As a millennial, I am constantly bombarded with news outlets exposing the cost of college now vs. 30 years ago. According to Yahoo Finance, tuition has jumped 3,009% in just 50 years! I was born in 1987 and the cost to attend a 4-year public college was $1,490. Now, just 32 years later, the cost is $10,230. The college system has turned into big business and COVID-19 has exposed it more than before. Is college still worth it?
The short answer is yes.
The average college graduate earns a salary that is over $30,000 more than an average worker with only a high school diploma, according to new research by the Federal Reserve Bank of New York. On average, the rate of return, or the net gain or loss on the college investment over a career, is 14 percent. So most families are still coming out firmly ahead on their investment in higher education, though rising college costs have slightly lowered the rate of return for today’s students.
When determining whether to go to college, the ability to get a better job was cited by nearly 85% of freshmen enrolled in baccalaureate programs as “very important,” according to the University of California—Los Angeles‘ The American Freshman: National Norms Fall 2017 survey, released this April. About 72% cited the ability to make more money. But in that same survey, about 76% of freshmen said gaining a general education and appreciation of ideas was a very important reason for enrollment.
To make sure that our students graduate within the 4 years (not 6 years) we offer an array of services that can guarantee that. We focus primarily on matching the students’ personalities with the job of their choice. If they’re unsure about a career path, we have a team that will work one-on-one to find the right fit.