Do the advantages of college still outweigh the disadvantages?

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Though several people have questioned whether schooling is a good investment, studies have shown that the gains outweigh the costs. In terms of financial gains, varying types of schooling yield different results. Despite the high number of college-educated jobs, the unemployment rate remains low as graduates fail to find work. The effort involved in repaying school loan loans, as well as the increasing cost of education, contribute to confusion about the value of a college education. Many people will say that schooling is not a good investment if the return on investment remains at 15%. (Jaison and Deitz). Nevertheless, students with less education struggle more especially in the past decade.

Research shows that disparities in the area of specialization when pursuing a degree have an effect on the return on investment (Jaison and Deitz). Those pursuing technical courses like math, science, engineering, and computers tend to earn high returns on their education investment. On the contrary, students majoring in fields like leisure, hospitality, agriculture, and liberal arts have tended to fare worse in the job market. Although the benefits of education outweigh the cost, not all college degrees are correspondingly good investments. One must take time to select a course that is marketable in the modern error as it will guarantee more returns.

According to Jaison and Deitz Possessing, a college degree can be an added advantage to earn an extra wage. Some abilities such as aptitudes and skills a difference between those who went to college as opposed to those who did not attend college. More to that, a college degree comes at a cost nevertheless beneficial in the long-run. These costs consist of direct costs such as tuition, room and board, and opportunity cost, which embodies the value that one must give up to attend college (Krugman and Wells 250). Other expenses include the direct cost of college fee. With tuition fee rising and wages declining, the value of a college degree may seem in doubt. However, these aspects alone do not define the benefit of a college degree. It is a wise economic decision for an average person to invest in college education.

The article argues that college education is still a better investment with a higher return than any other investment an average person can make. College education outweighs all the costs incurred in pursuit of education (Jaison and Deitz). Conversely, the level of return on investing in education differs depending on the degree of teaching. A high school student will earn less return than a bachelor's degree graduate will. Likewise, a postgraduate will make more return than a bachelor's degree holder will. However, before investing in any education program, one should weigh the cost and benefits of their undertaking before implementing the decision. More so, it emphasizes the importance of college education being a better investment in life than any other investment. Reductions in the number of jobs for workers who lack a college education face a challenge of reduced wages (Krugman and Wells 251). Employees and students should strive to have a higher level of education to increase their chances of higher wages and profitability from the college education. However, the future about the cost-effectiveness of teaching is unclear, but so far, it is an ideal way of investing.

The article is relevant to the content learned in class such as one weighing the benefits and costs of undertaking any event before embarking on it. People should be rational when making decisions and avoid rushing on any idea. By being rational, a person can make the most profitable decision. Opportunity cost should form the basis of decision-making. The explicit cost and the implicit cost should be critically considered before making a decision (Krugman and Wells 252). Although the decision to undertake an educational investment seems highly doubtable, a student should make a decision based on what adds more value to his/her life in the long-run rather than what seems natural to do. This saves for the future, and more value is realized in the long-run. Making a decision to go through college education is very important since it gives one a chance to become a useful member of the society. The skills earned are relevant in ensuring a reliable income to the graduate.

I strongly agree with the author that the benefits of college still outweigh the costs. As long as one can secure a good job, the costs recovered from the wages earned can be recovered. More so, the return rate from education surpasses the current return from bonds and securities in the market. The likelihood of one to secure a job having a college degree is also high as compared to employees who lack education. A college degree is therefore more profitable to invest in since one can easily secure a job and start benefiting from education. Hence, a college degree remains a profitable venture as the benefits outweigh the costs.

_x000c_Work cited

Jaison R Abel and Richard Deitz . _x0093_Do the Benefit of College Still out Weight the cost?_x0094_2003. https://www.newyorkfed.org/medialibrary/media/research/current_issues/ci20-3.pdf.

Krugman Paul and Robin Wells. Decision Making by Individuals and Firms. CourseSmart E-Book for Economics: A PDF-style E-Book. Palgrave Macmillan, 2012. ISBN1464167613, 9781464167614.

November 23, 2022
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Sociology Life

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People Investment Problems

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