Is College Education Worth The Debt?
College is seen as a path to the middle class and further. It provides a ticket to having a decent paycheck, better standards of living and career advancements. The cost of attending college makes one wonder whether college is worth it or not. The cost is coupled with widespread unemployment among some college graduates, especially during the recession. The college debt that accumulated does not make life easier for any of the unemployed graduates, making one wonder if the college education was a wise investment or not. In my view, college is worth the debt.
The overall salary for a college graduates is higher than those who only have high school diplomas. According to The Economist, college graduates, aged 25-32, earn $17,500 more than their peers who have high school diplomas in a year. The gap in wage is enough for the college graduate to pay back the loan and still live better than the high school graduate. More and more jobs require their staff to have college degrees. For example, during the recession, 2007-2010, the number of jobs that required college degrees increased by 187,000 in the USA (College-education.procon.org). It is thus more beneficial for someone to take the student loan during college since the college degree will increase the chance of getting employment.
College education is worth the debt. According to Anthony Carnervale, a research professor, the value of college degree adds up “The truth of it is that college is still worth it. It's just that most people can't afford it” (White). As we have seen, people with a college degree are much better than their peers who lack the degree; their salary is higher, and are more attractive to the job market compared to their peers who only have high school diplomas. It thus makes more sense to accumulate the debt while in college because the returns are higher when one graduates.
Works cited
College-education.procon.org, 'College Education - Procon.Org'. N.p., 2015. Web. 25 Oct. 2015.
White, Gillian. 'College Is Worth It, Even With Loans'. The Atlantic. N.p., 2015. Web. 26 Oct. 2015.
The Economist, 'Is College Worth It?’ N.p., 2014. Web. 25 Oct. …
