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?
Yes, college education is worth it
University education opens career doors, provides higher-paid jobs and offers intangible benefits that improve a graduate's quality of life.
Over a lifetime, college education makes financial sense
College-educated workers have much higher lifetime earnings than their non-college educated peers.
University opens career doors for graduates. A person having any form of tertiary education has higher chances to find a job than someone without. This is also reflected by a lower unemployment rate of graduates.
Whether college is worth it depends on available financial assistance
Different governments and financial providers offer different financial assistance and loan terms. These affect how much a student pays out of pocket for their university education and therefore, impacts the return on investment.
Student debt is financially and mentally draining. With both the number of those who owe student loan debt and the average debt increasing, many young adults and recent college graduates face multiple financial concerns.