With the cost of college rising every year, students are faced with the dilemma of choosing quality education and obtaining a lifetime of debt. Students are starting to question if a college degree is really worth the cost of paying for that degree over their entire adulthood.
Another important factor in the discussion about the affordability of education is that the unemployment is so high in today’s economy-that many college graduates cannot get a job. It’s much harder to pay back student loan debt, when one has no income to do so. Many college graduates are forced to work part time jobs, which barely cover living expenses, much less student loan payments.
But there is still much research that indicates that there is a definite gap between college and high school graduate earning levels. College graduates make about $17,000 more than those with only a high school degree. There are not as many high paying jobs available in today’s workforce, which do not require a college degree. High school graduates are left with service, retail and blue-collar jobs that usually do not pay as much as business, healthcare, law or education jobs of college graduates.
Most high school graduates will simply not have as many opportunities to make a high salary with the jobs that are available to them. Even working as an executive assistant or secretary can require a college degree in today’s economy. It’s clear that obtaining a college degree increases one chances of becoming a higher income earner and finding a career that will bring about future advancement and raises.
Young adults also have the option of attending trade schools or earning a two year degree. These options may be cheaper for students who have chosen career field or whom cannot afford a four year degree. Students will have significantly less debt, but often can make a higher income than high school graduates with no further education.