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Why Is Higher Education Still a Justifiable Investment in Today’s Economy?

justification for higher education

Against a backdrop of fast-changing technology and evolving job markets, the value of college is open for debate. Despite spiraling costs, the question remains: Is either a college degree still worth the money? There is no question that the answer is yes. A higher education matters for reasons beyond employment; it matters for personal development, financial security, and improving society. In this article, we will discuss why attending college remains a vital step to success in today’s age. – justification for higher education

Introduction

Labeling overnight replacements for workers in the publishing field as both high-impact and high-skilled would be an oversimplification. According to a study conducted by the Georgetown University Centre on Education and the Workforce, by the year 2020, 65% of all jobs in the US will require any form of college or university education. Just observing this number reflects the role college is playing in our new economy. But a college degree — or other advanced training — has many benefits beyond landing a job. Higher education provides people with the knowledge, skills and critical literacy they require — of an increasingly complex and interconnected world. It allows people to explore new things, it helps them develop as a person, and it can empower them to change their communities and the world.

Whether you are an abandoned child thinking about your life decisions, an adult worker looking to improve your skills, or someone who cares about the value of education, you are going to get a pretty good reason to go to college in this article. We’ll discuss the financial, emotional and social advantages of college and some of the frustrations and issues many individuals weigh around the process.

Financial Benefits of Higher Education

One of the best reasons to attend college is that higher schooling can earn you far more money. College can cost you a lot but the money you save afterward is evident.

Making Money and Whether to Attend College

Numerous studies have found a strong association between level of education attained and wealth. In 2021, the U.S. Bureau of Labor Statistics (BLS) found that workers with a bachelor’s degree earned an average of $1,334 and those with just a high school diploma earned $781 a week. That translates into a huge difference in annual income: bachelor’s degree holders earn around 71% more than high school graduates.

  Educational AttainmentMedian Weekly Earnings (2021)
Doctoral degree$1,923
Professional degree$1,909
Master’s degree$1,564
Bachelor’s degree$1,334
Associate’s degree$938
High school diploma$781
Less than a high school diploma$618

Source: U.S. Bureau of Labor Statistics

This difference in earnings tends to get bigger over time. Getting a college degree can help you get better-paying jobs in areas like banking, technology, healthcare, and engineering. For instance, someone with a bachelor’s degree in computer science can make over $100,000 a year, and someone with a master’s degree in business administration (MBA) can often get paid even more.

Increased job security and chances to move up

In 2023, in a world where finding a good job is truly difficult, having a college degree can make a world of difference when it comes to job stability or in general career outlook. In recessions, the unemployment rate for better-educated people tends to be lower. This cares them smartly attractive because they have skills and information which is of use in several areas.

Furthermore, college can boost your career advancement. Outdated qualifications: For leadership or growth jobs, far too many companies place a high regard on degrees compared to other qualifications. A degree proves you have a commitment to learning and provides you with a foundation of knowledge to build on. In certain fields, like healthcare and education, years in higher degrees are a requirement of sorts before getting certain jobs, or moving into leadership positions.

New ideas and entrepreneurship

While higher education prepares individuals for everyday occupations, it also provides them with the skills and knowledge to start their own entrepreneurship venture and succeed. College teaches you how to think critically, how to solve problems, how to be creative — all skills that you need in order to start up and run your own business.

Plus, new ideas often come from universities and schools. They provide students access to cutting-edge research, mentoring programs and resources to help them develop their business ideas. So many great businesspeople do attribute their success to something that occurred during their college years — Bill Gates (Microsoft) and Mark Zuckerberg (Facebook) come to mind.

 Personal and Social Benefits of Higher Education

There’s no denying that going to college will pay off financially, but there are lots of other benefits besides just a fatter pay cheque. College can help you become a better person, make you happier, and give you a greater sense of social responsibility.

What are the things that linger in the mind of the person?

College is not just about classes and tests, it is an life-event that changes your life and help you to become a better person. Those who go to college are coerced to think critically, develop innovative solutions to problems, and voice their thoughts coherently. They learn about countries and ideas and points of view that expand their minds and challenge what they think they know.

Students also learn valuable “soft skills” — how to work as a team, lead, manage their time — through homework, study projects, and after-school events. They learn to cope with new experiences and challenges, becoming more self-sufficient. These skills are not just essential for performing in the office, they’re also critical to navigating through life.

Better health and well-being

The association between a higher level of schooling and better health outcomes has been well documented in studies. They compare with people who have more education, who tend to live longer, are at a lower risk for chronic diseases and have better mental health, studies show. There are a number of possible explanations for this:

  • Improved health literacy: The more educated an individual is, the more health information they are able to understand and make informed choices about their health.
  • Improved access to health care: College translates into higher-paying jobs, which often provide health insurance.
  •  Lifestyle choices that are better for you: Educated people are more likely to do good things like exercise and not smoke, studies have shown.
  • Stronger social support networks: College helps you make friends, which is super important for your mental and emotional health.

Social responsibility [and partaking in politics]

Higher education is the most significant factor in motivating people to become socially and politically involved. Colleges and universities provide students with a space in which to engage with real social issues, navigate their beliefs and understand the importance of being active in their communities.

People who have attended school are more likely to vote, volunteer in their communities and advocate for political and social causes. They know how to think critically, and they have the knowledge to analyze complex issues and work for meaningful change. A number of cases throughout history demonstrate how college graduates helped lead movements for progress, equality and social justice.

Addressing Concerns and Challenges

College has some advantages, but we should recognize the concerns and issues that potential students can face as well. Let us address some of the most common issues head on.

How Much Does College Cost? Is It Worth the Money?

In any event, there’s no denying that college costs have been rising steadily. Many graduates have a lot of student loan debt, leading people to question the value of college. But we need to consider those cash rewards over time.

As we’ve discussed, college graduates earn significantly more over their lifetimes than do those who don’t graduate from college. The wait to pay off college loans may take time, but you can save up in the long run with the higher wages.

Apart from all of that, there are ways to reduce the price of college. Financial aid that can help lessen the financial burden includes grants, scholarships and work-study programs. We should learn all we can about these options and deploy every tool available.

How to Reduce College Costs:

  • • Grants and scholarships. There are plenty of awards available, based on academics, need and a multitude of criteria.
  • Research public and private student loans: Compare interest rates and terms of repayment.
  • Consider the community college route for your first two years: This can cut the cost of your education significantly.
  • Get paid to work part-time jobs: Working part-time jobs when you are studying can bring money to you for the shells.

In conclusion

The point is, higher education is extremely essential in the age we live in today. Now, as college students are complaining about the cost of college and criticism toward how education is changing, I have to say that the pros outweigh the cons. A college degree or other advanced training can lead to earning more money, having more job opportunities, and having more opportunities to grow personally and professionally.

Besides the benefits of cash, college provides individuals the skills that make them critical thinkers, problem creators and engaged citizens. It develops individuals, it improves their health and wellness, and it equips them to change the world for the better.

There is a saying that you should invest in your education, and that is very true if you plan on achieving something worthwhile in the future. Information and skills seeking is a lifelong thing that will pay dividends in huge ways, whether it’s at a standard four-year university, an internet school, or job training.

So, jump! Explore schools available to you, pursue your interests, and fulfil your potential. Everyone is excited to hear what you’ve got to say.

References:- justification for higher education

  • Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, website
  • Carnevale, A. P., Smith, N., & Strohl, J. (2013). Recovery: Job growth and education requirements through 2020. Georgetown University Center on Education and the Workforce.
  • National Center for Education Statistics. (n.d.). website
  • The College Board. (n.d.). website

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