Is a College Education Worth It?: The Pros and Cons

IT'S DISCUSSION TIME!

The American debate over whether a college education really worth it started in 1636 when English colonists founded "New College." (now is Harvard) People who argue that college is worth it say that a college education provides many benefits, such as a higher employment rate, bigger salary, and more work benefits. Some people on the opposing side say that the debt for college loans is too high and delays graduates from saving for retirement (I mean, they're not even thirty!), buying a house, or getting married. With 20.2 million US students in college in 2015 and an average debt at $28,000, the debate continues today.

The Pros
One thing that benefits almost all degree recipients is that they have a higher salary than people with a high school diploma. As of 2016, the average income for people 25 years old and older with a high school diploma was $35,615, while the income for those with a bachelor's degree was $65,482, and $92,525 for those with advanced degrees. Also, more jobs nowadays have a requirement of college degrees. During the recession between Dec. 2007 and Jan. 2010, jobs requiring college degrees grew by 187,000, while jobs requiring some college or an associate's degree fell by 1.75 million and jobs requiring a high school degree or less fell by 5.6 million. In 2018, it is estimated that about 63% of jobs will obligate some college education or a degree. Young adults also learn interpersonal skills in college. Students have the opportunity to interact with other students and faculty, to join student organizations and clubs, and to take part in discussions and debates. College graduates have lower poverty rates. The 2008 poverty rate for bachelor's degree holders was 4%, compared to a 12% poverty rate for high school graduates. College graduates are more productive as members of society. Henry Bienan, Ph. D, President Emeritus of Northwestern University, argues that a college education results in "greater productivity, lower crime, better health, [and] better citizenship for more educated people." College exposes students to diverse people and ideas. Students live, go to classes, and socialize with other students from around the world and learn from professors with a variety of expertise. The community of people on a college campus means students are likely to make diverse friends and business connections. And also, I think that earning a college degree is a major life achievement.

The Cons
Student loan debt is crippling for college graduates. As of June 2016, about 42 million Americans owed $1.3 trillion in student debt, and 45% of people with student loan debt said college was not worth it. 10% of students graduate with over $40,000 in debt and about 1% have $100,000 in debt. Student loan debt often forces college graduates to live with their parents and delay marriage, financial independence, and other adult milestones. Many college graduates are employed in jobs that do not require college degrees. According to the Department of Labor, as of 2008, 17 million college graduates were in positions that did not require a college education. 1 in 3 college graduates had a job that required a high school diploma or less in 2012. More than 16,000 parking lot attendants, 83,000 bartenders, 115,000 janitors and 15% of taxi drivers have bachelor's degrees. Many recent college graduates are un- or underemployed. The unemployment rate for recent college graduates was 8.8% in Feb. 2013, down from 10.4% in 2010, but up from 5.7% in 2007.  The underemployment (insufficient work) rate for college graduates in 2015 was 6.2% overall. Many people succeed without college degrees. The following successful people either never enrolled in college or never completed their college degrees: Richard Branson, founder and chairman of the Virgin Group; Charles Culpepper, owner and CEO of Coca Cola; Ellen Degeneres, comedian and actress; Michael Dell, founder of Dell, Inc.; Walt Disney, Disney Corporation founder; Bill Gates, Microsoft founder; Steve Jobs, co-founder of Apple; Wolfgang Puck, chef and restaurateur; Steve Wozniak, co-founder of Apple; Mark Zuckerberg, founder of Facebook. Learning a trade profession is a better option than college for many young adults. Trade professions are necessary for society to function, require less than four years of training, and often pay above average wages.   

My Opinion
My opinion is definitely to choose college and universities if you have the ambition of achieving a professional career, or, alternatively, trade school, to learn other types of careers needing supplementary training. Please write what you think about this article in the comments below!