...Cost and Benefits of Getting a College Education Abstract This paper is an analysis of pursuing college education, based on years 2004 to 2008. As a working professional, college education is one of the most important credentials needed in starting a career. Despite the limitations, a rational and ambitious individual would undoubtedly seek such a level of education. With the present economic conditions, the cost of getting a college degree is soaring high. Finances of the family are affected, not to mention the inflationary factor of prices and school fees. In this simple analysis, the costs of gaining a degree in college are identified with the provided assumptions below. With regards to the costs, the return or benefits are also given a high importance in determining the value of pursuing in college. Statement of the Problem This paper will focus on comparing the costs of getting a college education with the benefits it will earn within four years after graduation. Specifically, this study will answer the following questions (with 2004 as base year): 1. How much is the cost in today’s value of peso for pursuing a college education? - Based on a four-year undergraduate course 2. How much would I earn if I choose to work after graduating in high school and not pursue to college (forgone earnings or opportunity costs)? 3. Supposing this current year is 2004 and I have the lump sum amount of equal to the future cost of going to college, what would be its future value if I choose...
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...room, and board fee increase in public 4-year colleges in the United States (Tuition and Fees and Room and Board over Time). According to The Department of Education, about 40% of college students in the middle class achieved their bachelor's degree within 8 years. That is about 60% that dropped out because of financial issues, low grades, or illegal behavior. The cost of college education is rising, which is why it should be free. Students often cannot attend college because not everyone can qualify for federal help, the tuition and housing cost rising each year, many students having to pay their phone bills and be able to pay for other...
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...amateurism and further serve the mission of higher education… They concluded that it was not in the best interest of their universities to award athletic scholarships, and have remained steadfast even today” (Johnson). Of course, college basketball and football were not as popular back then as they are today, but over time, the NCAA “expanded into three divisions with a multitude of championship events on a yearly basis, and there are more than 1,300 member institutions that represent an estimated 400,000 student athletes who participate in sports, leading to the revenue the NCAA sees today” (Johnson). With the expansion, came the notion that college athletes should be remunerated for their hard work and many lawsuits targeting this exact...
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...to attend college and earning less upon graduation—trends that have led many observers to question whether a college education remains a good investment. However, an analysis of the economic returns to college since the 1970s demonstrates that the bene ts of both a bachelor’s degree and an associate’s degree still tend to outweigh the costs, with both degrees earning a return of about 15 percent over the past decade. e return has remained high in spite of rising tuition and falling earnings because the wages of those without a college degree have also been falling, keeping the college wage premium near an all-time high while reducing the opportunity cost of going to school. The sluggish labor market recovery from the Great Recession has refueled the debate about the value of a college degree. Although the unemployment rate of college-educated workers has remained well below average, there is mounting evidence that recent college graduates are struggling to nd good jobs.1 At the same time, college tuition has risen sharply, reaching record highs, and col- lege graduates are increasingly nding themselves saddled with debt from student loans used to nance their education. By the end of 2013, aggregate student loan debt in the United States exceeded $1 trillion, and more than 11 percent of student loan balances were either severely delinquent or already in default.2 With the costs of college rising and the bene ts in doubt, many are wondering whether earning a college degree still...
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...The big question everyone seems to be floating around, is getting a college education worth all your time and money? Since many college graduates had faced record levels of unemployment, it’s very ironic how they have a high degree yet cannot have a career like those without one. However, having a college education does offer us more than just a job, it gives us great experience, a broader mind set and a stronger capability. Because of the college graduates that do get a career much of them find a very high paying job or a successful career in the liberal art as well. For a successful college education, the general outcome for that would be to live happily ever after making a living easily in the career you studied and loved. The perks and benefits of having a college education and degree make you a first runner-up and puts you on a higher pedestal than someone who has no college education. Although many families in the U.S do not have the money to provide these students with the funding needed to have a college education. On the contrary, there are many opportunities for them to still go to college and receive a fundamental education....
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...Do The Benefits of College Still Outweigh the Cost? Graduating from college is one of the most beneficial, happiest, and life changing experience that an individual will encounter in life. College graduates expect to live a pretty decent life with their careers and their expected salary. The article Do the Benefits of College Still Outweigh the Costs?, gives a great outlook of the how much students are paying for their college education but earning less money after graduating. The issue that has been brought to great attention is if college is still a good investment for individuals who want to live comfortably. The article looks into the cost, benefits, and economic benefits of college education. In one of the graphs within the article they express the average annual wages by those who work with just their high school diploma, associate’s degree, and a bachelor’s degree as well. These measurements were graphed starting from 1970 till 2013. It will understandable to believe that a person who has their bachelor degree would be making well over the amount of a person working in a field with their high school diploma. Throughout the forty-three year span, the person with a college degree is only make nearly ten to twenty thousand more. With the amount of money that a person pays to get their college education their income does not seem as beneficial. Another interesting point found within the article is that the average wages over time for a person with a bachelor’s degree...
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...Introductionsy CECOS London College has been one of the leading tuition providers for language and professional train for the last ten years. Its project to get up its China branch in Shanghai, the biggest city and economical centre of China, would prove a good choice. The purpose of this essay is to assess the financial viability of the proposed project by financial benefit-cost analysis. Cost-benefit analysis is typically used by companies or government to evaluate the desirability of a given intervention. It is an analysis of the cost effectiveness of different alternatives in order to see whether the benefits outweigh the costs. The aim is to gauge the efficiency of the intervention relative to the status quo. The costs and benefits of the impacts of an intervention are evaluated in terms of the public's willingness to pay for them (benefits) or willingness to pay to avoid them (costs). The steps of financial benefit-cost analysis The financial benefit-cost analysis includes the following five steps: 1) Clearly define and set the objective's of the project, identify the Benefits 2) Generate alternatives that would meet the stated objective's 3) Identify the Cost (Time, Env impact, Stress est.) 4) Eliminate alternatives that do not fall within the constraints. 5) Compare Benefit to Cost associated The objective's of the project and identifies the benefits The objective's of the project 1) To create a service-base college whose goal is to exceed customer's expectations...
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...Should College Tuition be Free for all Students? I believe that most students today struggle to pay for college. Unless you are a 4.0 grade point average student with a complete scholarship to the university of your liking, you are subject to the same condition as the majority of college students that struggle to pay the tuition for a four year school or attend community college to transfer after two years. Despite the fact that I attend community college and call myself “financially stable” for the moment, but even with my mother’s income and with what I make myself, I am still not able to completely finance my way through college. I consider myself to be blessed as that does not even compare to what a student at a four year university has to pay for tuition; paying for tuition becomes even more burdensome if you are attending an out of state school or private university. Although financial aid tries to help students with their tuition with no expectation of being paid back, that money is generally insufficient in covering the majority of the debt. As a result, a “financially stable,” or lower status would still mean that you undertake debt that cannot be paid back in full for years to come. With that fact in mind, should college tuition be free for all students? In order to fully answer this question, I began exploring different articles that offered different opinions as to what should be done to resolve this issue. “Free College, We can afford it” by Katrina vanden...
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...encompasses a discussion concerning college and its perceived merits or demerits. To this end, the thesis will seek to explore the issue of whether its benefits outweigh its inherent costs. A narrative relating to college degrees postulates the necessity of the latter to have a good career. The narrative has been formulated and affirmed by the media, the business community, and the government. In a recent speech, President Obama blatantly stated that now more than ever, the college degree was a ticked into the middle class, a good job, and a good income. He goes on to say that the degree gifts the graduate an element of security that keeps them employable. The latter is a result of the perception that the degree creates. Potential employers view individuals with degrees as malleable and capable of acquiring new skill sets. On the business front, there is an upsurge of demand for skilled workers in recent years because of dramatic technological advance. Ergo there is an augmented demand for graduates who can carry out the tasks that a high-tech economy needs. The media has been used to highlight this upsurge and often unwittingly, create pressure on parents to send their children to college. While parents deal with all the information heralding college education as a crucial investment to make, they also appraise the information against the backdrop of college costs. In recent decades, the cost of higher learning has exploded. Numerous colleges charge an almost exorbitant fee...
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...Recently, students have raised many questions as college tuition continues to increase and jobs become harder to attain. Many individuals have been paying a vast amount of money to attend college, then upon graduation have come to earn less than spent. Thus, igniting the argument about the importance of the college degree and whether the financial benefit would be greater if one entered the labor market directly out of High School. The benefits of a degree holding individual still tend to outweigh the costs, “With degrees earning a return of about 15 percent over the past decade,” (Abel and Deitz). These returns have continued to be high despite the falling earnings and rising tuition, because the salary of the individuals with no university...
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...Rising cost of college education People who possess a degree have a better chance of finding successful careers. However, a college education has been getting increasingly more difficult by the sky-rocketing costs of college tuition. The authors of “Administrative costs in higher education: how fast are they really growing?” state that: “The College Board says the average tuition and fees at public four-year colleges and universities increased by 27 percent beyond the rate of inflation over the five years from the 2008-09 academic year to 2013-14. After adjusting for inflation, the cost of tuition more than tripled between 1973 and 2013” (Hedrick et al 124). The tuition cost now becomes a cause of considerable public concern because it is very high compared to how the economy has been and how wages and financial aid have not risen with the cost of tuition. With the cost of college rising, many have asked a question: Is a college education worth the cost? Anyway, it cannot be denied that a college education always remains an important investment for the future. Tuition is usually the first thing that comes to mind when planning for higher education. It is the largest portion of the bill when attending a college or university. Tuition is a term that refers to tuition, fees, and room and board charges per student. According to Robert Martin, the author of “Why tuition costs are rising so quickly?”, for the 2006–2007 school year, the average cost of tuition...
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...The cost of college has several different contributing factors. These factors consist of personal loans, relationships, part time/full time job, scholarships, and time management. All of these examples are major contributing factors to the cost of college. The personal loans are a factor because they show some of the true costs of college. Personal loans are the first step when going to college without money from other sources. These different sources can consist of parents, grandparents, scholarships and etc. These costs are some of the key things that contribute to the cost of college. The second factor that contributes to the cost of college is relationships. Relationships have numerous costs that play a role in the cost of college. These costs can consist of things like expenses for the other person, choosing where to go to college, choosing to take or disregard a scholarship to leave or stay with that person....
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...8/27/15 Should state colleges be free? Should College Tuition be Free for all Students? I believe that most students today struggle to pay for college. Unless you are a 4.0 grade point average student with a complete scholarship to the university of your liking, you are in the same condition as the majority of college students that struggle to pay the tuition for a four year school or attend community college to transfer after two years. Despite the fact that I attend ITT tech and call myself “financially stable” for the moment, but even with my mother’s income and with what I make myself, I am still not able to completely finance my way through college. I consider myself to be blessed as that does not even compare to what a student at a four year university has to pay for tuition; paying for tuition becomes even more burdensome if you are attending an out of state school or private university. Although financial aid tries to help students with their tuition with no expectation of being paid back, that money is generally insufficient in covering the majority of the debt. As a result, a “financially stable,” or lower status would still mean that you undertake debt that cannot be paid back in full for years to come. With that fact in mind, should college tuition be free for all students? In order to fully answer this question, I began exploring different articles that offered different opinions as to what should be done to resolve this issue. “Free College, We can afford it”...
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...Hossler and Bontrager (2015) state that the sociological approach focuses on the early stages of one's college journey and "emphasizes the influences of social and cultural capital" (p. 51). Thus, this theory highlights one's social context, such as their social class, community, and high school, as well as parental involvement and expectations. Throughout my first essay, my environment was a strong predisposition that contributed toward my expectation of attending college. Due to my parents' middle-class status, their cultural and social capital garnered them certain knowledge sets. My mother knew how to research for the best school districts and suburbs using the internet, as well as employ her social network of coworkers, college friends,...
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...The topic of going to college has taken up mass discussions in family households, including mine, and is even a national debate. Even though there are different viewpoints about college most of them have to do with why you should go to college. But why so much talk? Well, the “talk” is about if college is worth the financial debt that is ball and chained to it, or even the experience that one might go for, and while college does cost a lot and may not be for everyone, the benefits of college outweigh the concerns because college opens up more opportunities. Coming from a college prep school, I know that people are constantly being compared to each other and that all falls under the category of how much effort you put into becoming successful....
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