Is a Bachelor’s Degree Worth the Cost?
Apr 30th, 2008
© jenn_jenn
Ask just about any high school counselor and you'll be told that earning a bachelor's degree is always worth it. However, sometimes students get themselves in over their heads – spending too much time, effort, and money on a degree that won't get them as far as they imagine. A recent Chronicle opinion piece by Marty Nemko gives us a much needed reality check:
"…Even those high-school students who are fully qualified to attend college are increasingly unlikely to derive enough benefit to justify the often six-figure cost and four to six years (or more) it takes to graduate. Research suggests that more than 40 percent of freshmen at four-year institutions do not graduate in six years. Colleges trumpet the statistic that, over their lifetimes, college graduates earn more than nongraduates, but that's terribly misleading. You could lock the collegebound in a closet for four years, and they'd still go on to earn more than the pool of non-collegebound – they're brighter, more motivated, and have better family connections.Also, the past advantage of college graduates in the job market is eroding. Ever more students attend college at the same time as ever more employers are automating and sending offshore ever more professional jobs, and hiring part-time workers. Many college graduates are forced to take some very nonprofessional positions, such as driving a truck or tending bar"
Does this mean you should skip college and go straight into the workforce? Of course not. However, I do believe that students should thoroughly consider their options before applying to college. Enrolling in the most expensive online school and earning a BA in the humanities may land you $100,000 in debt with a $29,000 a year job. Attending college can be an extremely worthwhile experience, but it's wise to fully consider the costs.
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