tuned!

Our college planning process can help you make a well-informed decision about which school is the right fit. Contact us at info@eliteacademics.com or 720-216-2222 to learn more.