Health - Government Regulation vs. Personal Responsibility

 Is Higher Education Worth the Price?

By Denver Lo and Emma Hanlon

            The path to success has always been to obtain a degree for a high paying career. It is embedded in the American culture that a degree is necessary for a good career, that is it the only path for success. Higher education is a good investment, investing in your education allows for a brighter future. In recent decades, we have seen an increase in tuition costs. There is a student debt crisis with students unable to repay their debts. This ongoing issue has many questions about if the investment in higher education worth the price.

            Students must weigh the cost and return, if higher education is really beneficial to one’s career. The evolution of the job market has created many alternatives that does not require a degree. The burden of these alternative educations are often have less financial burden with just as rewarding outcome. Tuition at an all-time high, online education, job training, certification, or job experience are seen as a great alternative. Many recruiter are accepting alternative education as a source of accreditation.

Tuition has seen an increase across the board; private national, out-of-state national, and in-state national cost has respectively increased by 136%, 112%, and 133% (not adjusted for inflation), and 41%, 32%, and 45% (adjusted for inflation) according to the US News publication. On average 8 of 10 students take out education loans, which may take up to 20 years for repayment. 10% of borrowers default on their debt payments affecting their financial stability and credit.

College priorities have seen turbulence, funds from tuition are inputted into research, prestige, and other profitable ventures. The price of tuition are not utilized to improve educational material, college courses are using outdated material. New research and discoveries have revolutionized our understanding of the world, yet the education taught are generations behind. Education is regulated as state policies control what education infrastructure is required, this and the lack of educators motivation causes educational material to be held back.

There are many benefits from receiving higher education, generally individuals that hold a bachelor’s degree see an increase of income compared to their high school education counterpart and the opportunities that colleges provide are beneficial. Network, internships, recruitment, and other events are readily available to students. These entry tickets are exclusive to certain schools. Connection with alumni offers a gateway to corporations and other programs serve as an entry point for students.

Understand that all degree programs are not equal. The modernization of society has seen more reliance on STEM majors compared to the Liberal Arts. There are skills that are offered in the liberal arts degree that are wanted by companies, a majority corporation are seeking individuals that are educated by STEM programs. Additionally, there has been a necessity for blue collar workers; electricians, plumbers, heavy equipment operators, pilots, and etc. Blue collar jobs has seen improvement in income with most individuals making six-figures.

Higher education remains as a major pathway to most Americans, it is embedded in the culture. It remains as a symbol for success, but with rising cost of tuition, is it worth the price? If college isn’t the right path for you there are alternatives: employment, military service, trade or technical school, apprenticeship, certification programs, and online education. You must weigh the cost of investment in education against the return on that investment. Is higher education really worth the price?