By: Evette Champion
We live in a world where you cannot get a good job without a college degree—and even still there are many employers who ask that you have a degree and experience, making it nearly impossible for new grads to get a job using that degree they are now thousands in debt for. So… You have to wonder if it is really worth it?
USA Today College revealed information about research conducted by Goldman Sachs and in it, it said that in 2010, graduates would be able to expect a return on their investment (their college education) within 8 years. That isn’t so bad right? However, that number has increased to nine years. The research suggests that if the trend was to continue this way, if a student starts school in 2030 without any scholarships or grants, they may not even see a return until they are 37 years old.
Dr. Boyce Watkins goes one step further to say that millennials would never see a return. He says that millennials under the age of 35 are the first group of Americans in history to be expected to die and still have insurmountable debt.
With that said, Time Money published an article where many college graduates were polled and they shared that they believe their education was worth the price. According to that poll, it revealed that recent grads who took out more than $50,000 in student loans doubted if it worth the investment.
Oh, and if you think that a BA is going to cut it, you’d be wrong. According to a 2014 study that is widely cited, “Having a B.A. is less about obtaining access to high-paying managerial and technology jobs and more about beating out less-educated workers for the barista and clerical job.”
Mary Kate Baumann, a student who graduated from a private college in New York in 2010, and then graduated from the University of Missouri in 2015 shared with USA Today College, “My undergraduate education was over $200,000 in total and my first job paid only $28,000. That’s a large disparity.”
And that is. Many students experience this. And when you are trying to justify the costs, people look at the bigger picture—meaning they value the experiences that college gives you.
“I think it’s worth it to grow as a person, and there are so many other experiences that college teaches you,” said Vanderbilt University senior Chris Wolk, “Involvement outside of class and learning how to balance your life and live independently is worth the cost of college.”
Wake Forest University senior McKenzie Ziegler agreed. “College is extremely expensive,” she said, “but there is no price tag in terms of the conversations you hold and the community you make.”
I don’t know about them, but the experience and “conversations” will not pay my bills and keep a roof over my head. What do you think, Reel Community? If you went to college, was you degree worth it?