Why People Aren't Sure If College Is Really Worth It

Once upon a time, it seemed like life had some pretty standard steps if you weren't sure what you wanted. You were born, you went to school, you went to college and you got a good enough job to handle your needs. From there, you could do whatever you wanted and as long as you didn't have a bad reputation chasing you, no door would stay closed to you for long.

Yet if it was ever really that simple, it certainly isn't now. While it's true that even 40 years ago, people weren't quite getting the jobs their degrees seemed to prepare them for, they also weren't paying anywhere near what it takes to get a degree now. 

By and large, parents and guidance counselors still expect us to go to college, and so many jobs seem to require a degree. But are they working off of outdated information? Will you end up wasting your time getting a degree you can't do anything with?

Let's have a look at the pros and cons of entering the college life and see if we can't clear up some of these questions.

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Let's get the obvious out of the way first. College is expensive.

It can depend on where you go but it's not uncommon for a four-year degree to cost up to $60,000 per year. These high prices force many students to take out loans with payments averaging about $400 per month.

This wouldn't be so bad if you were guaranteed a good job after graduation.

Of course, we all know by now that this often isn't how degrees work. In a study, fewer than two in five hiring managers thought recent graduates were prepared to get a job in their field of study, so many are stuck playing the waiting game.

In the meantime, there's a good chance they'll end up fighting for clerical jobs that once didn't require a degree or end up working in food service.

Even the president seemed to suggest that a degree isn't always that helpful.

Back in 2014, he said that "folks can make a lot more, potentially, with skilled manufacturing or the trades than they might with an art history degree." 

He ended up apologizing for this statement, but it's hard not to agree when you're staring down the barrel of high costs and an uncertain future.

When those two problems come together, they create debt.

The average student who graduated with a bachelor's degree in 2012 owes about $29,400 in student debt, but it's not unheard of for some to rack up over $50,000 in loans before they make it through. That debt also doesn't go away if you drop out or don't graduate.

The good news is students who make their payments will eventually have their debt forgiven. The bad news is it could take up to 20 years.

If if seems the answer is to simply not go to college, it's unfortunately not quite that simple.

Despite all these concerns, you still need a bachelor's degree before many employers will even talk to you.

For instance, even though only 19% of executive secretaries and executive assistants have a bachelor's degree, it's still required in 65% of postings for these positions. College graduates also tend to earn $17,500 more on a yearly basis than those with only a high school diploma.

Your success can often depend on the type of degree you have.

According to the PayScale research firm, engineering seemed to pay off the most since graduates can apparently expect to make between $500,000 and $1.1 million more than those who never went to college after 20 years.

It's commonly believed that arts and humanities degrees are a fast track to working at Starbucks, but that isn't necessarily the case. However, the opportunities that come with these degrees can get a lot more hit or miss.

For arts degrees, success seems to depend on where you are.

According to PayScale, an arts degree is more likely to pay off if it came from schools like Columbia or UC San Diego. An arts degree from Kentucky's Murray State University, on the other hand, was found to net graduates $147,000 less over 20 years than a high school graduate.

This likely has more to do with Kentucky's economy than any problems with Murray State itself, but it does show how much of a difference your location can make. 

Of course, President Obama could be right about skilled trades too. 

If you're built for it, this kind of work can be more reliable in ways that a four-year degree isn't. However, even if you decide that a four-year degree isn't worth it, it looks like some kind of post-secondary training can get you farther than just a high school diploma.

Don't forget to SHARE and help others avoid some serious post-secondary pitfalls.