The ever-rising costs of a university degree, coupled with increasing numbers of unemployed graduates, has left the latest generation of students pondering over whether a college education is worth it. Do the benefits of a college degree outweigh the costs?
Whether college education is worth it dependsShow moreShow less
The value of a university education depends on several factors including the financial assistance available, the field of study and the higher educational institution.
Degrees from different higher education institutions are not all equal in value. Some institutions provide degrees that are worth the cost. Others do not.
The value of a university degree depends on the institution awarding the degree. A degree from Oxford, Cambridge, Harvard or MIT is worth the high cost of obtaining them because the best-paid jobs are often given to graduates from these universities.
On the other hand, a degree from an unimpressive higher education institution will lead to fewer employment opportunities and may not be worth the large costs. Considering roughly 16% of graduates have a debt to income rate of over 20% from their student loans alone, the costs of college are potentially crippling should they not pay off in terms of one's career.
[P1] Different universities unlock different employment and earning prospects.
[P2] Not all universities unlock enough opportunities to warrant the cost.
[P3] Therefore, the value of a university degree depends on the institution.