For Students: Why Are We Here?
The National Center for Education reports in 2010-2011 students spent around $13,564 for tuition and room and board for public institutions. A total of $32,026 is spent for tuition and room and board for private institutions. This number had gradually gotten bigger. Students in 2018 paid around $17,795 for public education and $34,740 for private according to CollegeBoard.
With these numbers in mind, the average student leaves college with around $37,000 dollars in debt according to America’s Debt Help Organization.
Why do we spend this much money on education? I’ve broken it down and made a list of the reason’s students seek out education post-secondary.
- Financial Stability
We have all been told in our lives going to college and getting a college degree will increase our earnings significantly. According to the NACE Salary Survey, SHRM reports that students graduating in 2018 will make an average of $51,000 as a starting salary. This is opposed to around $24,000 for workers with a high school diploma.
- Job Security
Today, a college degree is most often pursued to make more money. However, statistics show college degrees not only create higher wages but a higher chance of obtaining a job. FASTWEB reports unemployment rates for college graduates with a bachelor’s degree is 2.8%. The unemployment rate for high school diploma recipients is almost doubled, at 5.1%.
- Benefits & Health Insurance
When working minimum wage, you aren’t often given benefits such as health insurance, dental insurance, retirement plans, and PTO. However, having a college degree can often get you into positions that have these opportunities.
- Growth, Education & Connections
Most often than not, students who come to universities want to grow as a person, develop their skills, and make long-lasting connections that will stick with them past their years as a college student.
As college students, it’s important to remember what our goals are and why we are pursuing them. It’s also important to keep the topic of job security in mind with the upcoming election. Our purpose in college varies, but ultimately, we have the same goal – to pass and to find a career.
“An investment in knowledge always pays the best interest.” – Benjamin Franklin
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