Is an American College Education Still Worth It - Assignment Example

Jianxiong Sun (Jacob) wr121 Summer July 17, Is An American College Education Still ‘Worth It’? One of the realities of the past several decades is that society has come to place an increasing level of emphasis upon the importance of education. Whereas it has been understood for decades that education is an integral component of the overall level of success that a person might hope to experience during their lifetime, the necessity of each and every individual striving for a college degree has been a more and more defining aspects of the drive for education and achievement. However, the fact of the matter is that not every individual in society wants to go to college or would greatly benefit from what a college degree might offer them. Although this advice seems as counter intuitive, the following discussion will provide the reader with some of the reasons behind why this student feels this way. The following discussion will present some of the core arguments against the current system of higher education and the need for the student to engage with it. Further a counterargument will be presented and followed by a reassertion of the main points that have been discussed. Evidence of this can be seen with regard to the fact that an American college education is not a good investment for all of the modern day college students; due in part to the fact it cannot guarantee the graduates will engage in some of highest paying jobs as past several decades. “As college students head back to the classroom this semester, a harsh reality confronts them - the rewards for the time, energy, and money that young people put into college are less than they were a decade ago”(Shierholz 1). The young people must be understood that not every job within the economy requires a college degree. Although this particular statement has oftentimes been misinterpreted as something of an elitist statement, the fact of the matter is that some of highest paying jobs do not require an individual to be college-educated. For instance, a large percentage of individuals that it started their own multimillion or billion dollar companies did not have a formal college education; for instance Steve Jobs or Bill Gates. Additionally, some of the more technical jobs that require a great deal of subject matter expertise are oftentimes learned as a result of ongoing education and do not necessarily require a formal college education either. Further evidence for this is with regard to the fact that college is not a good investment because it generates a unreasonable debt burden that so many college graduates are facing. "So its important to dissect the anti-college argument, piece by piece. It obviously starts with money. Tuition numbers can be eye-popping, and student debt has increased significant"(Leonhardt 4). As compared to several decades ago, the average graduate is likely to experience a debt burden of well over $80,000. Although it is true that the average salary in the United States hovers at around $45,000, the expectation that a new graduate can quickly gain employment in an increasingly difficult job market and begin paying off this debt places an unrealistic expectation upon the financial realities that face so many graduates. Said Michael Roth, “What does a liberal arts education have to do with the harsh realities that students face after they graduate” (Roth 2)? As such, an individual that does not wish to become indebted for a period of 10 or more years after graduation may very well way the costs and benefits of college education to come to the conclusion that they would be better served, as well as their families, by engaging in a career that does not require saddling themselves with such a massive levels of student debt. In the long run, economic analysis has proven that individuals who do not have student debt to pay off oftentimes with a higher quality of life. This is a noted great from the way in which a college education has previously been understood to benefit the individual irrespective of the costs associated with it. By means of contrast and comparison, many individuals put forward the understanding that a college degree can help a person to earn more over their lifetime. While this is indeed true, these statistics oftentimes do not count the student loan repayment and the interest that these necessarily have. As such, if a person were to factor these considerations into the equation that has been referenced, it is doubtful that the result would be nearly as positive as has thus far been reflected. Additionally, the most significant reason why an American college education is not a good investment for all of the modern day college students, because it has much pressure to gain a college degree creates a system in which many of the students who are in college have little to no interest with regard to the information that is being presented. Ben Wieder notes that, “College has just become a default activity” (Wieder 8). Beyond merely wasting the time and money of the individual in question, such a situation creates an added drawback for those students who do wish to gain something from the college experience. As such, the system that has existed over the past several years has created a much less efficient and engaging higher education system as a result of the fact that there are many individuals within it have little to no interest in the benefits that it can provide them. The Pew Social & Demographic Trend noted that “Just under half of the public views the main purpose of a college education is to teach work-related skills and knowledge” (Pew Social & Demographic Trends 5). Although encouraging students to strive for more and holding education as a potential for them to benefit their own lives is always a positive step, higher education cannot be understood as the be all and end all for each and every student. A counterargument to this is that there are many still indicate that an American college education is a good investment for every modern day college students, because it is useful and beneficial for the individual in the long run. Such individuals indicate that a college degree, regardless of the major, teaches critical thinking skills and helps to educate the person; something that cannot be under-appreciated within an increasingly technical world in which a broad variety of different skill sets are required. Nevertheless, the overall amount of money that a college degree currently costs is still viewed by these individuals as a necessary evil towards bettering one’s life and achieving a higher level of overall success in the future. However, “Sending more young Americans to college is not a panacea,” says David Autor, an M.I.T. economist who studies the labor market (Leonhardt 2). Further skeptics like to point to the reality that, “The income gap is not rising as fast as it once was” (Leonhardt 7). A reassertion to the points that have been discussed above is that an American college education is not a good investment for every modern day college students, because it not only has the financial drawbacks, but also cannot bring as much benefits as past several decades any more in various aspects. It is the hope of this author that the reader has come to develop a more nuanced understanding of the “need” for a college education. Far from promoting an elitist point of view, the underlying idea that should be had is one that places the costs and benefits of the college education as compared to other types of training and education. A quick review of the current economy reveals the fact that there is a great need for renewed levels of industrial production. Without basic industry, the rate and extent to which the economy can continue to grow and develop will be stunted. Whereas there are only so many office jobs that are concentric upon a service economy, there are a plethora of jobs that are actively seeking individuals that have experience with “making” things. If the US economy is to continue to grow and develop, there will be a need for such individuals in the workforce. As such, as the demand increases, salaries will increase alongside this demand; making the attraction of a college degree somewhat less than it would have been previously. Additionally, as has been referenced, the tradeoffs between debt and the ability to begin work shortly after secondary education serves as a further stimulus for reconsidering whether each and every individual in society should indeed seek after a college degree. Works Cited Shierholz, Heidi. “New College Grads Losing Ground on Wages.” Economic Policy Institute. Economic Policy Institute, 31 Aug. 2011. Web. 20 Dec. 2011. Leonhardt, David. “Even for Cashiers, College Pays Off.” New York Times. New York Times, 25 June 2011. Web. 20 Dec. 2011. Roth, Michael. “What’s a Liberal Arts Education Good For?” Huffington Post. The Huffington Post.com, 1 Dec. 2008. Web. 20 Dec. 2011. Wieder, Ben. “Theil Fellowship Pays 24 Talented Students $100,000 Not to Attend College.” The Chronicles of Higher Education. The Chronicles of Higher Education, 25 May 2011. Web. 20 Dec. 2011. Pew Social & Demographic Trends. “Executive Summary.” Is College Worth It? Pew Research Center, 15 May 2011. Web. 20 Dec. 2011. Read More