While for many high school students, college is a given, others may wonder if spending four or more years in college is really necessary for their future. Let’s take a look at the pros and cons of a college education.
College degrees open doors to opportunities that are closed for those without higher education. The absence of a degree often limits how far you can rise in a company; those individuals with only high school diplomas are often trapped in less stimulating careers. So when considering if you should continue your education, think about it as an investment in your future as well as your entrée to a more interesting professional life.
Now let’s talk about money. Numerous studies have shown that college graduates earn higher salaries. How much higher? According to a Census Bureau study, the answer is a lot higher. Over a typical career lifetime (ages 25-64), a high school graduate can expect to earn about $1.2 million. Having an Associate’s degree from a two-year college will raise that to about $1.6 million, while staying in college for an additional two years and earning a Bachelor’s degree will yield a gain of another half million dollars, for a total of $2.1 million. That’s nearly double what a high school grad might earn! Not a bad return for your investment in time and tuition.
Earning a graduate or professional degree results in still higher levels of earnings. Individuals with Master’s degrees average $2.5 million over a lifetime of working, while professional degree holders such as doctors and lawyers average $4.4 million. Of course, type of degree matters – computer careers pay more than teaching or social service jobs.
Although these issues are important, attending college should provide you with more than just money or increased professional opportunities. Learning at college takes place both in the classroom and outside it. Interacting with people from diverse backgrounds better prepares you to deal with the world of your future. You’ll learn to respect and value cultural differences. Living in a dorm or an apartment while in college will teach you to manage money and time, and take on personal responsibility. By joining clubs and community service organizations, you’ll derive the satisfaction of giving back to others. A broad liberal arts education will teach you not just facts but also how to learn. Armed with this knowledge, you’ll be prepared not only for a job today, but for your changing future careers.
