Why are you in College?

Over the years, colleges have continued to be a crucial part of society. In fact, from a young age, we were taught the essence of working hard in school to attend the best colleges in the nation, as a ticket of securing a better future for our families and us. We are further taught that having a higher education means more financial freedom, better job prospects, employment satisfaction, and better investment in our future.  It is for this reason that college education continues to be an essential part of the modern education system. Although many do not believe in the essence of college education, I believe that it colleges play critical role in equipping students with the skills needed in the job market.

In their article, Should Everyone Go to College, authors Stephanie Owen and Isabel V. Sawhill argue that “the gap in annual earnings between young high school graduates and bachelor’s degree holders working full time is $15,000. What's more, the earnings premium associated with a college degree grows over a lifetime. Hamilton Project research shows that 23- to 25-year-olds with bachelor's degrees make $12,000 more than high school graduates, but by age 50, the gap has grown to $46,500” (Owen and Sawhill). This means that people who obtain a college degree earn as much as $15,000 compared to people with just high school education. It should, however, be noted that there are people who fail attend college because they struggle with the cost of college education or simply because they do not believe in the essence of a college education. The authors further argue that "The cost of college matters as well: the more someone has to pay to attend college, the lower the net benefit of the classes. Furthermore, we have to factor in the opportunity cost of college, measured as the foregone earnings a student gives up when he or she leaves or delays entering the workforce to attend school" (Owen and Sawhill). This argument means that if the cost of college tuition is too high, it might scare people away from attending college because they might have financial problems. If they attend college and fail to excel, they lose even more resources as opposed to finding a job with their high school diploma.