Murshida khanum

The significance of higher education

A college education is still worth it, as it requires qualified professionals of all kinds. With the continued increase in student loans and college costs, various writers often question whether college is still worth it, but there is plenty of evidence supporting college’s importance. In 1940, about 4.6% of students attended a four-year college. However, it was 35% in 2018. This is an example of people who recognize the importance of education over time and value it more and more. However, not all students find jobs and cannot pay their student loans. “Many graduates face huge college debt, on average close to $ 30,000, and more than 40% are underemployed in their first job,” Collier said. It raises the question of whether it is worth pursuing.

A four-year college degree plays an important role in increasing a college student’s lifetime income compared to a student who just graduated from high school. Studies show that people with a bachelor’s degree have a better standard of living than those without a bachelor’s degree. Research progress has shown 100 percent success among families with a bachelor’s degree. Anthony also shows that the salary premium for 2017 was 71 percent. This is statistically higher than in 1970, with a percentage markup of 10%. According to Collier, numerous elements impact the university graduates’ returns, together with the degree, gender, or even their circle of relative’s background.

Wealth is passed on from generation to generation. Getting a college degree early is hard to quickly get all the wealth and keep it for others later. In most low-income families, it is due to a lack of tools because processing does not allow them to adapt to the current economic situation. These families are willing to borrow but cannot grow due to reduced access to credit in most cases. Going to college is an investment decision that will pay off even if interest rates are low. If one achieves an excessive college diploma, it will offer them a small paying job. A bachelor’s diploma pays greater with approximately seventy-one to a hundred percent greater while the proper preference is made. 

            In addition, Spellings describes the rate of return on investment from earning college credits. According to a survey, the cheapest 40-year ROI option at all public universities averages $ 765,000. The total amount includes college loans and tuition payments. If someone decides to graduate from high school, they earn less than 40 percent of their final wage while working at $ 10 an hour. A college education is important in our lives, and wealth must start somewhere. College education does not guarantee wealth accumulation but rather an income premium. So, it is rewarding to help someone start big and continue working towards their dreams. Nevertheless, most employers find it challenging to find skilled workers without a college degree. Most knowledgeable people can overgrow in life and achieve a high standard of living.

To conclude, A college education is essential College education is still worth it because we need skilled professionals of all kinds. A college education is important because the economy needs every profession to make progress. To build a stable economy, we need businesses such as doctors, technicians, nurses, and pharmacists. To answer the imagination and doubts about the importance of higher education, people should be able to see the value and importance of graduates in the market. Governments need to work closely with universities to reduce the burden of student loans while providing advice on borrowing and budgeting.