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