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Is College Worth It?

As economic outcomes for young adults with and without degrees have improved, americans hold mixed views on the value of college, table of contents.

  • Labor force trends and economic outcomes for young adults
  • Economic outcomes for young men
  • Economic outcomes for young women
  • Wealth trends for households headed by a young adult
  • The importance of a four-year college degree
  • Getting a high-paying job without a college degree
  • Do Americans think their education prepared them for the workplace?
  • Is college worth the cost?
  • Acknowledgments
  • The American Trends Panel survey methodology
  • Current Population Survey methodology
  • Survey of Consumer Finances methodology

is college worth it or not essay

Pew Research Center conducted this study to better understand public views on the importance of a four-year college degree. The study also explores key trends in the economic outcomes of young adults among those who have and have not completed a four-year college degree.

The analysis in this report is based on three data sources. The labor force, earnings, hours, household income and poverty characteristics come from the U.S. Census Bureau’s Annual Social and Economic Supplement of the Current Population Survey. The findings on net worth are based on the Federal Reserve’s Survey of Consumer Finances.

The data on public views on the value of a college degree was collected as part of a Center survey of 5,203 U.S. adults conducted Nov. 27 to Dec. 3, 2023. Everyone who took part in the survey is a member of Pew Research Center’s American Trends Panel (ATP), an online survey panel that is recruited through national, random sampling of residential addresses. Address-based sampling ensures that nearly all U.S. adults have a chance of selection. The survey is weighted to be representative of the U.S. adult population by gender, race, ethnicity, partisan affiliation, education and other categories. Read more about the ATP’s methodology .

Here are the questions used for this report , along with responses, and the survey’s methodology .

Young adults refers to Americans ages 25 to 34.

Noncollege adults include those who have some college education as well as those who graduated from high school but did not attend college. Adults who have not completed high school are not included in the analysis of noncollege adults. About 6% of young adults have not completed high school. Trends in some labor market outcomes for those who have not finished high school are impacted by changes in the foreign-born share of the U.S. population. The Census data used in this analysis did not collect information on nativity before 1994.

Some college includes those with an associate degree and those who attended college but did not obtain a degree.

The some college or less population refers to adults who have some college education, those with a high school diploma only and those who did not graduate high school.

A full-time, full-year worker works at least 50 weeks per year and usually 35 hours a week or more.

The labor force includes all who are employed and those who are unemployed but looking for work.

The labor force participation rate is the share of a population that is in the labor force.

Young adults living independently refers to those who are not living in the home of either of their parents.

Household income is the sum of incomes received by all members of the household ages 15 and older. Income is the sum of earnings from work, capital income such as interest and dividends, rental income, retirement income, and transfer income (such as government assistance) before payments for such things as personal income taxes, Social Security and Medicare taxes, union dues, etc. Non-cash transfers such as food stamps, health benefits, subsidized housing and energy assistance are not included. As household income is pretax, it does not include stimulus payments or tax credits for earned income and children/dependent care.

Net worth, or wealth, is the difference between the value of what a household owns (assets) and what it owes (debts).

All references to party affiliation include those who lean toward that party. Republicans include those who identify as Republicans and those who say they lean toward the Republican Party. Democrats include those who identify as Democrats and those who say they lean toward the Democratic Party.

At a time when many Americans are questioning the value of a four-year college degree, economic outcomes for young adults without a degree are improving.

Pie chart shows Only 22% of U.S. adults say the cost of college is worth it even if someone has to take out loans

After decades of falling wages, young U.S. workers (ages 25 to 34) without a bachelor’s degree have seen their earnings increase over the past 10 years. Their overall wealth has gone up too, and fewer are living in poverty today.

Things have also improved for young college graduates over this period. As a result, the gap in earnings between young adults with and without a college degree has not narrowed.

The public has mixed views on the importance of having a college degree, and many have doubts about whether the cost is worth it, according to a new Pew Research Center survey.

  • Only one-in-four U.S. adults say it’s extremely or very important to have a four-year college degree in order to get a well-paying job in today’s economy. About a third (35%) say a college degree is somewhat important, while 40% say it’s not too or not at all important.
  • Roughly half (49%) say it’s less important to have a four-year college degree today in order to get a well-paying job than it was 20 years ago; 32% say it’s more important, and 17% say it’s about as important as it was 20 years ago.
  • Only 22% say the cost of getting a four-year college degree today is worth it even if someone has to take out loans. Some 47% say the cost is worth it only if someone doesn’t have to take out loans. And 29% say the cost is not worth it.

These findings come amid rising tuition costs and mounting student debt . Views on the cost of college differ by Americans’ level of education. But even among four-year college graduates, only about a third (32%) say college is worth the cost even if someone has to take out loans – though they are more likely than those without a degree to say this.

Four-year college graduates (58%) are much more likely than those without a college degree (26%) to say their education was extremely or very useful in giving them the skills and knowledge they needed to get a well-paying job. (This finding excludes the 9% of respondents who said this question did not apply to them.)

Chart shows 4 in 10 Americans say a college degree is not too or not at all important in order to get a well-paying job

Views on the importance of college differ widely by partisanship. Republicans and Republican-leaning independents are more likely than Democrats and Democratic leaners to say:

  • It’s not too or not at all important to have a four-year college degree in order to get a well-paying job (50% of Republicans vs. 30% of Democrats)
  • A college degree is less important now than it was 20 years ago (57% vs. 43%)
  • It’s extremely or very likely someone without a four-year college degree can get a well-paying job (42% vs. 26%)

At the same time that the public is expressing doubts about the value of college, a new Center analysis of government data finds young adults without a college degree are doing better on some key measures than they have in recent years.

A narrow majority of workers ages 25 to 34 do not have a four-year college degree (54% in 2023). Earnings for these young workers mostly trended downward from the mid-1970s until roughly a decade ago.

Outcomes have been especially poor for young men without a college degree. Other research has shown that this group saw falling labor force participation and sagging earnings starting in the early 1970s , but the last decade has marked a turning point.

This analysis looks at young men and young women separately because of their different experiences in the labor force.

Trends for young men

  • Labor force participation: The share of young men without a college degree who were working or looking for work dropped steadily from 1970 until about 2014. Our new analysis suggests things have stabilized somewhat for this group over the past decade. Meanwhile, labor force participation among young men with a four-year degree has remained mostly flat.
  • Full-time, full-year employment: The share of employed young men without a college degree who are working full time and year-round has varied somewhat over the years – trending downward during recessions. It’s risen significantly since the Great Recession of 2007-09, with the exception of a sharp dip in 2021 due to the COVID-19 pandemic. For employed young men with a college degree, the share working full time, full year has remained more stable over the years.

Chart shows Earnings of young men without a college degree have increased over the past 10 years

  • Median annual earnings: Since 2014, earnings have risen for young men with some college education and for those whose highest attainment is a high school diploma. Even so, earnings for these groups remain below where they were in the early 1970s. Earnings for young men with a bachelor’s degree have also trended up, for the most part, over the past 10 years.
  • Poverty: Among young men without a college degree who are living independently from their parents, the share in poverty has fallen significantly over the last decade. For example, 12% of young men with a high school diploma were living in poverty in 2023, down from a peak of 17% in 2011. The share of young men with a four-year college degree who are in poverty has also fallen and remains below that of noncollege young men.

Trends for young women

  • Labor force participation: The shares of young women with and without a college degree in the labor force grew steadily from 1970 to about 1990. Among those without a college degree, the share fell after 2000, and the drop-off was especially sharp for young women with a high school diploma. Since 2014, labor force participation for both groups of young women has increased.
  • Full-time, full-year employment: The shares of employed young women working full time and year-round, regardless of their educational attainment, have steadily increased over the decades. There was a decline during and after the Great Recession and again (briefly) in 2021 due to the pandemic. Today, the shares of women working full time, full year are the highest they’ve ever been across education levels.

Chart shows Earnings of young women without a college degree have trended up in the past decade

  • Median annual earnings: Median earnings for young women without a college degree were relatively flat from 1970 until about a decade ago. These women did not experience the steady decline in earnings that noncollege young men did over this period. By contrast, earnings have grown over the decades for young women with a college degree. In the past 10 years, earnings for women both with and without a college degree have risen.
  • Poverty: As is the case for young men without a college degree, the share of noncollege young women living in poverty has fallen substantially over the past decade. In 2014, 31% of women with a high school diploma who lived independently from their parents were in poverty. By 2023, that share had fallen to 21%. Young women with a college degree remain much less likely to be in poverty than their counterparts with less education.

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ABOUT PEW RESEARCH CENTER  Pew Research Center is a nonpartisan, nonadvocacy fact tank that informs the public about the issues, attitudes and trends shaping the world. It does not take policy positions. The Center conducts public opinion polling, demographic research, computational social science research and other data-driven research. Pew Research Center is a subsidiary of The Pew Charitable Trusts , its primary funder.

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Is College Worth It?: Exploring the Benefit of a College Degree

Is college worth it.

The value of a college degree is a complex issue with mixed opinions, leaving many students wondering, “Is college worth it?” According to a recent Pew Research Center report , nearly half of Americans today say a college degree is less important than it was 20 years ago. Moreover, tuition and fees have grown by over 40% in the last 20 years, requiring students to balance the benefit of college with the reality of paying for it.

With the price of college growing each year, the question of “Is a college degree worth it?” is on many students’ minds. If you’re asking yourself “Is college a waste of time?” or “Is college worth the cost?” this is the article for you.

Throughout this guide to “Is College Worth it?” you’ll find plenty of statistics, insights, and information into the true value of college. In this guide we will:

  • Discuss the benefit of college in terms of personal development and career prospects
  • Break down the cost of college beyond tuition and fees
  • Review the landscape of financial aid and student debt
  • Address the question: is community college worth it?
  • Explore alternatives to a four-year degree
  • Consider the benefits of not attending college, and more!

So, is college worth it? Let’s find out.

College Degrees 101

Just as there are many different types of colleges, there are many different types of degrees. To effectively answer the question “Is a college degree worth it?” we have to be clear about what kind of college degree we are talking about.

An academic degree focuses on developing broad theoretical knowledge and critical thinking skills within a particular area or field of study. Earning an academic degree can help prepare you for a diverse array of careers. A degree can also provide you with the necessary foundation and credentials needed for further study.

Types of academic degrees

To explore of the question of is college worth it, we start by getting a better handle on what results from attending college, a college degree! There are four main types of academic degrees students can pursue after earning their high school diploma or GED:

Associate’s Degree

An Associate’s degree typically takes two years to complete. Community and technical colleges , and even some four-year universities, offer this degree. Depending on your area of study, you can earn an Associate of Arts (A.A.) or Associate of Science degree (A.S.).

Bachelor’s Degree

This is the most common type of undergraduate degree. Once you choose your major (your area of study), you take courses focused on that specialization. A Bachelor’s degree typically takes four years to complete. While the most common four-year degrees are a Bachelor of Arts (BA) or Bachelor of Science (BS), you can also earn a Bachelor of Fine Arts (BFA) or Bachelor of Architecture (BArch) degree. 

Master’s Degree

Some careers require additional education beyond a four-year undergraduate degree. You may pursue a graduate degree such as a Master of Science (MS), Master of Arts (MA), Master of Education (M.Ed.), Master of Fine Arts (MFA), or Master of Business Administration (MBA). These degrees typically take two years if you carry a full course load, although timelines can vary depending on your field of study.

Doctoral Degree

A Doctorate of Philosophy (PhD) or professional doctorate (like a doctor of medicine or MD) is the highest academic qualification you can earn. In addition to coursework, doctoral candidates must take comprehensive exams and write and defend a thesis or dissertation before a panel. Completing this degree takes an average of four to six years, depending on the specialization.

Students generally choose to attend a community college or a four-year college to earn their first degree. (Later, we’ll compare these two types of colleges and answer the question “Is community college worth it?”). One major benefit of college is the chance to explore diverse fields of study and discover personal passions. However, pursuing an academic degree isn’t the only option for continuing your education.

Academic vs. vocational degrees

A vocational degree focuses on developing practical, hands-on skills for a specific job or trade, like an electrician, plumber, or mechanic. This training takes less time to complete—typically 1-2 years, though the exact length depends on the program.

Although it’s not as extensive as a traditional degree, a vocational degree is a great choice for students focused on a specific career. Earning a vocational certificate shows you have the skills needed to succeed, allowing you to enter the workforce quickly and with less debt. 

As more students explore vocational training and online courses, a question remains: Is college worth it for those seeking immediate employment opportunities? To try to dissect this question, let’s first talk about why a college degree is important.

Why is a college degree important?

While college degrees often lead to higher earnings and lower unemployment, many Americans have mixed feelings about the value of college. Indeed, many are split on the question “Is college worth it?” According to Pew Research , when asked “Is college worth it?”, only 51% of Americans believe that an undergraduate degree prepares graduates “somewhat well” for a good-paying job. 

So, why is a college degree important? One key benefit of college is that it opens up your options, in terms of both your education and your career. Many fields and professions, like business, education, finance, healthcare, and technology, require an undergraduate degree as a minimum qualification. Furthermore, obtaining an undergraduate degree is essential if you plan to pursue graduate school in the future.

However, a college degree doesn’t automatically ensure a good job. With the rise of online learning and alternative career paths, it’s fair to ask: Is college a waste of time when the job market is rapidly changing and evolving? To answer this question, let’s get more specific about the benefits of a college education.

Top 10 benefits of a college degree

Is college a waste of time? Definitely not! Whether you attend a two- or four-year college or a technical college, the benefit of college is undeniable. Here are 10 great reasons why college is worth it:

10 Benefits of a College Degree

  • Exposure to diverse perspectives and ideas. College offers a unique opportunity to explore a wide range of ideas across various subjects. Furthermore, engaging with classmates from diverse backgrounds exposes you to different perspectives, enriching your learning experience.

2. Connections to professional networks and mentorship. You’ll have ample chances to connect with peers, faculty, and alumni who may become valuable professional contacts. Higher education institutions often have relationships with businesses and organizations that offer internships and provide job opportunities and industry insights.

3. Enhanced critical thinking and problem-solving skills . Your college professors will challenge you to analyze complex information, evaluate arguments, and develop logical reasoning skills. You’ll learn how to approach and solve problems while developing the confidence and ability to make informed decisions about your career.

4. Access to advanced resources and facilities. Colleges and universities have extensive libraries and research centers with an incredible range of resources and materials. You may gain access to specialized labs and equipment, especially in classes requiring research or preparing you for a more technical career. 

5. Opportunities in specialized fields and careers. Many universities offer a depth and breadth of majors and programs, allowing you to explore your interests until you find a field to focus on. Internships and co-op experiences will give you practical experience and help you network with professionals and alumni in your field.

6. Qualifications to pursue graduate degrees. An undergraduate degree provides a solid foundation for pursuing a master’s or doctoral degree. Graduate programs also require specific undergraduate prerequisites or coursework, which your college education will give you.

7. Higher earning potential over time. College graduates typically earn more than those without a post-high school degree, especially over time . A college degree can make you more competitive in the job market, help you climb the professional ladder, and increase your job security.

8. Increased social mobility and economic stability. Education can break the cycle of poverty by providing people with the skills and opportunities to improve their economic circumstances. 

9. Personal growth and lifelong learning opportunities. College invites you to discover your passions, interests, and strengths. While you’ll acquire practical skills like writing, time management, and knowledge about your chosen field, you’ll also have opportunities for self-discovery and personal growth. Challenging classes will stimulate your mind and foster a lifelong love of learning. 

10. Improved satisfaction and overall quality of life. Earning a college degree fosters a sense of achievement and personal growth. This accomplishment can contribute to greater overall happiness and fulfillment, enriching your life beyond just financial benefits.

In the next few sections, we’ll discuss additional reasons why college is worth it. But first, let’s review key statistics that demonstrate the impact of earning a degree versus not having one.

Benefits of a college degree statistics

As we’ve seen, there are plenty of benefits of a college degree. But, what are the numbers behind these benefits? Let’s look at some concrete statistics to consider as you weigh the pros and cons of earning a college degree.

College Degree Statistics

  • A college degree as a necessity: According to The Future of Good Jobs: Projections Through 2031 , by 2031, 85% of “good” jobs will require some type of postsecondary education.
  • Higher average income for college graduates: In 2023, the Bureau of Labor Statistics reported the average income for college graduates (ages 22-27) was $60,000. For high school graduates (ages 22-27) it was $36,000.
  • Lower unemployment rate for college graduates: The unemployment rate of high school graduates was 4% in September 2024. The unemployment rate of college graduates during the same period was 2.8% .
  • A healthier life: Studies have linked education to better health outcomes and quality of life—each year of additional education decreases mortality by 2% .

Looking at these types of statistics, the answer to “Is college worth it?” is overwhelmingly yes. However, it’s critical to be realistic about the true cost of college.

The benefit of college vs. the reality of student debt

The potential for higher lifetime earnings is frequently cited as a key benefit of college that justifies its cost. However, understanding the return on investment is an important aspect when considering the benefit of college in relation to its cost.

One of the key concerns students have as they wonder “Is a college degree worth it?” is student debt. Student loan debt in the U.S. is extraordinarily high, with the average debt-to-income ratio (DTI) for new graduates at 61% . The debt per student for 2024 graduates averaged $37,850.  

Despite rising tuition costs, many argue that the long-term benefit of college still outweighs the financial burden, especially in terms of career prospects. Later, we’ll discuss how to minimize your student debt with a comprehensive strategy for paying for college.

Benefit of college beyond a college degree

While a degree remains a valuable asset in the job market, the benefits of college extend far beyond the diploma itself. This educational experience offers many opportunities for personal and professional growth while developing other essential life skills. So, let’s look beyond the academic credentials as we dig a little deeper into the question “Is college worth it?”

Skill development

A key benefit of college is the development of critical thinking and problem-solving skills, which are highly valued by employers. Other key skills include written and verbal communication, teamwork, and time management. The Indeed Career guide lists other real-world skills employers value, including global thinking, digital literacy, creativity, and professionalism. 

Building a network

Another significant benefit of college is the opportunity to network with professionals and peers who can support your career journey. This might include attending industry conferences or connecting with alumni through student organizations Additionally, the mentorship from professors serves as a crucial benefit of college, guiding students on their professional paths. 

Valuable resources

A significant benefit of college is the access to resources and support systems that aid in career development. Many schools have career centers that can help you build your resume and secure internships, providing essential tools for entering the job market. Career fairs and development resources also offer reliable platforms for networking and exploring potential job opportunities. 

Experiential learning

Beyond academic pursuits, colleges invite you to take advantage of experiential opportunities unique to their institution. Study abroad programs encourage you to immerse yourself in different cultures, learn new or sharpen your other language skills, and broaden your perspective. Research opportunities partner you with experts in their field and other students, where you can collaborate and contribute to original knowledge and hone your research skills.

Social benefits of going to college

When discussing the benefit of college, it’s essential to consider the social aspect of it. Extracurricular activities like clubs, sports, and organizations offer a platform to explore or develop new interests, cultivate leadership skills, and build lasting friendships .

Moreover, a key benefit of college is the exposure to different cultures and perspectives that enrich a student’s worldview. Campuses with a diverse student population foster a rich tapestry of perspectives, experiences, and cultural backgrounds, enhancing your learning experience. This exposure to different worldviews, values, and cultural traditions can challenge preconceived notions, broaden horizons, and foster empathy and understanding.

Many colleges also encourage students to volunteer for local organizations and causes. Higher learning institutions might promote civic engagement through voter registration drives, political debates, and community forums, ensuring you become informed and engaged citizens contributing to a more democratic and just society.

As you look for your perfect college match , consider the kind of community you’ll be joining. Many schools, like women’s colleges and historically Black colleges and universities (HBCUs), prioritize creating inclusive communities where students feel valued and supported. These institutions also prioritize student empowerment, providing opportunities for leadership development to help their students build the confidence to become more involved in their communities and champion social responsibility.

The social experiences and lifelong friendships formed during college can be an invaluable benefit of college life. So, is college a waste of time? Absolutely not. There are countless reasons why college is worth it–so let’s turn our attention to how to pay for it. 

Investing in a college degree

With tuition fees skyrocketing, many families are grappling with the question “Is college worth it?” given the financial strain involved.

Generally speaking, the answer appears to be yes. The results of a USA Today survey showed that most college graduates answered “yes” to the question “Is college worth the cost?” Let’s take a look at the numbers by field of study.

% of Students that say College is Worth it:

  • 68% of arts and humanities graduates
  • 63% of STEM and business graduates
  • 54% of health and medicine graduates
  • 52% of social sciences graduates

Overall, about three-quarters of participants said their education was worthwhile, with nearly 60% saying their investment justified the cost.

Return On Investment (ROI)

Generally speaking, college is a huge upfront expense–but, it’s also a long-term investment in your future. If you earn a bachelor’s degree, you’ll earn more than someone with a high school diploma—about 66% more. The caveat? It can take a while before you see a solid return on your investment (ROI). You can estimate your ROI based on various factors, including your major, where you go, and how much you must borrow:

You can calculate the ROI on your college degree by multiplying the average yearly income for that major by 10 (representing 10 years of income), dividing by the degree’s total cost, and multiplying the amount by 100.

Choosing the right major

So, how can you make a college degree worth it? For starters, by choosing your major carefully. Try talking to family members, teachers, and college grads about their educational and career trajectories . But don’t let them pressure you into majoring in something you have no interest in.

You’ll want to study something that genuinely interests you while learning marketable skills to help you find a job after graduating. Research careers to see which pay well and learn what degree level you’ll need. Then look into what colleges offer the major you want at a price point you can afford.

The real cost of college

Analyzing the cost of college is essential for understanding the broader question “Is college worth it?” So, let’s break it down.

The price of college varies by institution (i.e. public university vs. private college, in-state vs, out-of-state). In 2022-23 , yearly tuition costs were about $9,800 at public, four-year institutions. Comparatively, private nonprofit colleges averaged about $40,700 per year for tuition.

But those numbers just cover tuition, not the other costs—some obvious and some hidden. Aside from room and board —$12,302 at public, four-year institutions and $13,842 annually for private, nonprofit institutions—there are other fees to factor into your budget.

Additional Fees for College

Health and wellness

You may have to pay for access to counseling services or prevention initiatives.

Health insurance

This is another cost you may incur if not covered by a parent’s insurance.

Student organization

Many sororities and fraternities, sports teams, and other intramural clubs have fees in order to participate.

Transportation

Think about the cost of shuttles, buses, subways, or Uber.

If you have your own vehicle, you’ll need to pay for parking on campus or city lots.

You may need to pay for computer rentals, wifi access, printing, or computer labs.

Additionally, you should also expect costs directly associated with academics. Most courses require a textbook, whether hardcopy or electronic. Expect to budget about $1,220 annually for books and supplies. You can, however, save on textbooks by renting from companies like Chegg, eCampus, or even Amazon or purchasing them used.

Art classes and science labs may carry additional fees, too. Boston College charges about $360 for lab fees and anywhere from $55 to $765 for art, film, and music courses. Don’t forget to factor in these additional fees when considering the question, “Is college worth it?”

Overall cost of attendance

When we account for costs including housing, books, supplies, tuition, and other required fees, the price of college goes way up . Four years at a public institution costs around $108,000. At private colleges, the cost more than doubles at $234,000.

So, is college worth the cost of attendance? The answer: it depends what kind of school you choose to attend, so be sure to consider all of your options. Don’t discount the benefits of attending a public university . Many boast a strong alumni network, state-of-the-art facilities, research and internship opportunities, and, most importantly, a lower tuition rate for in-state students.

If you’re wondering, “Is community college worth it compared to a four-year university?” keep reading. Next, we’ll discuss how students can pay for college while managing their student debt. Then, we’ll talk about different types of colleges and universities.

Paying for college: Loans, Financial Aid, Scholarships

As student loan debt reaches unprecedented levels, the critical question remains: Is college worth it when weighed against the costs involved? Fortunately for many students intimidated by the cost of college, you can reduce some of your college expenses with a little out-of-the-box thinking.

Financial aid applications

The reality is, few students end up paying the full sticker price. Students generally pay for college with a mix of grants, loans, and scholarships, along with their family contribution. To apply for financial aid during the college admissions process, you’ll need to fill out two financial aid applications : the Free Application for Federal Student Aid (FAFSA) and the College Scholarship Service (CSS) profile.

FAFSA is a free universal application the government uses to calculate financial aid (grants, loans, work-study programs) you qualify to receive. The CSS costs $25, however, it’s what many institutions use to calculate your eligibility for non-federal aid like grants, loans, and scholarships.

Understanding your financial aid award

Financial aid plays a key role in answering the question, “Is college worth it?” When students receive their college admissions decisions, they’ll receive a financial aid package. Each package differs from student to student, so let’s look at what might be included.

Types of Financial Aid

  • Federal student loans: These are fixed-interest rate loans. Every July 1, the interest rate is determined and set for the loan’s duration. The Direct Loan Program, the primary federal student loan program, gives subsidized and unsubsidized loans to eligible undergraduate students. The student aid website offers a clear breakdown of loan types, explaining who can borrow and how much. 
  • Federal grants: Unlike loans, federal grants don’t require repayment . The best-known grant is the Pell Grant, which gives qualified students up to $7,395 based on calculations determined from your information on the FAFSA.
  • Work-study: Work-study programs also help offset college costs. The information you provide on the FAFSA determines if you qualify. The availability of part-time work options on campus serves as a practical benefit of college, helping students manage their expenses.
  • Institutional need- and merit-based scholarships: One major benefit of college scholarships is that they reduce the financial burden of tuition, allowing students to focus on their studies. You can apply for both scholarship categories based on your financial need and academic accomplishments.

You’ll be expected to pay any remaining costs not covered by your financial aid package. Ultimately, it will be up to you to answer the question of is college worth the cost not covered by financial aid?

Private loans and external scholarships

Let’s say your estimated family contribution is still higher than you can afford. In this case you might be wondering: if I have to take out student loans, is college worth it?

There’s nothing wrong with borrowing to help pay for college —especially if you’ve chosen a major that will lead to a lucrative career. But remember, when asking yourself, “is college worth it?” you’ll need to consider two types of loans: federal and private .

Federal loans often have a fixed interest rate and other benefits such as income-driven repayment plans. These loan terms and conditions are set by law. On the other hand, private loans from banks or other organizations have terms set by the lender. Generally, private student loans have higher interest rates than federal loans. You’ll want to carefully consider interest rates and repayment options when deciding which student loans to take on.

Additionally, before taking loans, be sure to search for additional scholarships and ways to lower the cost of college . The variety out there may surprise you!

Navigating Student Debt

When asking yourself , “Is college worth it?”, the largest factor is likely the debt you might incur from your college degree. For many, the benefit of college means earning more money long term. Of course, you’ll need to consider how much debt you’ll have and how long it might take to pay it off. For higher earning majors, the benefit of college may largely outweigh the debt; however, for those in the arts, it may not. 

As the price of higher education continues to rise, student debt seems to go hand-in-hand with gaining a college degree. In the U.S., a quarter of adults under 40 have student loan debt . The median owed by those with student loan debt ranges from $20,000-$24,999. Nearly 25% of young college graduates (aged 25–39) with student loan debt say that they are struggling financially. 

Therefore, financial literacy and budgeting is an important part of managing student loan payments after graduation. The good news is that federal loans may even offer loan forgiveness after meeting certain requirements, like working in the public sector. 

So, is college worth the cost of student loans? For most, yes–this temporary financial burden usually pays off in the long run. For those who answer yes to the question of is college worth it, they will realize that many of those with student loan debt still have a higher income than those who don’t have a college degree. In fact, 48% of college graduates with student loan debt have household incomes of $100,000 or more.

Is a College Education Worth it?

So, is college a waste of time? No — investing in a college education can have great returns . At the same time, for many, acquiring student loans may be a necessary part of the college journey. 

There are plenty of nuances when it comes to student loan debt. Various factors will come into play when thinking about the benefit of college. In general, the price of college is high; however, the type of degree you obtain will largely influence the cost of your education. For example, a four-year bachelor’s degree will cost much less on average than medical school. So, when it comes to undergraduate degrees, the question may not necessarily be “is college worth it?”, but rather “is this college worth it?”

Living with debt can be stressful and has forced many to question the benefit of college, seriously asking themselves, “Is college worth it?” But remember, there is no right answer for everyone; it depends on every individual’s specific circumstances and goals. You’ll need to carefully consider your future career and personal goals. Be practical about what you and your family can afford, as well as your earning potential in your areas of interest. 

For most students, when asked “is college worth it?”, the answer is a resounding yes. However, even with these long-term financial benefits, many of those with student loan debt still question the value of college. So, is college worth it? According to over a third of college graduates aged 25-39 with student loan debt, the answer is no. 

Now, before writing off college all together, consider that there are some types of colleges that don’t cost as much.

Understanding Different Types of Colleges & Universities

College can be a huge investment, but there are certainly more affordable and accessible options out there. For example a community college is much less expensive than a top public university. With so many higher education options available, there is truly an option for everyone. Here are four different types of higher education institutions and their offerings: 

Liberal arts colleges

These are four-year undergraduate institutions that emphasize an education in liberal arts fields, such as humanities and social sciences. Often, these schools focus on general knowledge and well-rounded education rather than a specialization or technical field. Liberal arts colleges also tend to have smaller student bodies, leading to smaller class sizes and a tighter-knit community campus . Most liberal arts colleges are private institutions, which means they don’t receive government funding. Therefore, the cost can seem higher. However, there may be more scholarship opportunities for the right students at these schools as compared to larger public schools. 

Research universities

Research is, unsurprisingly, the main priority of a research university. This means that the faculty not only teach, but also conduct and publish research. Research universities tend to be larger in size and are often public universities, meaning they receive government funding. There are many majors, minors, concentrations, and specializations to choose from at these institutions. And, of course, conducting research as a student is also important; therefore you’ll gain hands-on experience in your field. Most of these universities also offer graduate programs. 

Community Colleges

With options to pursue undergraduate degrees as well as shorter vocational and technical programs, community colleges can be an affordable option. Additionally, they can serve as stepping stones before transferring to another institution to complete a four-year bachelor’s degree. They can also provide students with a specialized education from which they can continue on into the workforce. The average tuition of a community college is under $4,000, making it one of the most affordable routes to a degree. 

Online programs

Now more than ever, there are plenty of online programs that allow students to gain an undergraduate or graduate degree. In these programs, you’ll attend classes virtually or complete courses independently. Many colleges and universities now offer programs wholly or partially online. There are also online colleges that don’t offer an in-person option. Online programs can be more affordable, and they offer students flexibility. If you work part- or full-time, take care of family, or have other special circumstances, online programs can be a great option. 

Normally, the benefit of college outweighs the initial investment. So, when asking yourself, “is college worth it?” remember that there is no single route to obtaining a degree. There are plenty of options that may be more affordable than you may have thought possible.

The best option for you will vary depending on your needs, preferences, and goals. Consider a variety of factors when looking at options: cost, size, location, program offerings, etc. Does the program line up with your academic goals? Will it help you gain a career in your field of interest? Are there financial aid opportunities, or can you afford the tuition and fees? Thinking pragmatically about your options will allow you to choose the best school for you. 

Is Community College Worth it?

In short, absolutely! The price of college doesn’t have to be extravagant, and there are plenty of types of colleges with varying costs. For those looking for an affordable pathway to higher education, community college is an excellent option. If you find a program that aligns with your interests and goals, the answer to “is community college worth it?” is a resounding yes. 

When assessing the benefit of college, cost is a huge factor. Seeking out affordable options is a way to lessen the financial stress of gaining a college degree. However, there are many more benefits that come along with attending a community college. Let’s take a look at some:

Benefits of Community College 

  • Affordability. As one of the largest considerations when determining where to go to school, affordability makes community colleges more appealing and accessible to many. On average, community college tuition is about one-third that of four-year public universities (in-state). Additionally, many community colleges offer financial aid and scholarships to qualifying students. 
  • Flexibility. There is no one type of student. Some may be coming right out of high school while others may have been out of school for a while. Whatever the situation, community college allows for flexibility in scheduling. Many offer night classes or asynchronous coursework so that students can study while working full-time and/or raising a family. This makes it a great option for parents or working professionals. Alternatively, high school students can take advantage of dual-enrollment programs in order to get ahead on college credits, saving money in the long run. 
  • Transfer opportunities. Often, community colleges serve as a pathway to a four-year institution. In fact, many four-year universities have transfer agreements with local community colleges. This creates an easier transfer process to nearby four-year schools. Once you finish your associate’s degree at a community college, you simply enter as a junior when you transfer to a four-year university. That way, you start right away with courses in your major of interest. 
  • Skill development and career readiness. For those students who know what they want to do, community college can be a direct pathway to get there. Community colleges offer many career and technical education programs, such as nursing, firefighting, culinary arts, automobile mechanics, and more. After finishing these programs, students are equipped to enter the workforce. These programs are more focused than what you’d find in a traditional four-year institution. 
  • Personal development. Community colleges aim to set their students up for success, whether that be in the workforce or in a four-year institution. Personal development plays an integral part in the curriculum. While this part is often woven into the fabric of most community college curricula, some schools even offer a specific course in the subject.

What to do if you don’t go to college?

With more and more people questioning “is college worth it?”, it’s important to note that college isn’t the only pathway to future career success. Although for most, gaining a degree makes sense, for others, the benefit of college in their situation doesn’t outweigh the downsides. If you’re interested in alternatives to going to college, then there are other options. 

Attend a vocational program or trade school.

Vocational programs and trade schools are excellent options for high school graduates who want to enter a specialized field, and quickly. Usually, these programs are shorter than four years. Rather than having general education requirements like a four-year institution, they jump right into training students for their careers.

These programs can be found at community colleges but are also offered at private institutions. Before choosing your school, be sure it’s the right fit! Make sure the instructors are well-versed in their fields and that the program meets your career needs.  

While the main benefit of college is a higher earning potential, decent salaries from a trade school education are possible in many fields. Some examples of well-paying jobs that don’t require a bachelor’s degree are fire inspector, occupational therapy assistant, and theatrical makeup artist.

Gain an apprenticeship.

Apprenticeships are another viable pathway to entering specialized fields. As an apprentice, you will work under the supervision of an experienced tradesperson. Apprenticeships are on-the-job training programs, so they’re great options for those who relish learning on the spot. Many trade apprenticeships are also paid, so you can earn money while you learn.

If you’re questioning “is college worth the cost?” then consider that as an apprentice you will start earning right away—as you learn! However, you may need to meet certain qualifications such as having a high school diploma or GED. Some apprenticeships may also require prior experience. Some professions that commonly offer apprenticeships are carpenters, electricians, and plumbers. 

Work or seek out entrepreneurial opportunities.

For some, the answer to the question, is college worth it, is No. For them, another option to getting a college degree is heading straight into the workforce. With the right motivation and mindset, you can work your way up to a higher position. However, consider that the field you’re interested in will make a large difference in your future success without a degree. Some fields require a degree in order to get promoted and salary calculations usually factor in education. 

For those with an entrepreneurial spirit, starting your own business may be the right path. There are plenty of books, online programs, and certificates for entrepreneurs, and you don’t necessarily need a degree to start your own business! You just need to be motivated and willing to learn as you go. 

Taking a Gap Year

Is college a waste of time? Certainly not! Is college worth the cost? Well, that depends on the professional route that you want to take and must definitely be part of your considerations of “is college worth it?”. However, there is an alternative to heading directly into the workforce or college: taking a gap year . 

Taking a gap year simply means delaying your higher education, usually by just a year. Some colleges allow students to defer their admission for another year. This means you will go through the college admissions process your senior year, and simply defer your offer. Other students decide to apply or reapply during their gap year. 

There are plenty of advantages to taking a gap year, such as traveling, maturing, and gaining clarity on personal and career goals. However, it’s not necessarily the cheapest option. You’ll likely need to work part of the whole year to fund your travels. Some students simply take a gap year to work full-time to offset some of the costs of college. 

Therefore, gap years will look different for everyone. Some students opt to volunteer, while others do an internship, or take part in skill-building experiences. What you choose to do in your gap year will ultimately depend on your interests, goals, and finances. 

Alternatives to college

Is college worth it, or should you do something else entirely? Again, it depends on what you want to do in the future. For some, pursuing vocational education and training programs are practical alternatives to college . If you know what you want to do, then you may prefer to start working right away. 

Of course, there is the reality of entering the workforce directly. Entry-level positions aren’t often fun and have lower pay. Plus, more and more entry-level jobs require more than a high school diploma. As a worker without a degree, you may find limited options for promotions and raises. Indeed, you may see coworkers with degrees advance more rapidly. 

While we mentioned various alternatives, one that we haven’t looked at is joining the military. In fact, the GI Bill allows soldiers and veterans to pursue an education on the government’s dime. The GI Bill covers college tuition, online schooling, certification programs, vocational training, entrepreneurship training, and flight school. The caveat, of course, is that you may need to delay your educational plans for a few years.

Benefits of not going to college

If your answer to “is college worth it?” is a no, then you’re probably not convinced of the benefit of college. While there is a high value of college to many, to others it simply doesn’t make that much sense. There are plenty of reasons why college is worth it; however, we’re going to take a look at some of the potential benefits of not attending college. 

Potential Benefits of Not Attending College

  • Financial benefits . There are both immediate and long-term financial benefits of avoiding student loans and the cost of college, which are part of considering “is college worth it?” For one, you won’t be stressed about having large amounts of student loan debt. There won’t be a pressure to be making monthly payments, which can give you the freedom to explore other things. However, keep in mind that a college degree is needed to break into and advance in some fields.
  • Work experience . Learning on the job can be the best route for many. If you prefer to dive right into your work, then there are plenty of careers that will allow you to do that. And, work experience will allow you to develop both soft and hard skills that will make you a well-rounded person and professional in the long-run.
  • Skill development . There are plenty of fields that don’t require a degree. Those who are interested in gaining a specific skill or perfecting a craft or trade can do well without a degree. Finding an apprenticeship is an excellent way to learn on the job. 
  • Flexible career choices . Is college worth it? Well, there may not be a benefit of college if you lack motivation, interest, and the finances to pay for it. Many students are unsure what they want to do, and for some, discovering that in college just isn’t worth the high price tag. Entering the workforce directly will allow you to better understand what you enjoy as well as what you’re good at. This may expand your career opportunities–whether it’s deciding to learn a new trade or start a business.
  • Potential for entrepreneurship . Speaking of business, many with an entrepreneurial spirit will have success without a degree. Indeed there are no degree requirements to becoming an entrepreneur. If you are motivated, a self starter, and passionate about owning a business, then the possibilities are infinite–with or without a degree!

Is college a waste of time? Gaining an education is certainly never a waste. However, there may not be a real benefit of college depending on your future career goals. Ultimately, the benefit of college may not outweigh its high cost. So, consider the question: is a college degree worth it for you ?

Is College Worth it?- Final Thoughts

We’ve asked and answered plenty of questions in this article: Is college worth the cost? Is college a waste of time? Basically, is a college degree worth it? With the rising costs of higher education, many are questioning the real benefit of college. Certainly, there are many types of college educations that offer affordable options and many reasons why college is worth it.

For example, if we ask “is community college worth it?”, many would say yes because of the flexibility and low tuition. But, if we look to a large, prestigious public university, the benefit of college may be less convincing with a higher price tag. 

Of course, answering “is college worth it?” is a personal question that will depend on you and your future goals. There is an undeniable benefit of college and plenty of reasons why college is worth it. But that doesn’t mean it’s the only pathway to success. Ultimately, you’ll need to consider the potential benefit of college for you.  If you’re convinced of the benefit of college in your life, and need some help with the college admissions journey , then reach out! CollegeAdvisor has a team of experts who are ready to help you in your higher education journey, helping you find the best fit.

This article on “Is College Worth it?” was written by Jodi Ireland and Sarah Kaminski. Looking for more admissions support? Click here to schedule a free meeting with one of our Admissions Specialists. During your meeting, our team will discuss your profile and help you find targeted ways to increase your admissions odds at top schools. We’ll also answer any questions and discuss how CollegeAdvisor.com can support you in the college application process.

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Experts discuss whether college is still worth it

Subscribe to the center for economic security and opportunity newsletter, gabriela goodman gabriela goodman senior research assistant - economic studies , center for economic security and opportunity.

December 13, 2023

This is a summary of an event held on December 7, 2023. You can watch the full video of the event here .

Higher education has historically been seen as the most reliable path to economic mobility. However, with uncertainty around student loan programs, high sticker prices, and growing distrust in institutions, Americans are increasingly questioning whether college is still worth it.

On December 7, 2023, the Center for Economic Security and Opportunity (CESO) hosted a virtual panel moderated by Sarah Reber, a CESO senior fellow, to discuss the value of higher education and returns to obtaining a college degree. Below are some key takeaways.

Attitudes toward higher education have shifted.

Paul Tough, a contributing writer at the New York Times Magazine where he has written about these trends, started the discussion off by summarizing changing attitudes toward higher education: Ten years ago, 74% of young adults agreed that higher education is very important, down to only 41% today. This shifting perspective is manifesting in declining college enrollment, explained Tough. The number of U.S. undergraduates has declined to 15.5 million from 18 million in 2010.

Tough attributed this trend to two primary causes. First, trust in institutions is falling, and higher education is no exception. This is particularly the case among conservative voters who perceive colleges as pushing a liberal political agenda. Second, people are worried about the financial risk associated with high college costs and low completion rates.

Research suggests that average returns to college are still high.

David Deming, Harvard University Professor of Political Economy, explained that after increasing for decades, the college wage premium—the difference in average earnings between college graduates and non-college graduates—has plateaued, but remains around 65%. That is, the average four-year college graduate earns about 65% more than the average high school graduate.

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The panelists also discussed the cost of going to college, noting that financial aid is available for qualifying low-income students, though it is not always enough to make college affordable. Stephanie Cellini, George Washington University Professor of Public Policy and Economics, pointed out that while the average posted “sticker price” of college has been rising, the “net price”—what students pay after subtracting out financial assistance that doesn’t have to be repaid—is lower than the sticker price that receives so much attention. She notes that the average sticker price has actually been decreasing in recent years. (See a recent discussion of that trend here .) Still, Cellini emphasized that many students have to take out loans to afford college and then struggle to repay these loans.

Denisa Gándara, Assistant Professor of Educational Leadership and Policy at UT Austin, added that higher wages are not the only benefit of college attendance. For example, there is a growing body of evidence suggesting that college graduates have better physical and mental health. Society also benefits when people go to college; college graduates tend to be more civically engaged, reported Gándara.

Returns vary by institution.

Cellini said that some colleges, particularly for-profit institutions, are riskier than others. For-profit colleges are generally more expensive than non-profit or public alternatives and don’t increase earnings as much. As a result, students who attend for-profit institutions tend to have higher debt and are more likely to default on their student loans. Gándara expanded on this point, saying that for-profit institutions enroll a disproportionate number of low-income, veteran, and older students. This disparity means that it is often students from more disadvantaged backgrounds that attend schools with lower returns.

Starting but not completing college can make students financially worse off.

Tough pointed out that about 40% of students who start college don’t complete their degree. These students often end up in a worse financial position than their peers who chose not to attend college in the first place.

Our college institutions are in desperate need of reform. David Deming, Harvard University Professor of Political Economy

Deming agreed that completion is too low and suggested that lack of resources at many colleges is a major part of the problem. Student support services are particularly important. As Gándara mentioned, public and other less well-funded schools enroll more low-income students—exactly the types of students who could benefit more from stronger support systems.

Community colleges have limitations but can be an affordable alternative to four-year institutions. 

Panelists pointed out the value of community colleges, an oftentimes more affordable option than traditional four-year colleges. Students can start at community college and transfer to a four-year college. However, as Deming noted, transferring from community college to a four-year college is not necessarily a smooth process. Additionally, he added that short-term programs often lead to shorter-term benefits and fewer transferable skills. Both Deming and Cellini touched on potential benefits of “stacking” credentials, meaning using multiple educational programs such as vocational training and traditional degrees to build a more comprehensive skillset and knowledge base.

Where do we go from here?

The panelists described a number of approaches to increasing the returns to college and improving college completion rates. Cellini mentioned initiatives to hold schools accountable for their students’ outcomes. Both Cellini and Tough proposed efforts to make information about financial aid and college choices more easily accessible and digestible, though Tough argued that some policy discussions have over-emphasized helping individual students navigate a too-complex system at the expense of more systematic change that would make higher education fairer. Deming suggested expanding government subsidies to make college more affordable. The panelists agreed that community colleges require more funding.

So, is college still worth it?

The consensus among the panelists: College is worth it for most people, with some caveats. Institution type and area of study both impact the returns to college, as do academic preparation and risks associated with not completing a degree. “The system is not fair,” Tough added.

There are actions society can take to make college pay off for more people. “Our college institutions are in desperate need of reform,” concluded Deming. As reiterated throughout the panel, the U.S. college system disadvantages low-income students, often leaving them with substantial debt while providing insufficient support systems to help them succeed.

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Is College Really Worth It? Expert Cost-Benefit Analysis

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With tuition rising every year, more and more students are asking themselves, "Is college worth it?" Many people believe that getting a college education is an important part of becoming a successful adult. Others, however, find it difficult to justify the increasing investment necessary to earn a degree. There’s no one path that’s right for everyone, and it can be difficult to think critically about the decision to go to college when you’re feeling pressured one way or another.

There’s no simple answer to this question, but  there is a rational way to think about whether college is the right path for you . Just as with any investment, you want to think about the relationship between what you put into it (like money, time, and effort) and what you get out of it (like education, networking, and career opportunities). The more you get out of it as compared to how much you put in, the better the investment.

In this post, I'll go through all the potential benefits and drawbacks of pursuing a four-year bachelor's degree so you have all the information to decide for yourself whether college is worth it. 

A Bit of Background on the Value of a College Degree

Before we get started, I want to fill you in on the how the worth of a college degree has changed over time. This way, you'll have a better framework for understanding whether a degree may (or may not) be worth it for you. 

Since the mid-20th century, the US population has become increasingly educated - simply put, more people are getting bachelor's degrees. In this graph from the US Census Bureau, you can see how the percentage of people with BA degrees has increased from 4.6% in 1940 to 32% in 2015 :

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There are many reasons why we've seen these educational attainment changes over time, including:

  • The decline of manufacturing jobs , especially for unskilled workers.
  • Employers seeking college graduates for positions that didn't previously require a bachelor's degree.
  • Government subsidies in higher education, making college more affordable (until costs rose to meet demand, thereby making college more expensive ).

Overall, there are a lot of financial and political factors that have influenced this significant and prolonged shift in how people view college degrees: now, it's often considered difficult to get a well-paying job (or any job, really) without a college education . 

That doesn't mean, however, that going to college is always the smart thing to do. It's a big decision, and it's one that warrants some critical thought. To help you think about whether college is worth it for you specifically, let's jump right into the good stuff: the possible investments you have to make to get a college education and the possible benefits you reap as a result. 

What You Put In: The Costs of College

If you're thinking about pursuing a college degree, you'll have to make some sacrifices. The following factors are what I consider to be investments in a post-secondary education. The extent to which these investments affect you depends on your own unique situation , so I'll explain how to think critically about these issues in each section. 

Overall, the major investments you would have to make in a college education are money, time, and effort. Let's see exactly how these might affect whether college is a worthy investment. 

The amount of money that you invest in your education depends on so many factors: your specific school, your financial need, your academic strength, potential scholarship winnings, etc. 

In general, the less money you have to pay for school, the better an investment your education will be . However, even an expensive degree may be well worth it if it pays out in the long run (I'll talk more about that in a bit). 

Tuition is the most obvious cost associated with attending college, but you also have to worry about room, board, books, personal expenses, and transportation. For more information on all the nitty gritty details of educational expenses, check out our college costs guide . 

The financial investment you'll make in pursuing a bachelor's degree is perhaps the most important investment to consider . The average US college grad leaves school with a pretty significant amount of debt - debt that's sometimes very difficult to overcome. There are ways to make your college education more affordable , but sometimes it's tough (or even impossible) to get those expenses down to a comfortable amount. 

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Most people take four years to complete a BA degree. Depending on your career goals, this may represent an opportunity cost - basically, you might be losing out on other valuable opportunities (to gain job experience, make money, or both) because you're spending these four years in school and out of the work force.  

A college education is definitely valuable to many employers, and it's correlated with higher earnings later on in life (I'll talk more about this soon). But building work experience in a particular field, in addition to building wealth, is also valuable - giving up on those opportunities is an investment (or a sacrifice) that you make in order to get a degree. 

It’s easy to sleep in and skip classes once you have the freedom and independence of a college student. But you’re already investing time and money into your education, so it’s important to make the most of it while you’re there.

Building a strong educational background and making professional and personal connections (important benefits of getting a degree) doesn’t just happen - it takes work, and it can sometimes be stressful . It also may involve doing things you don't necessarily want to do, like taking required courses or completing uninteresting assignments. It's important to honestly consider these challenges (and whether you're up to them) before committing yourself to school, especially if it comes with a hefty price tag. 

What You Get in Return: The Benefits of College

You might be feeling a bit iffy about pursuing a degree at this point, but don't stop reading just yet. There are so many potential benefits that come with a college education.

The major benefits I see that come with a BA degree (although there can be many more) are increased employment opportunities, higher income, networking opportunities, personal development, and learning experiences. 

Employment Opportunities

Colleges and universities are recruiting hubs for many industries. When you study at a college or university, especially one that's well ranked, there are often opportunities to  meet with corporate employers who come directly to your school to hire students. There are also  internship opportunities during summers for that could lead directly to full-time employment post-graduation. 

Employment opportunities offered through colleges and universities extend beyond the corporate world and into academia and professional fields.  Any profession that requires a graduate degree ( e.g. law, medicine, sometimes business) or is centered around research (basically any job in academia) requires a BA degree first and foremost . 

Higher Income

On average, people with college degrees make more than people without college degrees . E ven though you may sacrifice income opportunities in the short term by seeking a degree, you’ll likely end up making more in the long run. T his is especially true for people who go into STEM fields . 

Employers may also assume you’re better qualified for higher-paying jobs if you have a degree. Some jobs may require a BA even if your degree isn’t related to what you’d be doing on the job.

Networking Opportunities

In a college or university setting, you’ll build a network of friends, but you’ll also develop a network of acquaintances, instructors, staff, and alumni. With these networks, it’s a lot easier to get personal and professional help.

These connections can serve you in many different ways, especially after you graduate. Here are some ways that a college or university network may come in handy: 

  • You move to a new city and need to find a roommate.
  • You’re exploring a career change and want to chat with someone in a particular field.
  • You need some professional guidance or a letter of reference. 
  • You’re looking for a new job.

Harvard Business School estimates that 65-85% of jobs are obtained through networking  - if nothing else, it's a huge help when it comes to getting your foot in the door. 

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You don't even have to know very many people personally to benefit from a college or university network - alumni networks are a great example of this. 

Personal Development

This benefit is a bit more subjective than some of the other ones I've mentioned so far, but I think it's just as important. People's experiences will definitely vary based on where they go to school and the extent to which they participate in student life - in general, though, here are the ways you can expect to grow and develop on a personal level with a college education: 

  • Get exposure to diverse people and ideas . Meeting people with different backgrounds and perspectives results in greater open-mindedness and a more flexible worldview. One study showed that when people have BA degrees, they're more likely to believe that it's  “very important to try to understand the reasoning behind others’ opinions."
  • Meet long-term friends . You, of course, don’t have to be at college to make good friends. What’s special about a college environment, though, is that you’re living and working with hundreds or even thousands of people who are around your age, probably for the first and only time in your life. It’s sometimes more difficult to make friends as you get older - a college is a pretty golden opportunity to meet people.
  • Develop personal and professional interests. Many  students head off to school with no idea what they want to do with their lives. College gives you a chance to try out different fields, especially if you attend a school with a flexible curriculum.

Many schools (especially liberal arts colleges and universities) work to produce global citizens: well-rounded students who can be thoughtful and active participants in an increasingly globalized society. You can, of course, learn about things on your own, but college is really an ideal environment to do this - you have a structured learning environment, you're surrounded by intellectually curious peers, and you have access to experts in many fields. 

There’s a lot to learn out there besides what you’ve studied in high school, and  colleges offer courses on topics that you wouldn’t otherwise have access to . For example, you might want to explore world languages, niche humanities subjects, or specific and advanced STEM fields - all things that are difficult to study outside of a college campus. 

The thing I see as the biggest educational benefit to attending college is the access to professors, people who have dedicated their lives to research and teaching in a very specific field.  Access to these faculty members is especially helpful for students who are considering an advanced degree. 

When College May Not Be Worth It

If you have any desire to go to college, I strongly encourage you to consider it. Overall, I believe that a college degree comes with more benefits than drawbacks. Of course, there will be many exceptions and individual differences - here, I'll go over some situations where getting a college degree may not be worth it. 

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I t's OK (important, even) to consider whether college makes sense for you, even if you've always assumed that you would go to college no matter what.

If a Degree Won't Lead to Professional Success

College offers a lot of professional, personal, and intellectual benefits. Even if you’re not sure what you want to do after college, a degree will afford you some flexibility. But you don’t have to go to college in order to be successful - depending, of course, on what career options you’re considering ( budding entrepreneurs , for example, may benefit more from real-world experience than from a college education). Some people argue that you can be just as successful with self-directed learning as you can be with a college degree. 

If you know you can graduate from high school and immediately start working towards your chosen career path, college might not be the best choice for you. Alternatively,  if you’re interested in a career that requires trade or vocational school, it might be smarter to apply to those programs instead of applying to a four-year program . This way, you can work toward building professional experience earlier rather than later.

If You Can't Afford It

The total Cost of Attendance at private colleges can come to over $200,000. If you’re responsible for that entire cost and you’re not sure if you can recoup the investment post-graduation, a degree may not be worth it.

If the expense is preventing you from looking into a college education, however, there are some options you should consider before making a decision:

  • Not all schools charge $200,00 for a four-year degree. Many institutions are much less expensive (for example, public schools tend to offer subsidized tuition to state residents).
  • There are many federal financial aid programs available for students attending almost any college or university in the US, and you only need to submit one (free) application . Learn more about the Pell Grant program and Perkins loans .
  • If you're a high-achieving student, you might qualify for generous merit aid if you apply to particular schools. Learn more about colleges and universities that give great merit aid .
  • If you think you might qualify for need-based financial aid , you can seek out schools that provide generous funding for lower-income students. Read more about schools with top need-based financial aid  programs. 
  • You can apply for scholarship awards , which are great sources of education funding for many students. Learn more about finding and winning local awards , and check out the top scholarship programs for high school juniors and seniors . 

If money is the only thing holding you back from getting a degree, I urge you to check out these other funding options. You don’t have to be rich to go to college, and a degree doesn’t have to mean crippling expenses. To read more about paying for college, check out these guides: 

  • The four different kinds of financial aid 
  • How to pay for college: complete guide  
  • How to pay for college without your parents' help
  • How to pay for college without loans

If There Are Other Things You Want to Do First (or If You're Unsure)

College is a big commitment - if you want to pursue a degree full-time, you’ll be hitting the books for nine months out of the year. Y ou may want to do other things with your time after you graduate from high school before heading off to college,  like get professional experience, travel, or volunteer. 

The bottom line is that you can always postpone the college application process if you have other priorities or even if you want to take time to decide whether college is right for you. You don’t have to go to college right out of high school . 

Keep in mind that many schools allow you to defer acceptance . It might be easier to work through college applications when you have the support of a guidance counselor and when it's easy to ask teachers for letters of reference. Even if you decide to apply while you're in high school, it's possible to postpone attending the school of your choice for a year or two (or even forever, if you decide it's not right for you). 

Conclusion: Is College Worth It?

Overall, college is a pretty good investment - many students who pursue a bachelor's degree end up reaping the benefits, whether they're financial, professional, or personal. But many others pursue a degree without spending some serious time thinking about whether it's a smart choice. 

You may feel that you should go to college if you want to be successful. As I mentioned earlier in this post, there are many circumstances where a college degree doesn't exactly make professional, financial, or personal sense (at least not at this very moment). It's important that you know it's okay to postpone such a big decision if you remain unsure.

If you do decide to take time to pursue an alternative path, remember that it's important to use your time wisely (else you're subject to the same types of opportunity costs that I mentioned earlier in the post). Building professional experience or engaging in self-directed learning are definitely not easy alternatives to a college education - they're just different. 

Whatever you decide to do - good luck! 

What's Next?

One big part of the college application process is standardized testing. If you're researching whether college is a good choice for you, it may be helpful to learn more about whether these tests in any way predict future income . Some people even think that the ACT and the SAT have the power to predict success more broadly. 

If you're worried more about what the whole college application process will look like and you hope to plan around that, we've got you covered - check out our complete timeline for applying to college .

Want to improve your SAT score by 160 points or your ACT score by 4 points?   We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download them for free now:

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Francesca graduated magna cum laude from Harvard and scored in the 99th percentile on the SATs. She's worked with many students on SAT prep and college counseling, and loves helping students capitalize on their strengths.

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Is College Worth It: The Benefits of College Education

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Published: Jan 28, 2021

Words: 1396 | Pages: 3 | 7 min read

Why Is College Worth It? (Essay)

Works cited.

  • Archibald, R., & Feldman, D. (2006). Graduation Rates and Accountability: Regressional Discontinuity Estimates of the Impact of Merit Aid on College Persistence. Journal of Human Resources, 41(4), 669-700.
  • Bureau of Labor Statistics. (2021). Unemployment rates and earnings by educational attainment. U.S. Department of Labor. https://www.bls.gov/emp/chart-unemployment-earnings-education.htm
  • College Board. (2021). Trends in College Pricing 2021. https://research.collegeboard.org/pdf/trends-college-pricing-2021-full-report.pdf
  • Deil-Amen, R., & Rosenbaum, J. E. (2003). The unintended consequences of merit aid: The impact on college access and choice. Journal of Higher Education, 74(4), 365-391.
  • Deming, D. J., Goldin, C., & Katz, L. F. (2012). The value of postsecondary credentials in the labor market: An educational perspective. American Economic Review, 102(4), 463-468.
  • Federal Student Aid. (n.d.). FAFSA: Free Application for Federal Student Aid. U.S. Department of Education. https://studentaid.gov/h/apply-for-aid/fafsa
  • Finnie, R., & Mueller, R. E. (2019). The financial returns from post-secondary education: A literature review. Canadian Journal of Higher Education, 49(1), 22-44.
  • Hout, M. (2012). Social and economic returns to college education in the United States. Annual Review of Sociology, 38, 379-400.
  • Jackson, C. K., Johnson, R. C., & Persico, C. (2016). The effects of school spending on educational and economic outcomes: Evidence from school finance reforms. Quarterly Journal of Economics, 131(1), 157-218.
  • Perna, L. W. (2010). Understanding the working college student. ASHE Higher Education Report, 35(3), 1-131.

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