Is College Worth It? Some estimates place a four-year college degree at the cost of $200K or more and a 2-year degree at nearly $100K. This begs the answer to the question, “Is it worth the cost and the investment of time required? Of course, the answer depends on your field of study and the reasons that you are choosing to pursue this additional education. It also depends on whether or not you have the drive to make a successful career in something that does not require a college degree.
Entrepreneurial fields tend to be better served through mentorship than college. That is not to say that college is not beneficial, but it may be less necessary. As it were, there seem to be more instances now where college is proving to cost more in time, money, and energy than it is worth. In fact, it is creating incredible Debts that are impacting the lives of multiple generations of families financially.
Is College Worth it Compared to Learning a Trade?
One of the things that everyone is noticing is the fact that the cost of education is going up! When I was growing up, I heard people say, “Learn a trade, and you will never have to go without.” I know that there are a lot of variations for that saying, but they are all similar. It means that you will always be able to make a living with the skills you learned. The truth is, as time has progressed, the areas in which skilled expertise is more of an asset than a college education have increased.
You can go to college for many years and gain book knowledge, but nothing is as beneficial as real-world application and hands-on learning. I have learned that there are a whole lot of areas that you can apply this to. Trades do not usually require a college education but are usually more valuable in today’s society.
Is College Worth It?
A recent assessment of the American College scene found some disturbing results.
- Students who attended a Four-Year Institution reported a program completion rate of only 78%. With only 76% paid more than a High School graduate. Even after five years of employment and steady payments on their school loans, they still owed 90% of the principal of their loans.
- Students who attended a Two-Year Institution reported a program completion rate of only 42%. With only 59% paid more than a High School graduate. Even after five years of employment and steady payments on their school loans, they still owed 102% of the principal of their loans.
- Students who attended a Four-Year Institution reported a program completion rate of only 54%. With only 48% paid more than a High School graduate. Even after five years of employment and steady payments on their school loans, they still owed 97% of the principal of their loans.
This information is available on the web at: https://www.thirdway.org/report/the-state-of-american-higher-education-outcomes-in-2023