However, theaverage cost of a college degreemore thandoubledin the 21st century.
That means return on investment for a diploma isnt quite what it used to be.
Thats led to more students asking themselves: Is college worth it?
Is College Worth It?
To many, it may not be.
People may skip a college degree for other reasons besides affordability.
Their desired career path may not require it or they want to enter the workforce sooner.
Or, college simply isnt a good fit.
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Career Opportunities
While college isnt necessary for a fruitful career, some jobs require it.
But there are plenty of well-paying careers that accept high school degrees, associate degrees and/or certifications.
Probably not as good as youd like.
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2.
Earnings Potential
Yes, college is an investment.
Earnings go up with each level of education.
However, that isnt a one-size-fits-all answer.
Diagnostic medical sonographers onlyneed an associate degreeto earn a median annual salary of more than $80,000.
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3.
Job Security
Stability is another reason to pursue higher education.
BLS data also shows a correlation between education level andunemployment rates.
This highlights that two-year degrees do have benefits.
The benefit of an associates degree is two-fold, Ladd notes.
But debt isnt the only option.
For students who qualify for scholarships, the cost can be less than for those who dont.
Some students are able to piece enough scholarships together to dramatically reduce tuition costs.
If you dont qualify for financial aid, there are other avenues.
But fewer know about options like theCollege-Level Examination Program.
Personal Fulfillment
For many, walking across that stage on graduation day is a source of pride.
Higher education takes discipline and commitment.
That, and potentially making lifelong friends.
Lifelong Career Support
Most colleges have alumni centers that work to help place graduates.
But that support continues long after youve earned your degree.
Being an alumni can also help you as youre searching for work on sites like LinkedIn.
Dr. Pestronk adds that even less traditional four-year colleges offer ongoing student support.
Higher education isnt something to take lightly.
That can help you decide whether its worth investing the time and money.
Stephanie Faris is a professional finance writer with more than a decade of experience.
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