You Can’t Be Successful Without a College Degree. Right?

Have you ever wondered if college is really worth it?

No, I mean like, is it really worth it?

I suppose you have to look at college from a different perspective.

Why do people go to college or university?

Is the driving purpose to become educated and get a job, or is it for the social aspect?

The average in-state tuition in the United States is $10,940, and out-of-state tuition averages $28,240 per year for public institutions. Private colleges are far more expensive, averaging $39,400 for tuition alone. Factoring in fees, housing, and the cost of living, students and families spend anywhere from $30,000-$60,000 per year to obtain a college degree.

After everything is said and done, you could pay over $100,000 to get a bachelor’s degree.

Is it worth it?

As of this year (2024), the average salary in the United States is $63,795. This is the sum of all incomes divided by the number of workers. This does not tell the whole story; this statistic doesn’t consider whether or not they have a degree.

However, it's important to note that a college degree can significantly impact your earning potential. After more research, you’ll find that the average median salary for someone with a bachelor’s degree in 2024 is $77,636. Remember, this is an average, not an absolute.

Often, your pay depends upon the field in which you choose to work. For example, the average pay for a teacher in America is $69,544, whereas the average salary for an engineer is $101,752.

This pay discrepancy can also differ from state to state.

The average teacher in California earns $95,160 a year, but the average pay in West Virginia is $52,870 a year. These figures demonstrate the potential career benefits that a college degree can bring.

All this is to say that it is essential to consider why you're choosing a specific college or going to college at all. Meaning if you plan on going to a college that costs $50,000 a year to get a job that pays $45,000 a year, it probably isn’t worth it to go to that college.

If your main goal in college is to get a degree and get a high-paying job, then you must look at your education as an investment in yourself. What is the financial return for a college degree?

This is important to consider, especially if you are taking out loans to go to college. Anybody who knows anything about loans knows that a $30,000 loan really costs you almost $40,000 because of interest. So, it’s even more essential to do a cost analysis to ensure that the ends justify the means.

However, prospective students often don’t look at college this way. Yes, they’ll see that this college has a good business program or that college has a good engineering program, but they often use a different metric to grade the college they want to go to.

Social life.

What town or city the school is located in. What sports are popular in that region of the country. How well the sports teams for said college perform in a given season. The fraternity and/or the sororities that have chapters there.

Can you really put a monetary value on these aspects of life? How much would you be willing to pay to experience these things?

In that sense, it’s impossible to say whether or not college is indeed worth it. You could meet the love of your life, lifelong friends, or the business partner that helps you earn millions and millions of dollars. On the reverse, you could have a terrible college experience where you make very few friends, develop terrible habits, or decide to drop out of college altogether.

You can teach yourself almost anything, especially with all of the resources available now. Books upon books on any subject matter, down to even the most specific sub-field. Not to mention hours upon hours of lectures on podcasts and YouTube videos. However, even with all the knowledge and skills you may acquire teaching yourself, all businesses and institutions would require a degree from an accredited college or university.

So, in that sense, you have to go to college unless you plan on being an entrepreneur, which most people don’t. Whereas you can make social connections anywhere, not just in college, but there is something to be said about the culture and atmosphere of a college campus that encourages friendships.

This takes us back to the original question: Is college worth it? After considering the circumstances surrounding it, college or university is not “worth it” financially, but it is necessary in today's society. Although you can be very successful without attending a four-year college, society has prioritized the slip of paper you get after completing your coursework.

College won’t make you smart; hard work, dedication, and proper study habits will help grow your intellect more than anything.