The Degree is Worth the Debt

After reading the Atlantic article, "even-with-debt-college-still-pays-off" I agree that the benefits of getting a degree at college outweigh the burden of debt.

First you have to understand why college tuition has increased so rapidly.  According to the College Board, tuition and fees at public universities have increased 130 percent over that last two decades.  Many say this has been attributed from some of these factors, such as, inflation of Professors’ Salaries, Construction on campus, student amenities and accommodations, state funding cuts and technological changes.  Some argue that the main cause of tuition growth in state school has been a effect of huge state funding cuts.  States have to prioritize mandatory spending before spending on education, which falls under “discriminatory” part of the budget.

Is the degree worth the debt? Yes it is, college graduates on average have higher employment rates, larger salaries, and better interpersonal skills than someone with just a high school diploma. The demand for quality college education has increased; the modern job market puts a lot of emphasis on degrees.  People who attend college have a far better chance at finding a job and being “successful” in life.

The earnings a person receives with a bachelor's degree still trump the student debt in most cases. “When you add up the premium that college grads benefit from, which can amount to upwards of $10,000 each year, and multiply it by a career that lasts for about 45 years, the cost of a college education is well worth it.” says Carnevale.

It is good to keep in mind whether the student is going to utilized their experience and make a worth while return on his or her education.  There are some students that would end up wealthier if they learned a trade or pursued a technical degree from a community college.

For the most part if a student plans on taking advantage of higher education to find a vocation then the debt of college is worth it.