Getting a college degree is expensive for a lot of people. But for many, the long-term advantages of a college degree outweigh its upfront costs. Higher education can be considered as a ticket to better and higher-paying jobs or setting up your own business. A high school student who wants to get the most out of their university education, for example, should consider college counseling. An interview with an admissions counselor can help students get into a college program that will be beneficial to them in the years to come.
The Cost of College Education
There is a lot of talk about the high costs of getting a degree. In 2018, the average annual tuition in a private college was $34,740. These costs can easily reach $60,000 per year for those studying in private universities if the cost of transportation, board and lodging is also factored in.
In contrast, tuition in public universities for in-state students averaged at $9,970, and out-of-state students averaged at $25,620. With transportation, board and lodging, the costs for an in-state public can reach slightly more than $20,000, while those from out-of-state can expect to pay more than $36,000.
To finance these costs, the family has to pitch in and help with the tuition and expenses. Usually, there’s a college fund that the parents set up in advance of the child attending college. There are some students who are granted scholarships, both academic and in sports. Finally, the students can apply for student loans. After college, the graduates pay off student loans while working.
College counseling can help the student in choosing the right degree and career to pursue. Among other benefits, this allows them to enjoy learning about the field which they are interested in. The students would have insights on the career opportunities for their college course. This is important in the long term as it opens up more possibilities of a stable, comfortable future.
Expect a Return on Investment
Most college graduates earn more than those who did not attend college. Of course, there are outliers, like Richard Branson, Bill Gates, Steve Jobs and Mark Zuckerberg. But even taking their earnings into consideration, the average earnings of adults with only high school diplomas are much less than those who attended and finished college. Additionally, there is a higher unemployment rate among those who do not have a college degree. Studies have shown that the higher the educational level, the lower the unemployment rate.
There is an income gap between college graduates and high school graduates amounting to $17,500. A separate study also found out that on average, college graduates earn $1 million more than high school graduates during their career. A college education enables a person to get a job faster. It also makes the person more likely to get promoted and earn more money.
Going to college is not just about choosing a university and going through the years to finish a degree. Choosing the right course for the individual is important to shape the kind of future and life they would have during college and after. After all, it’s easier to finish a course that you like. In the same manner, it is easier to pursue a career in that field and genuinely enjoy it.