Check in with a high school senior early in the school year, and you’ll find many of them doing two things: fretting about college decisions, and worrying over scholarship applications. Many students receive heavy encouragement to apply for as many scholarships as possible — why is that? The reality is that rising tuition and material costs associated with college continue to increase the financial hurdles facing students. The conventional wisdom, though, is that a college degree is worth the effort and the cash. Is that true? Do the end results justify the current price tags, or is the cost of college too high when compared with its potential benefits? A careful look at the facts shows that circumstances profoundly influence the answer.
What Is the Opportunity Cost of Attending College?
Understanding even basic economic principles can be tricky, and understanding opportunity cost is no different. Most of the explanations found online aren’t that helpful because they are often overly complicated. And if you’re like most people, you need a clear understanding of your options and how they stack up against each other – and you don’t have a ton of time to spend grappling with what should be a relatively simple concept.
[Read more…]How Much Does Four Years of College Cost?
Over the years, college has evolved from a choice made by some to an expectation for nearly everyone. At high school graduations, schools will even read off information about the colleges that students are planning to attend. Going to college has become the societal norm, to the point where it is almost strange, unwise, and often even unacceptable to decide against higher education.
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