Is a College Education Worth the Money?

In recent years, more and more high school graduates have been heading to college, convinced that higher education will enhance their future earning power. At the same time, the cost of a college education has been rising, and so has the amount of student-loan debt carried by college graduates. (During 2014, average tuition and fees at nonprofit private colleges rose 3.7 percent, to $31,231, while tuition for in-state students at four-year public schools went up 2.9 percent to $9,139. On average, 2015 graduates with student-loan debt owed over $35,000.) This situation has led some observers to wonder if the high cost of college actually pays off—not only in dollars but also in future job satisfaction. Will a college degree protect workers who are threatened by high unemployment, the rise of technology, the declining power of labor unions, and the trend toward outsourcing? Given the high financial cost of college, do the rewards of a college education—emotional and intellectual as well as financial—balance the sacrifices that students make in time and money? These and other questions have no easy answers.

Later in this chapter, you will be introduced to readings that highlight the pros and cons of investing in a college education, and you will be asked to write an argumentative essay in which you take a position on this controversial topic.