The Utility of University

- for those attempting to rationalize college spending & debt, with information from the National Center for Education Statistics, CNN, The Washington Post, and Forbes -

“You’re here to compile a portfolio, to build your resume for the future.”

“Don’t ever let someone bring you down because they’re jealous you’re getting a higher education.”

My copywriting professor, Dr. Will Anderson, said these words to me in class on Monday the 23rd, 2017. They struck a chord with me compelling me to share them. I'm often disillusioned by the thought of spending nearly $100,000 in four years on school. It pains me to think of the debt I'm racking up. What hurts worse is getting kicked while you're down by the interest on loans. It seems to all add up to a swirling pit of financial insecurity. While this last bit may be true for a time, I was reminded by Dr. Anderson why it's all worth it.

Spending copious amounts of money on books, apartments, class materials, credit hours, and extra-curriculars can begin to drag you down unless you remember how important the college experience really is. Below I'll list the simple benefits of not only receiving a higher education, but what college does for you as a whole. Then maybe we can remember to stay positive, keep our heads up, and value our education for what it is.

• Education: This may seem obvious, but we're in college to learn and grow as people. We took the initiative to expand our inventory of knowledge so that we can enhance ourselves personally and professionally and so we can use that information to move society forward.

• That Piece of Paper: Yeah, everyone knows that we come here to get our bachelor's degree. Simply having that sheet of paper increases your chance to get a job and to earn a higher wage.

  • The National Center for Education Statistics reports, "The percentage of young adults working full time, year round was generally higher for those with higher levels of education attainment. For example, 73 percent of young adults with a bachelor's degree worked full time, year round in 2014, compared with 65 percent of young adult high school completers (those with only a high school diploma or its equivalent)."

  • The NCES also reports higher wage earnings for those with higher education levels, "For example, in 2014 the median earnings of young adults with a bachelor's degree ($49,900) were 66 percent higher than the median earnings of young adult high school completers ($30,000)." (Link provided below.)

  • Later findings on CNN Money (retrieved from the Bureau of Labor Statistics) reinforce these findings stating that only 2.5 percent of college graduates are unemployed compared to 5.6 percent of high school graduates. 

  • CNN Money adds that college grads on average earn a weekly wage of $1,227 compared to the $678 of high school grads. (Link provided below.)

• Clearly, there is something to be said for a college diploma.

• Experience: Most college students strive to position themselves with various student organizations, internships, or jobs, generally all three, and this is endlessly important. Classes and grades are one thing, but employers often value experience above all.

  • The Washington Post reviewed multiple studies including one done by the Chronicle of Higher Education to ascertain that, "What employers really want are workers they don't have to train." When studying what employers look for, "Only one of the top five priorities had to do with candidates' academic experience, even though this was for new graduates who have yet to take a full-time job." (Link provided below.)

  • An article from Forbes Leadership provides insight on how to handle this issue, but their simplest piece of advice is, "Employers want to know you have skills that go beyond those of the traditional academic classroom, so if it's not too late, try to get as much experience as possible while you're still in school." (Link provided below.)

• Networking: One of the greatest facets of the college experience is that of making connections. We are surrounded by thousands of people different from us, giving us access to soon-to-be professionals in various fields (including our own) and throughout the world. Making friends and colleagues at the collegiate level equates to a lifetime of resources that could be a great help down the road.

There is so much more that could be discussed with this topic, but I'll leave it at that for the sake of brevity. If you're interested in further research, I've provided the links below to where I got the information. Hopefully after reading this, you can feel just a little bit better about all the hard work you're doing and money you're spending. Remember, this is an investment for your future.

- Cullan

https://nces.ed.gov/fastfacts/display.asp?id=77
http://money.cnn.com/infographic/economy/college-degree-earnings/
https://www.washingtonpost.com/news/on-leadership/wp/2014/09/05/what-employers-really-want-workers-they-dont-have-to-train/?utm_term=.83817b0e8e87
http://www.forbes.com/sites/jacquelynsmith/2012/05/09/when-an-employer-requires-experience-and-you-have-none/#c986be070c8c