Value of a College Education

As tuition costs continue to rise to levels higher than ever before, many are asking, is a college education worth the financial investment? What exactly is the value of a college education? The answers to these questions lie in the economic, societal, and personal benefits that a college education enables. The financial burden of debts and lost potential wages carried by many who choose to pursue post-secondary studies is certainly present. However, evidence indicates that the long-term benefits of completing college far outweigh the costs, and these benefits extend past the individual to their families and society at large.

College education is an investment that will never depreciate. Once attained, a college degree will enable individual to earn more in the long run. In fact, the rate of return on investment in higher education is substantial enough to warrant the financial burden often associated with the pursuit of a college degree. On the whole, college graduates earn more than those with only a high school diploma. According to the National Center for Education Statistics, the median annual in come in 2000 of male high school graduates working full-time and year round was $34,303 and $24,970 for female-full-time workers. However, the average incomes in 2000 for males with a bachelor degree were $56,334 and $40,415 for females (2003). This demonstrates the drastic disparity in earnings between individuals with college educations and those with only high school diplomas. Those with high school diplomas face extreme hardship when trying to obtain a solid career. Their rate of pay is significantly lower. Their stress levels are higher because they have to work twice as hard as someone who has attained a college education.