Is College A Scam

Is College A Scam Or Worth It?

Want a better life? You should go to college! For years this has been society’s viewpoint on college and the opportunities it provides graduates. The youth are encouraged to go to college so they can better their lives.

This doesn’t just apply to the US as communities all over the world have this same perception of college. People who’re unable to go to college in some places are seen as possible failures in life and little is expected of them.

Good luck to you finding a good job without a college degree or above qualification. With little understanding of financial literacy, parents encourage their children to go to college especially since college loans are readily available.

With many advantages and disadvantages, it’s no wonder this topic is argued in many academic settings. This article will take a look at the reasons behind these arguments and provide a conclusive answer to this question.

Why College Is A Scam

Although societal expectation and impression of college qualification, has dropped in the past few decades, most of the older generation still consider it the path to success. Students are expected to study, go to college and then land a high-paying job right after college.

Unfortunately, this isn’t exactly the case in our modern society. Jobs aren’t readily available like they were in those days and the cost of education has also skyrocketed in our generation.

Let’s take a look at the reasons why some consider college education to be a form of scam.

College Education Has Become Expensive

The general perception of our communities is the relevance of education with little consideration of cost. This is because loans are readily available to aid students without the means to finance their college education.

The thinking behind this action is simple. Go and take as much student loan as you need for your college education and pay it back when you find and start working. Unfortunately, this has led to graduates sometimes spending decades of their lives paying off student loans.

Even college books that were affordable in the past have become expensive which subsequently led to the success of platforms like Chegg.

Education was cheaper in the times of our grandparents and parents. In 1963, the cost of a 4-year-degree was $5,144. We can only dream of paying this amount for a full four years of college education.

This same degree in 1989 cost an average of $52,892 for the 4-year-degree. For the academic year 2021-2022, the average cost for the same degree for out-of-state students at public colleges was $22,698. Keep in mind this was only for one academic year and for public college.

This price tag is considerably higher in the case of a private or elite college. For the 2020-2021 academic year, tuition for private colleges costs $36,801 per year while elite colleges like Princeton University in New Jersey advertised a price tag of $53,890 for the same academic year.

These prices make college education a huge investment worth double-thinking for most people. Is it worth it spending this amount you don’t have on a college degree simply to work the rest of your life to pay it off? That’s the question to consider before making this decision.

Doesn’t Guarantee Success

While in the time of our parents and grandparents, a college education meant you were positioned for success, this isn’t the case in our modern society. Graduating from college in those days meant you could land a job easily and corporations would even be fighting for over some students.

Unfortunately, things are different now as even some of the highly recognized leaders of industries are college dropouts or had no college education at all. With access to information at our fingertips, people are able to learn anything in this information age without the need to spend exorbitant amounts on a college degree.

Less Expensive Options

With the growth of distance learning, various educational institutions and organizations are now providing tertiary education remotely at considerable prices. Students looking to leverage these options no longer need to spend a fortune to successfully attain a qualification.

Free online courses and training programs are readily available on YouTube and other membership platforms for students. People don’t need to go to school to learn something as the information is now readily available for consumption with little effort.

Doesn’t Guarantee A Job

The general perception about college education is that once you acquire a college degree, you will get a good job. Gone are the days when college graduates could have their picks of jobs.

College graduates are now struggling to find jobs in our modern communities. Imagine putting in the work to study and willing plunging yourself into debt in order to obtain a degree, only to find no opportunities on graduation.

So, how’s it possible that college graduates can’t find jobs. Well, the increasing percentage of college graduates has resulted in the saturation of some professions. Additionally, the median earnings of recent graduates are lower than they were in 1990.

Why College Is Not A Scam

Now that we’ve taken a look at why some consider college a scam, it’s time to take a look at the arguments for college.

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Networking Opportunities

Going to college is a good way to meet new people with similar interests. With most of these institutions open to students across the globe, a college environment becomes a great place to meet and connect with individuals across the globe.

Forming partnerships, sharing ideas, and helping each other identify opportunities to leverage your academic knowledge can help catapult the future professions of individuals and open opportunities they would otherwise not have identified.

Human beings are social creatures and colleges present opportunities to even make lifelong friends.

Increased Marketability

While some professions are becoming increasingly saturated, new opportunities and industries are springing up making people with the requisite skills essential. Most of these industries in our developing world require a degree to show potential employees have the requisite skills to be effective in the business.

A majority of jobs in the STEM fields, as well as government services, also require college qualifications.

Gain Exceptional Skills

Communication, leadership, critical thinking, problem-solving and analytical skills are some of the soft skills that college students can obtain. And while people without a college education could have these skills, these institutions have proven curricula geared towards ensuring graduates acquire these skills.

Critical thinking has become essential in many jobs including software development where the ability to think logically is invaluable to these corporate institutions.

Professional And Experienced Instructors

Colleges employ lecturers with expertise in their fields. While some students could study what they need on their own, this isn’t the case for each student.

Receiving instructions from experienced lecturers means that college students are able to learn from the lecturer’s experience, and have the questions answered to further develop themselves in their chosen fields.

Structured Curriculum

College curriculums are designed to equip students with fundamental knowledge in their field and also help them advance that knowledge. After years of tweaking these curricula, districts are able to provide curricula that make students employable in the job market.

Is College A Scam

Now that we have an understanding of both sides of the debate, let’s try and answer the question.

No, College is not a scam. That said, having a college degree should no longer be viewed as an investment, as graduates might spend the bulk of their working lives striving to pay off their student loans.

College graduates end up in debt for the major part of their professional lives.

FAQs

College Is A Pyramid Scheme

No, College is not a pyramid scheme. While colleges have become capitalist enterprises capable of trapping students in lifelong debt, they differ from pyramid schemes that rely on participants receiving revenue from the recruitment of newer participants.

Is The College Degree Outdated

No, a college degree still remains relevant. However, recruiters now leverage big data analytics to look beyond the college degree and identify skills and competencies even from those without college qualifications.

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