Throughout every American’s life the question of whether or not to go to college will come up. To most people the answer might be obvious but what are the opportunity costs of going to college? These are the opportunities you may be giving up to go to college. The costs of colleges are soaring. Even the costs of public in-state schools are getting increasingly expensive to attend. According to the National Center for Education statistics the current costs to go to a public college is $15, 640 and $40,614 to attend a private college yearly. Should you go to college despite opportunity costs? You lose a lot of time and money while you are in college but what you gain might be considered priceless.
The opportunity costs of going to college …show more content…
In addition to college being very expensive, another thing that you are giving up is time. You are giving up four years of your life while you are in college. According to the article Average Salary Without a College Degree, “In 2009, this education group earned a median annual salary of $30,000, according to the National Center for Education Statistics.” This means that while you spend 4 years in college you are potentially missing out on $120,000. Although there are negatives of college there are still plenty of positives of going. While paying colleges, in return you get a whole new set of useful skills that people without a college diploma may lack. The article Opportunity Costs …show more content…
Students must weigh the opportunity costs before making a decision. The article Student Debt Crisis 2016 explains, “Student financial aid expert Mark Kantrowitz recently calculated that student borrowers in the class of 2016 are set to have the highest level of debt yet, at $37,172, the Wall Street Journal reported this week. This is up from about $35,000 last year.” This means that student debt is at an all time high, which is a part of the opportunity cost if you decide to go to college. Although this may seem like a lot of money you have to take in account of how much more you will be making if you decide to go to college. An article from How to E-D-U says that college graduates with a bachelor’s degree make an average of a million dollars more in a lifetime and $23,000 more a year than those with no college education. An article from LA Times says, “The cost of education these days would make anyone squirm, but researchers say it’s worth it.” This shows that even though education is very expensive that it is an investment in your life that will definitely pay out in the long run. In addition to making more money, the unemployment rate of those with higher education is a lot less compared to those without. An article from the National Center for Education Statics explains, “The employment rate was higher for those with higher levels of educational attainment. For example, in 2015, the employment rate for
The opportunity costs of going to college …show more content…
In addition to college being very expensive, another thing that you are giving up is time. You are giving up four years of your life while you are in college. According to the article Average Salary Without a College Degree, “In 2009, this education group earned a median annual salary of $30,000, according to the National Center for Education Statistics.” This means that while you spend 4 years in college you are potentially missing out on $120,000. Although there are negatives of college there are still plenty of positives of going. While paying colleges, in return you get a whole new set of useful skills that people without a college diploma may lack. The article Opportunity Costs …show more content…
Students must weigh the opportunity costs before making a decision. The article Student Debt Crisis 2016 explains, “Student financial aid expert Mark Kantrowitz recently calculated that student borrowers in the class of 2016 are set to have the highest level of debt yet, at $37,172, the Wall Street Journal reported this week. This is up from about $35,000 last year.” This means that student debt is at an all time high, which is a part of the opportunity cost if you decide to go to college. Although this may seem like a lot of money you have to take in account of how much more you will be making if you decide to go to college. An article from How to E-D-U says that college graduates with a bachelor’s degree make an average of a million dollars more in a lifetime and $23,000 more a year than those with no college education. An article from LA Times says, “The cost of education these days would make anyone squirm, but researchers say it’s worth it.” This shows that even though education is very expensive that it is an investment in your life that will definitely pay out in the long run. In addition to making more money, the unemployment rate of those with higher education is a lot less compared to those without. An article from the National Center for Education Statics explains, “The employment rate was higher for those with higher levels of educational attainment. For example, in 2015, the employment rate for