College worth it? Professional vs. cons (2023)

FAQs

Is college worth the money pros and cons? ›

According to the Bureau of Labor Statistics, graduates with a bachelor's degree or higher had median usual weekly earnings of $1,556 when working full-time, compared to just $866 for high school graduates with no college studies. In this way, a college degree can almost double your earning potential.

According to data published by the Federal Reserve Bank of New York, the wage premium for early-career college graduates was 52%, or $17,680. The unemployment rate for college grads was also far lower in the first quarter of 2023 at 2.1% versus 6.9% for young workers without a college degree.

College graduates get higher-quality jobs

Among full-time workers, college graduates are more likely to have jobs that offer paid vacation, health insurance, retirement, and flexible work arrangements. These forms of non-wage compensation help provide greater financial stability and security over the long run.

That being said, you can certainly be successful without a college degree — your skills and talents can get you hired. Find out exactly what skills are needed for your career path and work hard to excel in them. You will have to be determined, self-disciplined, and goal-oriented.

Dropping out of college can tank your career prospects. Adults without a college degree earn about $30,000 less per year than college graduates. In 2018, the unemployment rate for high school graduates who dropped out of college was 18.6%. Many students enroll in college to get higher-paying jobs.

Stanford University

1995–1995

Queen's University

1989–1991

University of Pretoria

Does college give you a better life? ›

In fact, college graduates live an average of seven years longer than their less-educated peers. College-educated adults tend to live happier lives. confidence, a better sense of independence, and stronger feelings of control over their lives. ⌘ College graduates tend to be more resilient and less depressed.

The overall college enrollment rate of 18- to 24-year-olds (ages in which students traditionally enroll in college) was 38 percent in 2021. In this indicator, college enrollment rate is defined as the percentage of 18- to 24-year-olds enrolled as undergraduate or graduate students in 2- or 4-year institutions.

Everyone's college experience is different. Many people including myself have found the third year to be the most difficult. This is the year in which you will start to take classes that are specifically for your major. The classes for your major tend to be more challenging than core classes.

A college degree opens up more opportunities, even in fields that aren't in your major. Improve Discipline and Develop Strong Character. Obtaining a degree takes discipline and a will to succeed. By getting your degree, you overcome procrastination and learn to do what it takes to reach your goal.

Is 25 Too Late to Start College? The age of 25 is not too late to start college, as it is never too late to start college. Many of the most successful college students are older learners and working professionals. Oftentimes, these older college students bring several advantages to the classroom.

Are you ready to discover your college program? Why is college so expensive? There are a lot of reasons — growing demand, rising financial aid, lower state funding, the exploding cost of administrators, bloated student amenities packages.

Financial stress makes everything else harder.

Study after study show similar results. Worries about money lead to ongoing stress, anxiety and even depression; they crowd out the brain's ability to focus on longer-term achievements; they even lead to higher-risk decision-making with potentially disastrous consequences.

College students commonly experience stress because of increased responsibilities, a lack of good time management, changes in eating and sleeping habits, and not taking enough breaks for self-care. Transitioning to college can be a source of stress for most first-year students.

Eighty-eight percent of millionaires graduated from college, compared to 38% of the general population.

What percentage of college graduates are successful? ›

Report Highlights: In 2019, those who've obtained their bachelor's degree or higher had an employment rate of 87% for both genders, 91% for males, and 83% for females.

Students aged between 24-29 are most likely to drop out of four-year colleges, as 52.5% of them have already left without a degree (What to Become, 2021). Only 30% of these dropouts re-enroll in college to finish their degree (EDI, 2021).

While financial issues are probably the most common reason for dropping out of college, every student has their own reasons. Some unfortunately have family issues, a lack of support, or unexpected medical problems that are beyond their control.

Based on these numbers, the college dropout success rate is only at around 6%. There is no guarantee of financial success if one chooses to leave school and pursue an interest that could possibly be translated into a scalable business.

Economics / Finance

It's probably no surprise to hear that studying Economics or finance can help to fast track you towards being a millionaire. But it's not quite as easy as simply studying how to make your fortune, with economics in particular often seen as more theoretical and behind the scenes.

There are about 9,600 so-called centimillionaires living in the U.S., or people whose net worth is greater than $100 million, the report noted. About 35% of them attended one of eight U.S. universities: Harvard, MIT, Stanford, the University of Pennsylvania, Columbia, Yale, Cornell and Princeton, the analysis found.

FAQs (Frequently Asked Questions) When did Elon Musk take an IQ test? The Tesla CEO is estimated to have an IQ score of around 155.

Did Jeff Bezos go to college? ›

Princeton University

Jeff Bezos / College (1982–1986)

Princeton University is a private Ivy League research university in Princeton, New Jersey. Founded in 1746 in Elizabeth as the College of New Jersey, Princeton is the fourth-oldest institution of higher education in the United States and one of the nine colonial colleges chartered before the American Revolution.

Wikipedia

The reason? He believed the internet had more potential to impact the world than his research in physics. He wanted to capitalize on the internet boom and so he did, going on to launch his first company, Zip2, and selling it for over $300 million four years later.

College Degree = Increased Self-Satisfaction:

A study done by CollegeBoard found that four-year college graduates reported the highest levels of satisfaction in their job, when compared to others with less academic experience.

Depending on your age, income level, and job status, education can have both a negative and positive effect on your happiness. There are certain patterns to this, but your own values play an important role: the more you value education, the bigger effect it will have on your happiness.

Only 61% of students are satisfied with their social life, and just 59% say they feel connected to peers at their institution.

Roughly one-fifth of recent graduates, 21%, are working in jobs, either full or part-time, that aren't related to their major area of study.

The college enrollment rate of Asians (85.9 percent) also continued to be higher than the rates for recent Black (61.2 percent), White (61.0 percent), and Hispanic (58.6 percent) graduates. These data are from the Current Population Survey.

Junior year is generally considered the most stressful year of college, based on coursework and financial strain. However, freshmen experience unique types of stress. For example, 69% of freshmen students suffer from homesickness.

What is the longest break in college? ›

Summer vacation

In the northern hemisphere, the longest break in the educational calendar is in the middle of the year, during the northern summer, and lasts up to 14 weeks.

Investing in college has historically yielded significant benefits, including greater career opportunities, higher earning potential and a better quality of life for millions of Americans. The data has also reinforced the value of a college education, both financially and otherwise.

Yes, college is the transitionary time between your K-12 schooling and your exit from an academic setting for the first time in your life. You have more freedom than you've ever had before, and more responsibility, without (many of the) bills and work schedules and other consequences of being a full-time adult.

Is college worth it? College grads generally earn more and have better employment opportunities than non-graduates. And for many students, college is an opportunity to gain financial literacy, begin networking and broaden their horizons. The investment is worthwhile for many.

A college in the U.S.A. is not a high school or secondary school. College and university programs begin in the thirteenth year of school when a student is 17 or 18 years old or older.

No. 20 is not too old to start college. At any college, there will be plenty of freshmen who are 18, sure—but you'll also find people in their 20s, 30s, 40s, 50s, (you get the point). When you go to college, you'll quickly find that the student body wasn't nearly as uniform age-wise as it was in high school.

Some schools allow prior dropouts to return to school without reapplying. If you'd like to continue your education at a college or university you previously attended, make sure to check with their admissions office to determine their requirements.

Bachelor's degree holders generally earn 75% more than those with just a high school diploma, according to “The College Payoff,” a report from the Georgetown University Center on Education and the Workforce — and the higher the level of educational attainment, the larger the payoff.

The data has also reinforced the value of a college education, both financially and otherwise. The Economic Data Initiative reveals that the return on investment of a bachelor's degree over a 20-year period has been 38.1%, with a lifetime ROI of 287.7%.

What are the pros and cons of going to a community college? ›

communities that have more well-educated residents have fewer incidences of depression and suicide. stimulating occupations and lifestyles, and overall greater happiness in life.

More Educated Population:

If more people could afford college, more people would probably attend. This leads to a more educated population. It has been shown that a more educated public results in higher political participation.

Each year, 30 to 40 percent of all undergraduate students take federal student loans; 70 percent of students who receive a bachelor's degree have education debt by the time they graduate.

As of 2022, 43.5 million Americans have federal student loans. Approximately 13% of all Americans had federal student loan debt in 2021. In 2022, 9.9 million borrowers have between $20,000-$40,000 of student loan debt.

Yes, college classes are typically harder than high school classes because the course work, topics, and depth of materials are more complex, set at a faster pace, and require more studying.

People without college educations also are less likely to vote than people with them, according to the Census Bureau; half as likely to volunteer, the College Board says; and more likely to divorce, reports the Bureau of Labor Statistics; almost half of married couples with less education split up, compared to 30 ...

Both are equal academically, but if you prefer a school with a wider choice of classes and programs, a university may be a better fit. If you prefer small-sized classes and being able to interact more with their professors, a college might be a better option.

Students can explore careers and interests, take classes in-person or online, and get to know their professors, all at an affordable cost. The opportunities offered at community colleges are endless.