Why College Education Is Still Valuable Both Figuratively And Literally

 

Education has been considered as one of the main pillars of democracy and citizenship in our nation, which paved the way social mobility as well as national prosperity. The fact is higher education not only opens minds, it also opens doors. However, currently high school students and their parents are now questioning the value of education. Do you think it is still worth to invest in a college education? The answer is an obvious “yes” as a college degree certainly pays off in terms of return on investment.

College education is valuable

A number of studies and data reveal that there are excellent economic benefits of a 4 year college education. During their lifetime, graduates who pass out from colleges usually earn around 60 per cent higher that those who skip college education. This can amount to more than 1 million dollars. Finishing college can create a greater impact on young women in terms of their earning power. If you are a female college graduate with a bachelor’s degree between the ages 25 and 34 years, then expect to earn 70 per cent more than if you had only finished your high school diploma. 

Studies also found that college graduates usually lead better and more active lives. They tend to vote and volunteer more often with a higher probability of owning a home. College graduates are often healthier and have less probability of being a smoker by 17 percentage points. Moreover, their children also have higher probability of going to college as well. Higher education motivates individuals to be more engaged as citizens and live longer and healthier lives. These are undoubtedly some great reasons to study and earn a college degree.

College offers many benefits

However, there are many other benefits of going to college that are difficult to measure, but are equally important and add value to your life. Let's take look....

It can take you to new heights

Higher education is often a passport to exploring your curiosity and new ways of thinking. You can learn new languages, learn about new cultures, learn about topics that interest you and even understand yourself differently.

It enables you to meet new people

College students usually learn by communicating and interacting with various

types of people, whether it is inside the classroom or outside. You can discuss various topics with your teachers or fellow students. You can even join various groups and communities that share similar interests. This will help you understand a wide array of viewpoints and engaging with different people.

It will teach you the value of slowing down

In this digital age, speed and connectivity have gained exceptional importance. However, in the rush to communicate quicker, we forget to think clearly as we strive to maintain pace with our devices. College education teaches you the virtue and importance of slowing down, think through by processing information and using insight for better understanding. It encourages critical engagement, reasonable skepticism and the desire to educate yourself.

The bottom line

In the ways mentioned above and many others, the education provided by colleges and universities empowers students to explore, understand and view themselves differently, offering them the ability, space and authority to imagine various novel and innovative possibilities.

What are your thoughts on college education? Feel free to let us know by adding your comments below.

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How Rich Parents Can Afford Poor Students’ College Education

Are you getting prepped for college? But are you ready to face the university financing problem? Nowadays there seems to a buzz about the vanishing middle class and this is depicted clearly when our kids go to college and we have to pay for it.

Apparently most parents now feel that they are too rich for taking financial aid and too poor for paying for a college degree. Numerous families throughout the nation are facing this problem right now. This scenario has been created as a result of several issues like rising tuition fees, complicated financial aid calculations, amounts of financial grant available, stricter regulations which increase the financial burden on the parents for paying college fees, even if they cannot afford it. This gap is eventually affecting our students and their scope for pursuing higher education.

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Are You Too Poor For Paying For College?

 

I am sure all parents become excited and happy when their kids get accepted to a prestigious college and pursue their academic dreams. But when the parents realise how much money they will have to shell out for the degree, the excitement quickly turns into concern. Did it happen to you? Richard Morais faced a similar situation when his daughter got accepted to the Johns Hopkins University. Although the family was ecstatic initially, but when the admissions packet arrived with the financial aid award and the cost of attendance, the mood at the Morais house changed. Pursuing a degree at Johns Hopkins University would cost the family $54,470, which included room and board, in just 1 year. 

As the total financial aid package was merely $6,000, Morais would need to $48,470, or his daughter would need to take student loans. What can a normal family do? Paying $48,000 for college is undoubtedly a real challenge for any household. If his daughter took a student loan, then she would be burdened with almost $200,000 debt after her graduation, which is unacceptable. This is why most families in the US feel too poor to pay for college.

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Are You Too Rich For Taking Financial Aid?

 

Conversely, several families feel they are too rich to accept financial grant. Generally your financial aid depends on the Free Application For Federal Student Aid (FAFSA), which is eventually utilised to determine the Expected Family Contribution. This is mainly what the government thinks about how much your family will be able to pay for college education.

This helps educational institutes to calculate the amount of need-based financial aid that a student requires and should receive. However there is a problem with this calculation and formula; it does not consider the family expenses, requirement for saving for your retirement, and the costs of education for other children. 

Hence, even though the government may believe that you can afford to pay thousands of dollars for your child’s college education, in reality your family may not be able to pay that much. This is why most families in the US are thought to be too wealthy for financial assistance.

What Can Parents Do?

 

If you wish to avoid getting trapped in this scenario, then you need to take some steps immediately. You can start by saving for college in an education savings account. The FAFSA calculations treat these savings amounts differently. Hence you can get higher need-based financial aid.

Moreover, you can also apply for financial assistance, which are not need-based, like grants and scholarships. Thus by beginning early and by applying for various grants, you can accumulate a good fund for college.

What do you think about college fees and financial aids? Are you too poor for college? Or are you too rich for financial support? Let us now. Share your thoughts by commenting below.

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