Is a College Education Worth the Money?

Whether or not a college degree is worth the time and resources invested in obtaining it has long been a contentious issue. Arguments advanced by two scholars seem to vary in their views about whether higher education is really worth the money. Marty Nemko wrote “We Send So Many Students to Study,” and David Leonhardt wrote, “Is College Worth It?” New data state unequivocally.” This paper examines all cases and determines which one is more convincing than the other.

According to Nemko, so many students are sent to college. He supports this argument by stating that the U.S Department of Education shows that students who graduate in the bottom forty percent of their high school class and went to college may not graduate at all. He further states that seventy six percent of such would not earn a diploma. Despite this, colleges continue to admit more students yearly. Nemko also argues that after spending a huge amount of money in college, such a student end up as a drop out with little practical value, a devastated self-esteem and a huge debt to pay. One ends up with no career eventually and a lifetime of McWages(low pay) from doing jobs they would have done as high school dropouts. He also states that even the fully are not assured of graduating, forty five percent of them do not graduate.

According to Nemko the advantage of college students in the marketing is eroding. This is because employers’ offshore employees for professional jobs thus leaving the college graduate to go for non-professional jobs. The more the students being sent to colleges the more the number of off shored employees by employers. He therefore argues that even the high school students who qualify for colleges do not obtain enough benefit compared to the high cost incurred in their college education and the four year period it takes for them to complete their college education. He does not support the fact that college graduates earn more than non-graduates. Nemko refers to colleges as a cost item and research as a profit centre. Colleges are businesses according to him. He says that colleges teach in the cheapest way possible and not in the best conditions where students are staffed in small classes. He supports his argument with a report from a research done in UCLA that showed a small percentage of the students (16.4%) satisfied with the instructions given to them. Apart from the dissatisfaction, he further goes ahead to show that some college students do not learn.

Leornhadt is however against the statement by Nemko that too many students are sent to college .He states that if there were more students that the economy needed, the pay gap between graduates and non- graduates would shrink. He rather states that research has shown that there is an increase in the pay gap between graduates and non-graduates. This is against the argument put forth by Nemko stating that graduates do not attain enough benefits from their college education in terms of the wages they earn as a result. Leonhardt states that college is worth more than the four year period taken to graduate. This is against what Nemko stipulates. Leonhardt further supports his arguments by proving that there is a wide disparity in wages between the graduates and non-graduates and in addition, the rising wage gap proves that there are not enough graduates being produced.

Leornhardt further argues on the importance of college education by stating that it should not be based on the cost of college education as it does not change the fact that college education is worth every effort. Leornhardt disputes many people’s claims that college education results in debts, by showing how cheaper it will be in the long run in terms of the wages a graduate earns.

A careful evaluation of both arguments by these writers’ show that although Nemko makes valid points on the cost of college education, his arguments seem biased as he only looks at the few people who have not benefited from college education. Many people have benefitted from attaining college education and in fact, not enough graduates are being produced, to meet the ever changing trends in today’s industries. As argued by Leonhardt, the growing economy and complexity of technology leads to the amount of education needed by people. Individuals will have to go a level or two higher in their education in order to keep up with the current economy and technology. As much as the argument on the worth of college education is put forth, people have no alternative but to keep up with the technological needs.

Another negative point about Nemko’s argument is on how college offer something different from what they state in their brochures and websites. He also argues that colleges must be held for producing defective products. In his case colleges should be held accountable whenever they produce such students who are the defective products as they receive billions of tax dollars. This argument fails to recognize the many college graduates who are employed in high paying jobs, due to the application of the knowledge gained to their careers. While it is true that some colleges produce graduates who are not well enlightened enough to meet the job demands, most college graduates have earned a spot in successful careers. His suggestions on how to make colleges more accountable should however be put into consideration by parents wishing to take their children to colleges.

I agree with Leonhard’s arguments that college education is indeed very important. He says that long ago high school was considered a frontier of education, but currently the ladder has grown in that one has to even go to college. This statement shows that as much as college education may not prove worth or may be undisputed as not worth by people, it really is. This is also shown by him saying that there is a wide wage gap that keeps rising proving that not enough graduates are being produced. This shows the importance or need of people with college education in the market. College education is worth the cost incurred and time taken. It only takes four years for one to get a degree which will give a job to last you a lifetime or jobs in that case. The cost incurred in getting a degree thus does not match the amount of knowledge and money one will earn in the long run. The developing world furthermore demand highly qualified and skilled people in this may go beyond college education.

While I agree that college education is worth every effort, Nemko’s suggestions on how to make colleges more productive should be put into consideration. This author advises parents to choose the best way for their children of which in his case is to go for other options rather than college education. Colleges should be more accountable since there are many colleges out there who produce graduates who lack sufficient skills for the job market.

Works cited

Leonhardt, David. Is College Worth It? Clearly, New Data Say. 2014. Web. Feb 9, 2017. ttps://www.nytimes.com/2014/05/27/upshot/is-college-worth-it-clearly-new-data-say.html

Marty, Nemko. We send too many students to college. Web. 2015. Feb 9, 2017. http://www.martynemko.com/articles/we-send-too-many-students-college_id1543