Emily Kiser
The average college student debt is $26,000-32,000 at time of graduation. Many would say that the debt accrued is far out-weighed- by the experience and preparedness they receive. Although, one could argue that college tuition is negatively affecting our economy. The goal of the graduate is to contribute to society, which enhances the circular flow of income within our economy. The Atlantic reports that 53% of all college students in the US are unemployed or work in a job that doesn’t require a bachelor's degree. Consumer affairs states that it takes a new graduate 5-7 months to find a well paying job in their field. In the interim, the graduate is accruing more debt including interest. This could put the economy at a disadvantage. The research shows that leaders in businesses are unimpressed by the quality of students graduating.With a competitive arena of colleges, schools may be lowering their standards in order to graduate more students annually. It is also possible that college students are not being trained to transition into their new field or work place. Although, students are well educated by the time they graduate, there seems to be a lack of commitment to helping them transition into the workplace. Students are not prepared with a plan or job prior to completing their training years. This is an easy fix within the school systems. A change in the curriculum is not a cost factor and would benefit both the schools ratings and the students looking for jobs as a new graduate. Unemployment in the US is at an all time low, yet the statistics make one rethink the appeal to go to college.
Even after looking at the negative impact of going to college, there is even more evidence that college graduates are coming out ahead and impacting our economy positively . A college student may spend four or more years earning a degree, but the research shows that the opportunity cost of these students benefit from having a degree. A recent study from Georgetown determined that college graduates earn $1,000,000 more in earnings throughout their life.
Business often look for employees in the workplace with a college education for many reasons. Higher productivity, strategic and critical thinking, and problem solving skills are part of the higher education training. This benefits businesses overall. It could also bring a host of other positive benefits such as improved health and wellness, a stronger work ethic, increased voting rates and contributions to their community. College graduates are also contributing more in taxes and less reliant on government services. This improves the overall health of the economy.
“College Is More Expensive than It's Ever Been, and the 5 Reasons Why Suggest It's Only Going to Get Worse.” Google, Google, www.google.com/amp/s/amp.businessinsider.com/why-is-college-so-expensive-2018-4.
Education, Liberal. “The Economics of Higher Education.” Association of American Colleges & Universities, 30 Dec. 2014, www.aacu.org/publications-research/periodicals/economics-higher-education.
Rampell, Catherine. “Why Tuition Has Skyrocketed at State Schools.” The New York Times, The New York Times, 2 Mar. 2012, economix.blogs.nytimes.com/2012/03/02/why-tuition-has-skyrocketed-at-state-schools/.
I loved this blog post. I think about this topic often... it's so crazy to me that education is seen as a "right", yet it is too expensive for so many Americans to afford. I personally know many people who are going to local community colleges, struggling in there classes because they have to work everyday to afford it. Therefore because they are paying on their own, they are working 10 times more and do worse in their classes anyways. Also, it seems so unfair to me how there are many kids whose parents have been saving a college fund for them their whole lives, while there are parents who expect their kids to pay for their own college. Sometimes I wonder if there should be laws about this. While it may seem silly, why is it that some kids get their college paid for while others don't? And why is it that college in America is so expensive when in other countries it's awfully cheap?
ReplyDeleteThis is a painfully real outlook on most of our peer’s future. It’s incredibly frustrating to see this seemingly required thing so insanely expensive. It was very interesting to see how this affects the economy and not just the individual student, and very encouraging to see the positive effects of a college education on the students earnings. Even though it seems that college prices keep skyrocketing, the thoroughness and quality of the education seems to remain stagnant.
ReplyDeleteI loved this blog post. I think about this topic often... it's so crazy to me that education is seen as a "right", yet it is too expensive for so many Americans to afford. I personally know many people who are going to local community colleges, struggling in there classes because they have to work everyday to afford it. Therefore because they are paying on their own, they are working 10 times more and do worse in their classes anyways. Also, it seems so unfair to me how there are many kids whose parents have been saving a college fund for them their whole lives, while there are parents who expect their kids to pay for their own college. Sometimes I wonder if there should be laws about this. While it may seem silly, why is it that some kids get their college paid for while others don't? And why is it that college in America is so expensive when in other countries it's awfully cheap?
ReplyDeleteToday, more and more people are attending college than in years past. In some regards it seems that society believes that going to college is the only reasonable course to take after graduating high school. This is shown in the data as 53% of college graduates don’t have a job that requires a Bachelor’s Degree. As a solution I believe that there should be more planning for the future and careers being done in high school. If a student coming out of high school has a better plan about what they want to do, they might discover that a degree isn’t even necessary for what they want to do.
ReplyDeleteIn comparison to the other comments, I feel as if the cost of college is increasing as the number of opportunities for growth in the workplace with a college degree increases. According to PEW Research center, 91% of all graduates in their study felt that going to college was worth it. Although you stated that it is harder for new graduates to find jobs, this is not because finding jobs is difficult, it is because of the quality of jobs these new graduates are looking for. In the fact, it says a "well paying job in their field," meaning their job search is very specific, which makes the long wait make more sense. It is not that the graduates are any less prepared than before, it is that their search for the job their are looking for is much more narrow and high quality, which leads to the longer wait. But, gaining the well paying job in their field is very helping, thus these graduates are willing to pay the opportunity cost of being unemployed or working at a lower paying job for 5-7 months. Overall, I still feel as if college is very beneficial, and the opportunity cost of going to college is well worth the gain in the end.
ReplyDeleteIn the first paragraph you bring up an interesting point that many recent college graduates are having a much harder time transitioning into the workplace than years past. I'm curious of what you think has caused this change in society? Is it that many younger people are too supported by their parents at older ages, so they do not feel as financially responsible for themselves? Or could it be that these graduates cannot find jobs that interest them? Personally, I believe that it could a mixture of both of these reasons. Students are going to college and taking classes on the subjects that they want to major in, but not getting any real world experience of what it is like to actually work within that field. These students are also sometimes not as prepared as previous generations to live by themselves and become stable on their own. It is also possible that neither of these reasons is the actual cause for this problem and their is an alternate reason that has gone under the radar for quite some time.
ReplyDeleteThis is really interesting because I had never even thought about the impacts college tuition might have on the economy. In my opinion, I think college debt does more harm than good for the economy. I know of plenty of people well into their adulthood who are still trying to pay off their college experience. This debt does not help circulate money through the economy. Instead, it creates a stagnated economy where people are unable to purchase things due to large amounts of debt.
ReplyDeleteIn the second paragraph you talk about how education is positively impacting society. The earning of an educated citizen in the workplace will eventually outweigh the cost of college tuition. However, if college tuition continues to increase wouldn’t you agree that overtime the number of people going to college would decrease due to financial reasons? At that point the benefits for society, such as increased voting rates, contributions to society and an overall healthy economy would no longer be applicable.
ReplyDeleteWhile it is true that college graduates generally make more money in their lives than those with just a high school diploma, I think that all high school students who are planning to attend college should still consider the amount of debt they are willing to and able to go into. I think that as high school students, we have this misconception that every penny of that loan we take out will be easily paid back after our "stable" job which is "guaranteed" after we graduate high school. But in reality, those student loans could take decades to pay off, and that is a lot of money being repaid each month. Some adults in their 40s are still paying off their student debt. High schools should teach high schoolers to be aware of how much college really costs; and how to prevent paying off loans for decades into the future. According to the article, many college graduates work jobs that don't even require a degree. This is why high school graduates should choose wisely when choosing their majors, making sure that their degree has a high return on investment.
ReplyDeleteIn the first paragraph you stated that the average debt at graduation is roughly $26,000 - $32,000. Debt doesn’t really help the economy because it takes a long time to pay the debt off. When a person is in debt, they try to pay the debt off before they go spend the money on something else. Because they spend the money on paying off their debt, there is no money circulating through the economy. So wouldn’t that cause the economy to be at a standstill, especially if there are a ton of people still in debt. And when you’re in debt, wouldn’t there be added stress to your financial life because you may have to choose between paying off debt and paying for electric bills and other necessities in life. When you take into account the stress and debt over a major that you’re not using, college doesn't seem worth it anymore.
ReplyDeleteLooking back at the last couple of years I would say that in today's world more people are attending college. Going off of that people go to college because they think the need to bot because they want too. Even though when looking in the workforce, business do look at your college education because of higher productivity, strategic and critical thinking, and problem solving skills are part of the higher education training. Making college a need is not the way to go. There are people out there that may not have the money to go to college or their parents make them pay for it. I do agree with “Young people are getting the opportunity to receive higher pay, better benefits, and satisfying careers.” There are people that go to college not knowing what the want to do when they are older and then ending up with a job that doesn’t require the degree that they have. Making college a want will help save more money and will help in the future.
ReplyDeleteI really enjoyed reading through this post. This is a topic that I think about often because obviously as a senior and trying to figure out what to do after school ends, its difficult to determine what you want to do, especially with the costs of everything on top of it. I think that the information that was included and the amount of effort really shows. You talked about some really important things that incoming college students need to think about. However, I do believe that college isn't a thing that everyone needs to do, and it can tend to be a waste of money if the only reason that you're going is for the "experience." There are many career fields that don't require a 4 year degree, let alone a 4 year degree at a high ranked school. There are many cheaper options out there for students to look into.
ReplyDeleteI enjoyed your post. I agree that you can get a lot out of college to better your life in the future but the college tuition debt is really hurting the economy. I know many of my older cousins that have graduated college a couple years ago and still are struggling with their college debt. Honestly you really have to look at if it is really worth it. There are many jobs that do not require a college degree and that can pay pretty well. Many people just have to look at if it is really worth it because you can be successful without college and still make a substantial amount of money in your future without having to pay your debts.
ReplyDeleteThis is a very important that applies to most of us in high school right now. In society, college is seen as a crucial stage in your life which will determine what jobs you get in the future. Now, the way the system currently works with debt and other funds may have a negative impact on many people, but it is seemingly required for the nation. Just think about it, if everyone were to be able to go to college for free starting today then all colleges aren't going to have the funds to continuously get better. If college were to be free then the quality of education would go down severely. And for anyone saying that the government can pay all the colleges as opposed to students, that as well is a far stretch. Taxes would have to go up at a crazy rate and that only causes more people to get angry then before. I believe it is the responsibility of the students to pay off colleges as it is seemingly the only logical option. At one college tour I went on, it was said that at this college 68% of students graduated without any college debt. This was a school where 1/3 of students were there for engineering which is a very practical degree. Also, at all the college tours I've been at, there are ample amounts of ways to get internships and co-ops. There are ways to pay off debt, the students just have to find the effective ones.
ReplyDeleteI liked the concept of this blog. The topic gave a really good outlook on the way people are struggling after college is over. When student loans start to come in, you will need a job and I was shocked that it takes roughly 5 - 7 months to find a job after college because the money you need to pay off will hurt in the long run. However, I believe that going to college is still a good idea because like you stated in the blog businesses look for people that have had college experience and college is a overall better outlook on yourself. The current jobs the youth have are shocking to me because normally we would think since they dont have much experience in a workplace they would get minimum wage which is 7.25 but, a con to going to college is that jobs that dont require a bachelor or even college experience still pay at an incredible amount. For example, Walmart is soon going to be paying 15 an hour which is a lot if you are full time and it might not seem like a lot but at the same time you aren't paying for student loans. Overall I liked that you included that there are pros and cons to college and how college helps get better jobs.
ReplyDeleteThis is cool because I never thought about the impacts college tuition might have on the economy.I think college debt does more harm than good for the economy. There are thousands of people that are still paying of their dept many years after college. This situation is only going to hinder the economy because if people are in dept from student loans, they wont be able to purchase many products which will hinder the success of businesses that provide the products.
ReplyDeleteI really enjoyed reading this blog post, since it does not only focus on either the negatives/positives about college, but it gives both sides. The information about the impacts of the economy in the first paragraph shocked me, since I have never really thought of college debt having an impact on anyone besides the college student. Since now more people are going to college, more people acquire student debt and can negatively impact the economy. I think that employers in the future will be looking for employees that have a college degree. It might not matter if the degree fits perfectly with the job, but just that the employee went to college. Many of the characteristics mentioned in the third paragraph such as stronger work ethic, and increased health and wellness, are important in the workforce and are great qualities to have. Even if what you are learning in college might not transfer perfectly to the 'real world', I'd like to think that the benefits of going to college outweigh the debt.
ReplyDeleteI think this blog post was very relevant because many people are constantly thinking about what a college degree will do for them in life. It is crazy to think that going to school to receive a higher education is supposed to be an option and a path anyone can take, however, it seems as though many of the people attending college are the ones who can afford it or those who are willing to encounter a lot of debt. Since the cost of attending college is so high, I think this adds greatly to the unemployment rate because some do not have the money to go to school so they lack the education to obtain a good with a stable income. Businesses look for employees that are educated and qualified in the field. However, when college expenses are rising it is making it hard for a large population to obtain a degree which limits the number of people that receive the degree which makes the pool of applicants for a position smaller. I believe that having a college education does help boost the economy and the country's employment rate but I also think that if this is something that many in this country are concerned about, they should consider lowering the cost of attending college so it is more affordable for everyone and so that everyone has a chance at receiving a degree and a solid job which will also help the economy in the long run.
ReplyDeleteLooking at the first paragraph, I wonder if 53% of college students don't get a a carrier that they went to college for or even need college for. Why is there such a big push for college. Most people in the high school could find a part time job paying at least 13 dollars an hour. With these jobs you start to make money right away. Going back to the 53% why would someone go to college and then later on just go back to a position that the college wasn't needed. Save the time and the money. If someone really needs a job that badly they should go into an apprenticeship. plumbers, electrician, carpenter These jobs are paying for there students colleges.
ReplyDeleteI personally can't attach myself to this because I'm deciding to stay out of the college route but it is good to know that the pricing of college is good for the economy but perhaps there is a middle ground that should be made. Especially given that some may not follow the route that they have set for themselves by going to college. Seeing that newly graduated college students are unable to get a consistent and well paying jobs right after graduating from college.
ReplyDeleteI think that it is crazy how much debt college students graduate with and it makes me wonder when will students say "enough is enough" and stop paying absurd prices for college. There must be a point where kids stop paying for college and take different routes to real world jobs. If college prices keep rising there is no way it is worth paying the money because of all the debt students will be in.
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