The article Is a College Degree Worthless? By Jack Hough instantly caught my attention. I have often wondered about the value of a college degree. Education is valuable without a question, but a degree and an education are two separate entities in my opinion. This article does a great job looking into the value of a degree using examples and scenarios. The first and possibly the best scenario is a comparison of two people, Ernie and Bill. Ernie does not go to college and begins working right away. He starts off earning the standard wage of a high school graduate. Bill goes to college, racks up some debt and graduates. After graduation he begins a job earning the standard wage for a college degree. By the time the two are 65 years old. If Ernie saves 5% of his paycheck monthly he will have more money than bill. This seems unrealistic, but Ernie basically got a head start and Bill had to dig himself out of a hole after college. Bill may start out making more money, but he is four years behind as well as in debt to his degree.
I see from a financial perspective how a degree can be seen as a bad idea, but if a degree will get someone to the job they want then I feel that it is all worth it. Being happy in life is much more valuable than getting ahead financially at an early age. I personally would not be to where I am at today without a Bachelors and Master’s Degree. Regardless of what I learned or didn’t learn, it gave me the credentials I needed to get my foot in the door. I know I will be much happier at the end of the day doing something that I love than something that I hate regardless of how much I make. I think that is what it all comes down to. What do you want to do with your life? If you want to be a doctor, lawyer, or teacher, you will need a degree or it will simply not happen. If you finish high school and are unsure about your future plans than maybe college is not the best option at the time. Start working and find out what you want to do before you come in a mountain of debt without any direction.
I see from a financial perspective how a degree can be seen as a bad idea, but if a degree will get someone to the job they want then I feel that it is all worth it. Being happy in life is much more valuable than getting ahead financially at an early age. I personally would not be to where I am at today without a Bachelors and Master’s Degree. Regardless of what I learned or didn’t learn, it gave me the credentials I needed to get my foot in the door. I know I will be much happier at the end of the day doing something that I love than something that I hate regardless of how much I make. I think that is what it all comes down to. What do you want to do with your life? If you want to be a doctor, lawyer, or teacher, you will need a degree or it will simply not happen. If you finish high school and are unsure about your future plans than maybe college is not the best option at the time. Start working and find out what you want to do before you come in a mountain of debt without any direction.
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