The question on many people’s minds this week isn’t about what school to attend.
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No. It’s actually whether attending college is worth it or not.
Settling the debate might be tough, but there’s been plenty of coverage over the last few weeks to help people see if college is in their future, from a financial standpoint.
New data has shown that college is, in fact, worth it. The New York Times reported on Tuesday that college, despite leaving a footprint of $1.2 trillion of student debt, is worth the struggle.
“Americans with four-year college degrees made 98 percent more an hour on average in 2013 than people without a degree,” wrote David Leonhardt for The Times. “That’s up from 89 percent five years earlier, 85 percent a decade earlier and 64 percent in the early 1980s.”
In fact, the importance and value of a college degree has been on the rise since the 1980s, The Times reported. And those who graduated with a degree had considerably higher pay than those with “some college” experience, The Times reported.
Not going to college may cost you a hefty price, too. The Times reported that not attending college could cost you $500,000. “That’s right: Over the long run, college is cheaper than free. Not going to college will cost you about half a million dollars,” Leonhardt wrote.
That’s why a degree is crucial, wrote Ben Casselman for FiveThirtyEight.