In today’s society, many students will go on to receive a higher education after high school, but is the cost of having a higher education worth it? In 2017 the average college graduate accumulated more than 34,000 dollars in student debt (Dickler). ADD. Student loan debt creates early financial difficulties for young adults, leading to many mental and physical issues from stress and overall hurts the economy. With the weight of student debt on a person’s shoulder, they are less likely to be financially successful in the future.
This article explains the factors of college being worth the money in the end. The authors explain that not everybody is made for college or some people just can’t afford it. Studies show that middle class high school students that attend college after graduation make significantly more money than students that do not attend. They keep expressing the word “education” as if it is the number one necessity in everyone’s life. Everyone wants to go to college, but most of the time, people cannot afford it.
The rate of people graduating is going down because college is too expensive for many families in the U.S, and CBS News claims, “the US now has 30 million jobs for less-educated workers” Everyone has a passion for something. This thing may be a hobby like baking, woodwork, or art. Many kids think they cannot make this a reality, but this is a possibility. College doesn’t ensure that your passion that you may have had for a very long time will become a reality. College is an opportunity that may or may not work in your favor.
Jobs would fail because the people applying can’t get accepted without a college degree. According to The New York Times “once students enroll in college, dropping out is the worst decision they can make”. Entering in a low paying job, drop outs must slowly pay back student loans, which is why college Is so important to stick to and graduate. College is important because after graduating or even if you drop out your stuck with a massive amount of student loans; having a college degree can insure that you get a good paying job so that you can pay your loan(s) off sooner than later. College graduates aged 25 to 32 who are working full time earn about $17,500 more annually than their peers who have only a high School diploma, according to the Pew Research Center.
The increasing rate in which students are dropping out of college is alarming, because it will affect our society in the long term, as the students of today are the employees of tomorrow. Governments need to address this issue, because everyone’s future lies in the hands of teenagers. They need to find a solution to the increased prices in colleges relative to people’s earnings. Years ago, attending college may have been only for the people who were well off, but today having a bachelors degree holds the same value as a high school certificate did years ago. Teenagers’ aswell need to understand that attaining a bachelor’s degree is key for getting a well-paid job later on.
Each year thousands of workers complain that they are not getting paid enough. They want to be able to afford things other than the basic necessities. What they do not know is that if the minimum wage were to be raised, they would be a lot more likely to make even less money- 0$ an hour. The minimum wage has been debated for years. Some say that raising the minimum wage will lift people out of poverty and provide a higher standard of living for everyone.
Deflation Deflation has become entrenched since the late 1990s has a harmful effect on the economy. Consumers put off spending on some goods and services as they think that goods will become cheaper and businesses was discouraged from investing. This lead to falling wages put additional downward pressure and consumer spending. Another harmful effect of deflation is that it may increases real debt burdens. This is particular relevant for Japan, which has extremely large amount of public sector debt.
The first major issue with the current state of college tuition is that it is just too expensive for a large portion of the american population. According to David Leonhardt in his article titled “The Assault on Colleges - and the American Dreams,” the average college student isn’t fresh out of college “The typical college student is also not fresh out of high school. A quarter of undergraduates are older than 25, and about the same number are single parents. These students work extremely hard to make ends meet and simultaneously get the education they need to be more stable: A two-year degree can earn students nearly 20 percent more annually than just a high school diploma,” (Leonhardt). This quote shows that students
For starters, one major cause for dropping out of college is financial circumstances. Many students depend on their parents to pay their fees, and thus sometimes there is an obligation for students to drop out due to limited financial resources. Students whose parents don’t have enough money to pay tend to seek alternative resources like scholarships and financial aids. However, when none of these resources are available, students are obligated to drop out from college. Also, students from such underprivileged families face difficulties since they are concerned with college fees, in addition to the financial responsibility they have towards their parents or families.
A college degree is now the minimum ticket to get in the door to any white-collar job. Now you have to compete with large numbers of applicants for fewer number of jobs. Likewise, the value of the high school diploma has dropped. There is a big gap between an annual earning and unemployment rate of college graduates and high school graduates. High school graduates are doing even worse financially.