Are Colleges Worth The Price Of Admission Summary
Introduction Many students are afraid to attend college because of the ever rising cost of tuition. Of course, parents and teachers will still ask, “why are high school students so apprehensive about college?” They may understand that choosing a college and sending applications is a bit daunting, as well as choosing a major. However, unlike in their day and age, college prices have skyrocketed. As Andrew Hacker and Claudia Dreifus put it in their article “Are Colleges Worth the Price of Admission?”, “Tuition charges at both public and private colleges have more than doubled-in real dollars-compared with generations ago.” The ever rising costs of college, paired with the fact that the minimum wage could hardly be considered a living wage, puts fear in students. This brings us to our main point: is college really worth the debt? To add to the previous point, students may also wonder if colleges are really worth it. They are most likely going to be going into debt, after all. If colleges are charging such ungodly costs to attend, they must offer good programs, right? Sadly, Dreifus and Hacker believe that “colleges are taking on too many roles and doing none of them well” (180). Kevin Carey also agrees with this point. In his article “Why Do You Think They’re Called For-Profit
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Colleges?”, Carey talks about the debt involved in attending “for-profit” colleges, and, sadly, many colleges seem to be for-profit. As Carey puts it, these colleges “saddle students in unmanageable debt” (217). He argues that the degrees that these colleges give out are hardly worth the amount of money students pay to acquire said degrees. Carey believes that colleges are exploiting students as well as their degrees (220). To summarize Carey’s points in his own words, “...programs that, while technically legitimate, are so substandard that the distinction of legitimacy has no meaning” (217). Now, after all this unpleasant and frankly discouraging talk, Liz Addison offers us a ray of hope in her article “Two Years Are Better Than Four.” Addison discusses the hidden gems that are community colleges. Not only are they affordable to attend, they also accept anyone, and lay the groundwork for students just starting out. Community colleges offer a strong foundation for students who later decide they want to pursue a higher education, as well as students who do not wish to attend a university. For students who attend a community colleges with the intentions of later going to a university, they can use the degree they got at the community college to find a better paying job, and in the end, have more money to help pay for their college degree.
With that new hope in mind, Robin Wilson offers some advice as well. In her article “A Lifetime of College Debt? Not Likely”, Wilson discusses that fact that many students don’t consider that, in the grand scheme of things, some debt is not the end of the world. In fact, she encourages students to take out loans in order to attend college. As Wilson puts it, “the only thing worse than borrowing is not borrowing and not going to college at all” (260). She believes that a good education and a solid degree are priceless. In the end, after you have a job from the degree you got, paying off your student loan will be no different than paying utility bills every month.
Wilson uses a student, Jennifer M. Hole, as an example. Hole owed $20,000 dollars by the end of her education, but because of her degree, she was able to pay of the loan with no problems. In fact, she was still able to support her family and save money. Hole says, “deep down I’d always wanted [a master’s degree], but given my family’s background I didn’t think it was a possibility. Without the loans there’s no way I could have done it” (272). Looking at this, taking the student loans did not hinder Jennifer after she got her degree. In fact, she doesn’t regret taking out the loan at all.
Many students should take this mindset. They should consider what a bachelor’s or master’s degree could do for them. Sure, taking out student loans is terrifying, especially if they’re in large amounts, but in the end, they’re a surprisingly small deal. Considering the money you will be making after you get a job with your degree, you could be paying off your student loans just like any other monthly expense.
Major Debates and Commentary
Almost every college student, or soon to be college student, you talk to will most likely say that the debt that comes with attending a university is enough to make them second guess whether a degree is worth it. In 2012 it was found that one in three college graduates had jobs that only required a high school degree (College Education n.d.). However, in 2013 people discovered that the unemployment for college graduates was 3.6%, compared to the 7.5% of high school graduates (College Education n.d.). These statistics contradict each other, obviously. Despite the contradiction, they do a good job of showing the two main side of this “college and debt” argument. Some believe that attending college isn’t worth it at all, and that a person would be better off simply living off their high school degree as a plumber or landscaper. On the other hand, some believe that there is nothing more important than a college degree, and that once you have a degree the debt will pay itself off. There are also some sub groups of this debate, which this essay will do its best to touch on. One of the biggest voices in this debate would be the ones exclaiming that there really is no need to attend college. They believe that a college education is just another way our society perpetuates its standards of knowledge, and that the debt is not necessary. Mike Rose uses his mother as an example in his article “Blue-Collar Brilliance.” As Rose puts it, his mother, Rosie, “solved technical problems and human problems on the fly.” Rose explains that there was no need for her to attend college, as she already made a comfortable living at the restaurant she worked at (Rose 245). ProCon backs up Rose’s claim in their article College Education. They claim that out of the 30 fastest growing jobs between 2010 and 2020, 14 don’t require a college degree. Out of those 14 jobs, 5 don’t even require a high school degree. They later go on to list people who have found success even though they simply did not attend college, or dropped out. Said people include: Ellen Degeneres, Bill Gates, Steve Jobs, and Walt Disney (College Education n.d.). On top of this evidence, Kevin Carey states his opinion that college degrees just are not worth as much as people think. In his essay “Why Do You Think They’re Called For-Profit Colleges?”, he discusses how many colleges these days are scams. They are more concerned with paying the higher-ups, instead of focusing on the degrees that they give out, or as Carey himself puts it, “...programs that, while technically legitimate, are so substandard that the distinction of legitimacy has no meaning” (Carey 217). Andrew Hacker and Claudia Dreifus seem to back up his claims, albeit not in the same way. They believe that colleges just simply aren’t what they used to be, and while they don’t come right out and accuse said colleges of being scams, they do argue that colleges aren’t worrying about the main job of colleges; education. In their essay “Are Colleges Worth the Price of Admission?”, Dreifus and Hacker claim that “colleges are taking on too many roles and doing none of them well (Hacker and Dreifus 180).
That being said, others, such as Robin Wilson, believe that a college education is priceless. As stated before, she claims that once you have a degree, and a job related to that degree, any debt that piled up will seem small in the long run. Studies have also shown that college graduates attract higher paying employers to their areas; this has been shown to raise the wages of people without a high school diploma by 1.9% (College Education n.d.). This evidence suggests that having a college degree is overall helpful for a community. Not only that, but studies show that college graduates with a job relating to their degree make $30,000 more than a high school graduate, and the gap grows larger each year (How Much More Money Do College Grads Make? n.d.).
Some would argue that, yes, a college degree is a great thing to have, but why go into debt with a university when you can simply attend a community college? Not only are community colleges cheaper, but they let just about everyone in. As stated above, out of the 30 fastest growing jobs, 4 required an associates degree; a degree that most community colleges offer. Liz Addison describes community colleges as “America’s hidden public service gem.” Addison still believes that college is necessary, however, she does not believe the debt is necessary. That being said, she also understands that student may wish to further their education. In that sense, she explains that a community college is an excellent place to begin. Not only are they affordable, but the degree or certificate you acquire at one of these colleges will make paying for university all the easier (Addison 212).
In an article by NPR, they share some of Addison’s views, but they take a different angle when it comes to debt. They believe that, yes, some debt is all well and good, but within reason. If your degree is focusing on medicine, it would be find to take $10,000 dollars a year in student loans, since generally a person in that field will be making well over $40,000 a year. However, if a person is in arts, it sadly does not make sense for them to take out such monstrous loans as a jobs in the arts does not pay as well as a job in medicine. Their general tip for students looking to attend college is; do not take out more money in loans than the starting salary of the job your are studying for. A quote by Mark Kantrowitz, the man they interviewed, sums up NPR’s point quite well; “...ask if you would still pay for it at twice the price. Because by the time you’ve paid back that student loan, it’s probably going to cost you about $2.00 for every dollar you’ve borrowed.”
Of all the opinions on this paper, the only one that is shared is that of debt. All these people understand that college is expensive, and the prices are always rising. They understand that it is a daunting subject for high school students, or even adults wishing to make a career change. One can only hope that the debt that is related with college will subside in the years to come.
Areas of Further Inquiry As it may already be obvious, the subject of the cost of college and the debt it entails is a subject that is talked about a lot. The people involved in this debate have spoken about alternatives to college as well as why students shouldn’t be afraid to attend college. With the overarching subject of how to manage college debt, there has been a serious lack of how to lower the cost of college, which would in turn lower the debt that comes along with it. This is quite obvious, really. Yet, so many people overlook this point. It’s painfully obvious to many that the cost of college has gone up exponentially, so why not focus on lowering the costs instead of focusing on how to manage it?
Many would think that the cost of college would turn many students away, however, data seems to suggest otherwise.
In 2013 studies showed that 19.9 million people were enrolled in college, in comparison to 1990’s 13.5 million (College Education n.p.). Why is that? Well, with recent inflation, one can’t be too surprised. Though it is a wonder that people continue to attend college, when people like Kevin Carey seem to believe that the reason college costs so much is that because most universities are for-profit, and that the degrees that they give out are nothing more than scams. Dreifus and Hacker also seem to believe that most colleges just aren’t worth the money students
pay.
Hopefully, when this debate is finally resolved, there will be a reform to the college system. One that either makes the debt more manageable, or one that lowers the cost of college altogether. Perhaps after either of those are accomplished the quality of college will also get at least a little attention, as people like Dreifus, Hacker, and Carey seem to believe that, as stated above, college degrees aren’t worth the money students pay. In the end, the debt that comes with college is discouraging, and while focusing on management of said debt is increasingly important, the subject of lowering it should be given more attention.
Colleges?”, Carey talks about the debt involved in attending “for-profit” colleges, and, sadly, many colleges seem to be for-profit. As Carey puts it, these colleges “saddle students in unmanageable debt” (217). He argues that the degrees that these colleges give out are hardly worth the amount of money students pay to acquire said degrees. Carey believes that colleges are exploiting students as well as their degrees (220). To summarize Carey’s points in his own words, “...programs that, while technically legitimate, are so substandard that the distinction of legitimacy has no meaning” (217). Now, after all this unpleasant and frankly discouraging talk, Liz Addison offers us a ray of hope in her article “Two Years Are Better Than Four.” Addison discusses the hidden gems that are community colleges. Not only are they affordable to attend, they also accept anyone, and lay the groundwork for students just starting out. Community colleges offer a strong foundation for students who later decide they want to pursue a higher education, as well as students who do not wish to attend a university. For students who attend a community colleges with the intentions of later going to a university, they can use the degree they got at the community college to find a better paying job, and in the end, have more money to help pay for their college degree.
With that new hope in mind, Robin Wilson offers some advice as well. In her article “A Lifetime of College Debt? Not Likely”, Wilson discusses that fact that many students don’t consider that, in the grand scheme of things, some debt is not the end of the world. In fact, she encourages students to take out loans in order to attend college. As Wilson puts it, “the only thing worse than borrowing is not borrowing and not going to college at all” (260). She believes that a good education and a solid degree are priceless. In the end, after you have a job from the degree you got, paying off your student loan will be no different than paying utility bills every month.
Wilson uses a student, Jennifer M. Hole, as an example. Hole owed $20,000 dollars by the end of her education, but because of her degree, she was able to pay of the loan with no problems. In fact, she was still able to support her family and save money. Hole says, “deep down I’d always wanted [a master’s degree], but given my family’s background I didn’t think it was a possibility. Without the loans there’s no way I could have done it” (272). Looking at this, taking the student loans did not hinder Jennifer after she got her degree. In fact, she doesn’t regret taking out the loan at all.
Many students should take this mindset. They should consider what a bachelor’s or master’s degree could do for them. Sure, taking out student loans is terrifying, especially if they’re in large amounts, but in the end, they’re a surprisingly small deal. Considering the money you will be making after you get a job with your degree, you could be paying off your student loans just like any other monthly expense.
Major Debates and Commentary
Almost every college student, or soon to be college student, you talk to will most likely say that the debt that comes with attending a university is enough to make them second guess whether a degree is worth it. In 2012 it was found that one in three college graduates had jobs that only required a high school degree (College Education n.d.). However, in 2013 people discovered that the unemployment for college graduates was 3.6%, compared to the 7.5% of high school graduates (College Education n.d.). These statistics contradict each other, obviously. Despite the contradiction, they do a good job of showing the two main side of this “college and debt” argument. Some believe that attending college isn’t worth it at all, and that a person would be better off simply living off their high school degree as a plumber or landscaper. On the other hand, some believe that there is nothing more important than a college degree, and that once you have a degree the debt will pay itself off. There are also some sub groups of this debate, which this essay will do its best to touch on. One of the biggest voices in this debate would be the ones exclaiming that there really is no need to attend college. They believe that a college education is just another way our society perpetuates its standards of knowledge, and that the debt is not necessary. Mike Rose uses his mother as an example in his article “Blue-Collar Brilliance.” As Rose puts it, his mother, Rosie, “solved technical problems and human problems on the fly.” Rose explains that there was no need for her to attend college, as she already made a comfortable living at the restaurant she worked at (Rose 245). ProCon backs up Rose’s claim in their article College Education. They claim that out of the 30 fastest growing jobs between 2010 and 2020, 14 don’t require a college degree. Out of those 14 jobs, 5 don’t even require a high school degree. They later go on to list people who have found success even though they simply did not attend college, or dropped out. Said people include: Ellen Degeneres, Bill Gates, Steve Jobs, and Walt Disney (College Education n.d.). On top of this evidence, Kevin Carey states his opinion that college degrees just are not worth as much as people think. In his essay “Why Do You Think They’re Called For-Profit Colleges?”, he discusses how many colleges these days are scams. They are more concerned with paying the higher-ups, instead of focusing on the degrees that they give out, or as Carey himself puts it, “...programs that, while technically legitimate, are so substandard that the distinction of legitimacy has no meaning” (Carey 217). Andrew Hacker and Claudia Dreifus seem to back up his claims, albeit not in the same way. They believe that colleges just simply aren’t what they used to be, and while they don’t come right out and accuse said colleges of being scams, they do argue that colleges aren’t worrying about the main job of colleges; education. In their essay “Are Colleges Worth the Price of Admission?”, Dreifus and Hacker claim that “colleges are taking on too many roles and doing none of them well (Hacker and Dreifus 180).
That being said, others, such as Robin Wilson, believe that a college education is priceless. As stated before, she claims that once you have a degree, and a job related to that degree, any debt that piled up will seem small in the long run. Studies have also shown that college graduates attract higher paying employers to their areas; this has been shown to raise the wages of people without a high school diploma by 1.9% (College Education n.d.). This evidence suggests that having a college degree is overall helpful for a community. Not only that, but studies show that college graduates with a job relating to their degree make $30,000 more than a high school graduate, and the gap grows larger each year (How Much More Money Do College Grads Make? n.d.).
Some would argue that, yes, a college degree is a great thing to have, but why go into debt with a university when you can simply attend a community college? Not only are community colleges cheaper, but they let just about everyone in. As stated above, out of the 30 fastest growing jobs, 4 required an associates degree; a degree that most community colleges offer. Liz Addison describes community colleges as “America’s hidden public service gem.” Addison still believes that college is necessary, however, she does not believe the debt is necessary. That being said, she also understands that student may wish to further their education. In that sense, she explains that a community college is an excellent place to begin. Not only are they affordable, but the degree or certificate you acquire at one of these colleges will make paying for university all the easier (Addison 212).
In an article by NPR, they share some of Addison’s views, but they take a different angle when it comes to debt. They believe that, yes, some debt is all well and good, but within reason. If your degree is focusing on medicine, it would be find to take $10,000 dollars a year in student loans, since generally a person in that field will be making well over $40,000 a year. However, if a person is in arts, it sadly does not make sense for them to take out such monstrous loans as a jobs in the arts does not pay as well as a job in medicine. Their general tip for students looking to attend college is; do not take out more money in loans than the starting salary of the job your are studying for. A quote by Mark Kantrowitz, the man they interviewed, sums up NPR’s point quite well; “...ask if you would still pay for it at twice the price. Because by the time you’ve paid back that student loan, it’s probably going to cost you about $2.00 for every dollar you’ve borrowed.”
Of all the opinions on this paper, the only one that is shared is that of debt. All these people understand that college is expensive, and the prices are always rising. They understand that it is a daunting subject for high school students, or even adults wishing to make a career change. One can only hope that the debt that is related with college will subside in the years to come.
Areas of Further Inquiry As it may already be obvious, the subject of the cost of college and the debt it entails is a subject that is talked about a lot. The people involved in this debate have spoken about alternatives to college as well as why students shouldn’t be afraid to attend college. With the overarching subject of how to manage college debt, there has been a serious lack of how to lower the cost of college, which would in turn lower the debt that comes along with it. This is quite obvious, really. Yet, so many people overlook this point. It’s painfully obvious to many that the cost of college has gone up exponentially, so why not focus on lowering the costs instead of focusing on how to manage it?
Many would think that the cost of college would turn many students away, however, data seems to suggest otherwise.
In 2013 studies showed that 19.9 million people were enrolled in college, in comparison to 1990’s 13.5 million (College Education n.p.). Why is that? Well, with recent inflation, one can’t be too surprised. Though it is a wonder that people continue to attend college, when people like Kevin Carey seem to believe that the reason college costs so much is that because most universities are for-profit, and that the degrees that they give out are nothing more than scams. Dreifus and Hacker also seem to believe that most colleges just aren’t worth the money students
pay.
Hopefully, when this debate is finally resolved, there will be a reform to the college system. One that either makes the debt more manageable, or one that lowers the cost of college altogether. Perhaps after either of those are accomplished the quality of college will also get at least a little attention, as people like Dreifus, Hacker, and Carey seem to believe that, as stated above, college degrees aren’t worth the money students pay. In the end, the debt that comes with college is discouraging, and while focusing on management of said debt is increasingly important, the subject of lowering it should be given more attention.