Why is College Education Important
The importance of college education is sometimes called into question for many reasons. According to CNBC, more than one in five college graduates work in jobs that don’t require a degree. Statistics like this make people wonder if it’s worth spending years of their lives going into debt only to land a job they could have gotten without a degree.
While there are of course cases where people don’t use their college degree, the research still suggests that overall, earning a college degree is beneficial. A paper titled “Do the Benefits of College Still Outweigh the Costs?” revealed that the benefits do, in fact, outweigh the costs. The authors of the academic paper found the following:
“An analysis of the economic returns to college since the 1970s demonstrates that the benefits of both a bachelor’s degree and an associate’s degree still tend to outweigh the costs, with both degrees earning a return of about 15 percent over the past decade. The return has remained high in spite of rising tuition and falling earnings because the wages of those without a college degree have also been falling, keeping the college wage premium near an all-time high while reducing the opportunity cost of going to school.”
There is also no denying that a large majority of very important jobs require higher education. Everybody would agree they wouldn’t want their surgeon or their child’s teacher to walk onto the job straight out of high school.
The college experience shouldn’t be downplayed, either. Whether it’s to have that buffer zone between being a kid and an adult or to have time to study abroad and have shared experiences before entering the “real world,” many people who have gone to college say the college experience is one of the many things that makes college worthwhile.
A report titled “It’s Not Just the Money: The Benefits of College Education to Individuals and to Society” from the University of Maine echoes this sentiment, noting that the monetary benefit of college is often the most cited because it’s objective and easy to measure. Subjective benefits like the college experience are hard to study because they can mean different things to different people. The report cites a multitude of benefits college graduates see, including higher likelihood of having health insurance, higher likelihood of having a retirement plan, higher likelihood of good health, lower likelihood of being in prison or jail, higher voting turnout, higher self-reportings of happiness, and higher community involvement. Many of these statistics are the result of correlations, meaning there is a connection between college and the benefits, but that doesn’t mean that attending college causes these benefits. Nonetheless, there is no denying that college can and does have a positive impact on many people.
0 Comments