ic S/general/checkmark circled Thanks for subscribing! Be on the lookout for our next newsletter.
ic S/general/checkmark circled
Saved to My Favorites. View My Favorites
Articles / Applying to College / Is A College Degree Worth the Cost of Tuition?

Is A College Degree Worth the Cost of Tuition?

Rob Franek
Written by Rob Franek | Nov. 15, 2018
Is A College Degree Worth the Cost of Tuition?
Adobe Stock

You're sure to be flooded with plenty of emotions during your college application process. Don't worry — this is normal. One such source of apprehension you might encounter is the concern that college might not even be worth all the trouble you're putting yourself through to get in the door, let alone the cost of tuition. So is a college degree really worth all the costs involved?

This is a question many students ask while determining where they should apply, as well as when figuring out how to pay for their chosen degree. The cost of a four-year degree has been increasing faster than inflation for over 30 years. Ninety-eight percent of participants in our 2017 College Hopes & Worries survey reported that financial aid would be necessary to pay for college at that time. At many institutions, financial aid includes loans, and so graduates often enter an uncertain job market already loaded with debt. With that in mind, students often reach the question: Is college really the path to professional success and financial stability?


Check the Facts

As someone who has worked in and around college admissions for over 20 years, I may be a little biased. However, this area of work has given me the chance to see firsthand how young people use the tools and experiences they acquire in colleges and universities to achieve their personal and professional goals. So while my answer is, of course, an emphatic “yes!" there are some pieces of data to confirm my anecdotal observations:

- In 2015, adults with bachelor's degrees saw significantly higher median earnings than those with only a high school diploma. The median weekly earnings of persons age 25 and over with a bachelor's degree totaled $1,137 while those for individuals with only a high school diploma came in at $678.*

- Earnings aside, the unemployment rate between those with a bachelor's degree and those without was also drastically different, with only a rate of 2.8 percent unemployment for graduates with a bachelor's degree in comparison to one of 5.4 percent for those who didn't seek a degree outside of high school.*

These are all merely quantifiable gains that come from a college education, but there are many, many valuable experiences that you also simply won't have the chance to get anywhere other than on a college campus or as a direct result of your college experience. For a deep dive into where these other experiences can be found and how, I've compiled Colleges That Create Futures, a book focusing on schools that help launch careers by offering students opportunities outside of the classroom. Books and resources like this can be extremely helpful in choosing your best fit school so you can find the exact college experience you want.

So with all the stress that can come with the college application process, don't get bogged down with the added worry that your investment won't pay off — there is statistical evidence that it will. Instead, focus on finding the college that you feel best fits your needs and desires for your years after that high school diploma comes your way. Doing that will ensure that your experience will be worth much more than the price tag on tuition.

*Source: US Bureau of Labor Statistics

Written by

Rob Franek

Rob Franek

College Admissions and Test Prep Expert

More on Applying to College

See all
typing at computer- karolina-grabowska-6958506-resized

Authentic Voice in College Essays

That’s why you want to use your authentic voice when writing any college essay.

So what’s the problem? A student has shared an ess…

college-interview

College Interview Prep Tips: Brainstorm, Research, Analyze, Generalize

I recently visited Washington University in Saint Louis and was lucky enough to set up an interview. By speaking with peers of mi…

campus gates

Academic Index Scores: Why They Matter and How They're Calculated

Note: Click here for 10 Summer Programs You Can Still Apply For or keep reading to learn more about academic index scores.

8 Podcasts for Students Going Through the Admissions Process

7 Podcasts for Students Going Through the Admissions Process

Podcasts can offer a wealth of information to busy students, particularly when it comes to the college admissions process. We…

pexels-yan-krukau-8197544

Avoid College Application Regrets: Tips For Getting It Right the First Time

Decision Day occurs each year on May 1st and is the deadline for students to inform the college of their choice of their intent t…

Get a student loan that goes beyond tuition.

Ascent offers cosigned and non-cosigned student loans with exclusive benefits that set students up for success.

Explore Now!
Find Your Scholarship

Want to find money for school that doesn’t need to be paid back? Access insights and advice on how to search and apply for scholarships!

Search for Scholarship