By Alusine Fullah
Given the problems of finding a job, many people are coming to doubt the value of a higher education. Would they be better off just getting into the job market after high school? Or is higher education still worthwhile?
As we age and begin to ponder what we want to do when we “grow up,” higher education soon enters into the equation. But in the 21st century, would it be ridiculous to contemplate that there is more than one path? Sentiments that college is a waste of time have slowly bubbled up into the mainstream.
Perhaps you’ve even encountered such a perspective yourself. Organizations like Praxis and Mike Rowe have long asserted that college isn’t synonymous with success. And that a good living is possible without the burden of time and money that college requires.
Since you I started writing this article, I know you must be a college student. That means you have already thought about the question, is higher education a good investment? What is more, you have answered the question with a YES. So it may seem pointless to raise this question.
On the other hand, many people have started to doubt the value of higher education. Some students wonder whether the sacrifices they make for an education are really worth, especially when they hear the numbers of unemployed and underemployed graduates. Taxpayers also seem to have doubts about the value of higher education, as it cost more and more. They are much less willing to invest large amounts of public money in schools than they were a generation ago. And employers are often heard to complain about the quality of graduates on the job.
So it is time for another look at this question. Is higher education still a good investment, compared with other ways you could spend your time (example gaining job experience/ skills)? To answer it, I will do more than rely on personal experience.
People who believe that college is not worth they argue that student loan debt is excessively high, preventing graduates from saving for retirement, purchasing a home, or marrying. They claim that many successful people did not attend college and that many jobs, particularly in the trades, do not require a college diploma.
In purely financial terms, today’s college/ university education returns a lower (percentage) profit on the money invested than it did a generation ago. With more competition for fewer jobs, today’s new graduate can expect more unemployment, more part-time work, a lower starting salary and lower lifetime income than graduates in 80s and early 90s. As it stands, graduates in this 21st century has no guarantee of job, income, or job security.
It is evident that many students may be wasting their money with a university education. Though enrolment in universities and four-year colleges/ universities has increased, the dropout rate has also increased. Of all those enrol, more than half will not complete a degree.
