Is college worth it? Students, families question value of higher education mounted as well. According to U.S. News, 70 percent of graduates associate editor leave college with an average of or a majority of students, $28,400 in debt. the obvious step after high Despite the rising levels of school is college. However, student debt, numerous statistics a study conducted by the have suggested that attending Pew Research Center has caused college is indeed “worth it.” uncertainty to arise about the value The New York Times found of postsecondary education. that the mean hourly salary of The cost of college degrees has graduates of four-year colleges has skyrocketed in the last five years. generally increased since 1975. In Some states have seen tuitions contrast, the average hourly pay and fees increase by as much as 77 of those with only some college percent. education has actually dropped in The College Board reported the last decade. that for the 2013-2014 school In fact, the Economic Policy year, the average annual cost of Institute’s analysis of Labor private colleges was $30,094, Department statistics shows that while the average cost for out-ofin 2013, Americans with fourstate residents attending public year college degrees earned 98 universities was $22,203. percent more per hour than people “Quote here o iusae pedit mos without college degrees. ad quaes restesciis debis mod qui Furthermore, obtaining aut officipicita digenti sitateseque postsecondary education increases pe volupidis ad qui amenihil job security as well. ipidesequas estOs doluptum “A lot of colleges do a pretty essum, officilFerovid molo eicaes good job of placing those specific explita temporatio” students who feel strongly about As a result, student loans have their studies into careers in the
Anna Zhou
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STUDENT LOANS percent of college graduates who say paying off debt makes it harder to pay other bills
48% percent of college graduates who say paying off debt makes it harder to buy a home
24%
25%
percent of college graduates who say debt has an impact on their career choices
field later on,” Rachael Sun, ‘14, said. In 2013, the unemployment rate for young adults who did not complete high school was 29.2 percent and the unemployment rate for people with only some college education was 12.2 percent. Meanwhile, the unemployment rate for those with at least a bachelor’s degree was considerably lower at 7.0 percent. Acquiring college degrees often comes with significant amounts of debt and they do not guarantee success. However, tertiary degrees do provide greater opportunities for graduates to achieve economic success as well as mental and emotional satisfaction in the future. “If you’re really pursuing something in college that you’re passionate about, regardless of cost, I think extrinsic success comes along pretty naturally with your intrinsic happiness,” Sun said.
COLLEGE PRESIDENTS substantial minority of presidents say system of higher education is headed in wrong direction
62%
right direction
38%
wrong direction
majority of college presidents say public high school students arrive at college less prepared than their counterparts from a decade ago
6% better prepared
58% less prepared
THE COST College tuition, adjusted for inflation
Four-year private
$25,000 $20,000
THE PAYOFF
THE BIG PICTURE
Median annual earnings of 25-34 year-old full-time workers
Percent of 25-34 yearolds who have completed postsecondary education
Bachelor’s degree
S. Korea
$15,000
Two-year public
Four-year public
200001
N. Zealand
most people can afford
1990
75%
3%
don’t know
majority of people believe college was a good investment
86%
good investment
55%
74% higher education doesn’t make work much more interesting
High School or Less Source: http://pewsocialtrends.org
55% not best in the world
best in the world
majority of people believe President Obama’s goal for the U.S. to have the world’s highest share of young adults with a college degree by 2020 is unlikely to happen
% who say work is very interesting
53%
51%
college high school degree diploma or less
90% 72% 38%
19%
64%
35%
not too or at all likely to happen
very or somewhat likely to happen
% of people who say each trait is important in helping a young person succeed in the world
Graduate School
41%
42%
most college presidents don’t rate America’s education system as the best in the world
69%
percent of graduates who believe college provides them with intellectual growth
% of people who are satisfied with their education
College Graduate
Australia Belgium U.S.
2010
percent of higher education graduates who believe college prepares them for a job
PUBLIC RESPONSE
Some College
Denmark
2000
percent of graduates who believe college gives them maturity
6%
Ireland
201011
majority of people believe college has become too expensive 22%
not good investment
Norway
$20,000
High school diploma 1980
most people can’t afford
Japan
$40,000
$10,000 $5,000
199091
198081
58%
Canada
61%
Good work ethic
57%
Get along with people Works skills on job
43%
College education
42% Some percentages may not add to 100 percent because not all response categories are shown