The Students Go to College is a Good Choice - Essay Example

During the 20th century, most Americans considered college the right path to penetrating into the middle and even the high class. College was seen as a permit to a decent salary, high living standards, and proper career advancement. This same notion is still being held in the 21st century: that gives the reason why so many parents struggle to see their children through college. Often, most students begin to question the significance of college education when still in high school. This question always offers the same answer: as years advance, attending college seems to be offering graduates widespread opportunities that are not widespread to individuals who never received higher education. Additionally, for most American students, the fact that they can generate income immediately after their graduation is always a pleasing thought. Despite that, students may be discouraged by the ever rising tuition costs: college education is among the greatest expenses one can ever face. Furthermore, recent coverage depicts the existence of huge student debts, with a possibility of low wages. This creates the question as to whether it is still worth attending college or not. Statistics imply that in the recent years the loan debts held by students seem to top the debt lists. The number is so massive that the only manageable way to look at the debt is to consider every debt per every borrower. Researchers, for instance, denote some horror stories concerning graduates who have loan debts of over $100,000 yet the wages they earn is approximately three times less the debt (Wilson). Only a few borrowers owe approximately more than $100,000. However, it is important for one to note that the debt number also comprises students graduating medical or professional schools: both medical and professional schools are often well-known for higher student debt’s level, higher salary payoffs, and job security (Wilson). Generally, one significant fact is that the average debt held by a student per a borrower seems to be increasing at a fast pace. As years progress the loan debt increases thereby bringing the question as to whether higher education is worth more the increase every year. This may perhaps not be indefinitely; however, currently the best answer is yes. Throughout the recession period, for instance, an elevation in the student loans given out was predictable. Since most families had less money at hand, they could not afford taking their children to colleges. Unfortunately, it was at this time that most colleges took a hit as well. With several endowments suffering, the capability to offer financial aid got crippled, but fortunately that ended. One aspect that seems to be elevating the debt problem for college graduates is the ever increasing number of for-profit colleges. Despite this, for-profits tend to offer an opportunity at higher learning institutions for students who may not have been able to get a degree (Carey). In contrast, they appear to be voracious debt mills that support a corporate outcome over the success of students. Often for-profit colleges are expensive. The tuition charges in ​ for-profit colleges may averagely double the tuition charges in the non-profit colleges. The main reason why for-profit colleges charge a higher amount of fee is because their main aim is to make profit: in other words, they are entities whose mission maximizing own proceeds (Carey). These colleges offer a high price tag which means that a great probability of high borrowing levels exists. In these colleges nearly all students have student loans, which most of them borrowing an average debt of approximately $40,000 contrary to the $20,000 by those in non-profit colleges (Wilson). These high costs normally skyrocket for students whose graduations have been delayed. Compared to students in public colleges, students in the for-profit colleges have a greater probability of taking more years to clear their debt. Another fact is that graduates from for-profits struggle a lot to get employment (Carey). In most cases applicants whose resumes have for-profits credentials rarely get called back by their potential employers unlike graduates who have degrees from non-profit colleges. Additionally, in case the for-profit graduate gets the job, they are likely to be paid lesser wages than their peers from non-profit institutions. The situations is even far much worse since even graduates from cheaper community colleges prove to be more competitive than them. Generally, most employees see no value in graduates with for-profit credentials despite the for-profit credentials being more expensive that most credentials from other colleges. For-profit colleges also have higher rates of loan defaulters than most colleges. Students in for-profits have a higher probability of defaulting loan payments compared to students in other colleges (Carey). This level of defaulting is as a result of a combination of difficulty in finding employment and huge loan balances. In other words, the impact of not being able to get employment after graduation affects their ability to pay the loans. Further, despite the unfortunate debt statistics, students in for-profit programs largely depend on their own efforts in order for them to succeed. Therefore, it would be important for one to approach the for-profit programs as a confident and sensible consumer. Before selecting a for-profit college one must ensure that they ​ understand which colleges provide which courses and at what prices: one may consider comparing the costs of various colleges through using the net price calculators normally found online. They also need to ensure that they discover ways through which they can vet the online for-profit colleges. In addition, it is important for one to always take caution particularly when conversing with a representative of a for-profit college. This can help in noting whether they are offering some sense in the price set for a certain course or whether whatever they are saying does not imply the expected answer. Moreover, one must not rush into signing up just because the representative tells them the chances are filling up: in some cases they say this when in actuality the class is almost empty. There exists a great range of for-profit colleges, just like other non-profit colleges so it is upon the student to select the one that will ensure they graduate at the right time and have a manageable debt to pay. In general, it is of significance for individuals to gain a little perspective regarding the costs incurred in higher education: collage education is somehow costly. The costs cannot be met by most individuals or families, but so are several other things like mortgages, medical costs or cars. College education can be considered a onetime cost (there exists no need to replace or repair it) which creates a range of personal and occupational opportunities for an individual’s entire lifetime. It may be true that some colleges are more worthwhile than others, and some may force an individual to incur more expenses than others, or offer less financial help than others, however, with higher education, that is not a structural problem. One significant reason for attending college is that it offers more opportunity. Unlike the past generations, today high school graduates cannot easily obtain the high-paying jobs that used to be available to them. The US’ economy has undergone a transformation from being manufacturing-based to that of information and knowledge. The significance of college education today can therefore be compared to the significance held by high school education some four decades ago. College education acts as a doorway to more opportunity and better options. College education also has additional benefits. For instance, when students have the experience of a post-high school education, they get the opportunity of reading books and listening to lecturers who are top professionals in their career fields. This inspiration encourages most students to ask questions, explore new ideas, and think; hence it results to additional academic growth thereby providing the graduates the opportunity to be competitive in the job market. The significance of a higher education is also heightened because such level of education increases the chances of one gaining valuable resources during their tenure. Attending college makes ones acquire more connections during their college career; therefore they tend to have more option when they begin searching for jobs. Additionally, once someone has managed to get a job and begun their career, the significance of higher education is not yet exhausted. The college degree still offers them greater opportunity for promotion (Wilson). Generally, the reason why someone should attend college does not start or end with the aspect of getting a job. Advanced education is valuable from various diverse perspectives, and while the significance of a higher education is rather obvious for most students in high school, what is frequently not as apparent is how they manage the payment for that education. Certainly, those individuals who are still not sure about the significance of attending a college should not the significance of the amount and kinds of opportunities that college graduates have. As years progress, so does the global economy, and the more the progress in the global economy the greater the level of competition. Therefore, if an individual desires to give themselves a perfect opportunity for an employment with good payment, they must ensure that they first understand the significance of college education (Carey). Colleges, for instance the for-profit colleges, may have a financial disadvantages or a graduate, but it is important to acknowledge the significance of the knowledge and experience that attending college offers. The knowledge and experience that colleges provide cannot be received through a high school education alone. Additionally, finding ways to pay for a college education in the current economy can be a big pay off in the future, despite the loans debts. Anyway, the reality of this matter is that college when compared to the past is far much worthwhile in the modern American society like it has never been before. It is a reality that college education may be of the most significant expenses one can incur in life, but its importance is quite obvious with regards to high wage earning potential in the current economy. Work Cited Carey, Kevin. Why Do You Think Theyre Called For-Profit Colleges? The Chronicle of Higher Education. 25Th July May 2010. Web. 15Th April 2015. Wilson, Robin. A Lifetime of Student Debt? Not Likely. The Chronicle of Higher Education. 22nd May 2009. Web. 15Th April 2015. Read More