Summary Report 1, Comparing If College Is Worth The Cost Or Not Worcester State Consumer Economics Essay

681 words - 3 pages

TJ Mulgrew
Consumer Economics
2/8/19
Summary Report 1: Cost and Benefits of College
One of the biggest questions in today’s economy with the rising price to attend college is will going to college be the smart thing to do? There are arguments both ways for this question, but the overwhelming statistics and evidence prove that even with the increase going to college is clearly worth it. In this paper I will attempt to prove, through data and statistics, that the benefits of going to college well outweigh the cost.
One of the biggest reasons if not the only reason to attend college is to get a better job out of college than you would have not attending college. A lot of people want to question, is the pay increase worth all the debt and time college incurs? According to the Pew Research Center after surveying 2,002 people, ages 25-32 with college degrees and without, people with bachelor’s degrees earn on average $17,500 more per year than people with only high school diplomas. On top of that people with bachelor’s degrees make on average $15,500 more than people with a 2year degree/some college. Pew Research Center also conducted a survey with the same people about unemployment rate and poverty rate. 3.8% of people with a bachelor’s degree were unemployed, absolutely miniscule compared to 12.2% of the people unemployed with just a high school diploma. As it pertains to poverty, 5.8% of these people with a college degree live in poverty versus 21.8% of people with only a high school diploma. These statistics are greatly different than 20 or 30 years ago where not going to college and just getting a job straight out of high school made more sense. As these statistics show in today’s economy it is much more vital to attend college than it is to not.
If the statistics about money and unemployment aren’t enough to tell you to go to college than the statistics on satisfaction and happiness in people’s jobs just might. According to the same study by Pew Research Center 86% of people with bachelor’s degrees have a career/career track job opposed...

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