It used to be that a college degree was a virtual guarantee of a good career. The common path was to work hard in college, graduate with good grades, score well on the ACT and SAT, and attend a reputed four-year university. Students that followed this path were, overall, well-prepared to enter the job market and start making a living.
Why Does Attending College Involve an Opportunity Cost?
A high school graduation is a significant milestone in many lives, and it often coincides with a young person beginning the final transition into adulthood. In the past, what that meant differed for many people. Today, however, the predominant path involves immediate entrance into college. Many high school students spend their senior years in a chaotic rush of college and scholarship applications, after all. Despite the growing real cost of studying in a university, attendance rates continue to increase. The explanation often goes that earning a degree ostensibly makes one more valuable as an employee, so the tuition, fees, and other associated costs are a justifiable expense.
[Read more…]Is the Cost of College Too High?
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.
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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