It’s no secret that college tuition costs have skyrocketed in just a couple of decades. This means many young people are taking on crippling amounts of debt before they even begin their working lives. Furthermore, unlike other types of debt, student loan debt cannot be dismissed through bankruptcy. If everyone who went to college graduated with a high-paying job, this might not be a problem, but is this the case?
Another trend is that more and more employers are requiring a bachelor’s degree as a basic qualification. This is the case even for some jobs that do not necessarily require the skills that would be obtained with a college education. The result is that sometimes people feel they must attend college when they are not necessarily well-suited to academic study. Many people who would excel in trade schools or other environments may struggle in a classroom environment. There is a belief among many people that a college education is the route to a better salary and a better life, but this may not always be the case. For example, skilled work done by electricians and plumbers may pay very well. Furthermore, some college graduates go on to work at jobs where they would not have needed a degree in the first place. Underemployment and being overqualified for many types of work is a problem for some graduates particularly when the economy is poor.
There are a number of factors that need to be weighed in a decision to attend college. The equation is definitely not as simple as a college degree equaling a better job. Does the person have an aptitude for academic work, or would they be happier working hands-on, outdoors or in some other capacity? What is the person considering studying? Are there jobs in that field, and if not, will the studies make it possible to work in a different field? Finally, how will projected earnings measure up against student debt? It’s great to look at figures showing how much more money a bachelor’s or advanced degree can earn a person, but it’s important to look at the debt load carried as well.
Source: Affordable Online Colleges