Literature Review on the topic “Your investment in higher education”
Is the Investment in college education worth?
There has been an immense debate regarding the issue of investing in higher education lately. The arguments are based on two major aspects. These include the aspects of financing and investing in higher education by public organizations. The other issue has been if investing in higher education is worth in terms of how well the students turn out to be in comparison to other students who have not acquired university degrees or credentials. However, in order to understand the arguments that form this debate and the way that it started, there is a need to define what worth is in this respect, as well as the real definition of wellness. It has been discovered that only a few unique circumstances lead to lack of proper jobs or statuses to make the public investment in higher education worthless (The Economist par. 5).
With regard to the investment in higher education, different individuals define its worth in varied ways. This worth lies in the benefits by both the students and the public to contribute too much money towards its course. According to The U.S News (par.1), worth refers to the ability by college graduates to secure well paying jobs immediately after they complete their courses. In most countries, higher education has been linked with the ability to create sustainability. It is consequent to this that the investment in higher education has been considered a big investment since it is associated with big returns.
There has also been a major debate over how well the students perform after their higher education studies. This is in terms of their general well-being within the society in which they are released after their studies. One of the principle questions posed is whether a lot of efforts and financial investment is only made in order to get financial benefits in return. In this respect, there is also a conflict over the meaning of wellness among different people since it is understood and perceived in different ways by different people (The White House par 1-5).
The definition of worth and wellness includes the nature of jobs that are subsequently obtained by those who put in a lot of time and money in the higher education investment. This is also considered in relation to their well-being and status after the acquisition of their credentials. TNCPPHE (par. 3) indicates that other education levels can also help individuals get some income. For instance, the economist quotes a hint provided by the President of the United States when he quotes that the other students can learn a trade or two that will help them get more income than with a degree in art history. Although it may sound offensive, it bears some truth (The economist par. 8).
This is contrary to a different argument provided by the economist (par. 1-8). In the article, it is asserted that it is a waste of money to have too many degrees. Instead of these, the author recommends that college education is made a little bit cheaper so that a better return on higher education is achieved. The basis behind this argument is that graduates from colleges and universities are getting out of the institutions with very huge debts. In essence, most of those who are against the idea of investing financially in higher education do this because of the increasing rate of unemployment. For instance, most of the graduates have qualifications that are no longer marketable. They end up working in alternative places, such as clothes shops and in restaurants to enable them earn a living. As a result, the amount of earnings is not sufficient to help them sustain themselves while they settle their college debts. This makes this kind of investment not worth taking. Those who get out of college are not in a position to land proper jobs that enable them pay the huge debts that they possess. With this, they are continuously in debt and cannot afford to take other kinds of loans, as they are not considered credit worthy. In this relation, spending a lot of money for higher education is not worthy. Instead of the students being in a better position as expected, they end up being more frustrated. At times, the same individuals are even forced to go back to the same institutions to study different courses that will enable them secure meaningful jobs. This is an indication that making the appropriate decision when choosing a course to major is important. It enables the students to get jobs that are well paying through which they will not find the payment of their already swollen loans burdensome. It thus proves that investing in higher education is worth (TNCPPHE, par. 1-5).
It is because of this that, at times, it is argued that the benefits of a degree can only be gained through financial means. However, as is indicated by White House, other benefits can be won with a degree from education. These include the ability to get better chances, status in the society as well as an image. Some of these are gained from earning of a post-secondary credential or degree is no longer considered a pathway that leads to opportunities for only the few who are talented. Instead, it forms a prerequisite for the available growing jobs in the new economy. It is known to be a gateway towards the middle class. It is as a result of this that in many states, a lot of efforts and focus is being directed towards the improvement of the various policies on K-16. According to the White House, it is likely that the jobs that will be present in this decade to provide employment for those who have education above the high school diploma will undergo rapid growth. This is unlike those jobs that require qualifications below this level (TNCPPHE par, 1-8).
Barr (par. 4) shows that the expansion of higher education in most areas has been desirable. However, it is highly costly. It is because of this that he explains why the funding for higher education is facing various imperatives for spending by the public. It has become an extremely sensitive issue in the political field of many countries. In addition, the financing of higher education has been a salient issue in the majority of the countries, in a way that it has not been fully accepted.
long run, it is evident that the financial support towards higher education is
helpful. It is worth in the sense that it is directly linked to the ultimate
wellness of the individual. Although it may be difficult for some of them to
find well paying jobs immediately after their studies, they have the ability to
engage themselves in other similarly significant activities.
Barr, Nicholas. Higher Education funding. Oxford review of economic policy, Vol. 20 (2). 2004: pp. 264-283. Web http://oxrep.oxfordjournals.org/content/20/2/264.short
The Economist. Higher education: Is college worth it? 2014. Web http://www.economist.com/news/united-states/21600131-too-many-degrees-are-waste money-return-higher-education-would-be-much-better
The National centre for public policy and higher education (TNCPPHE). The Educational Pipeline: Big Investment, Big Returns. 2004. Web. http://www.highereducation.org/reports/pipeline/
The U.S News. Is a college degree still worth it? 2014. Web http://www.usnews.com/debate club/is-a-college-degree-still-worth-it
The White House. Education: Knowledge and Skills for the Jobs of the Future. 2014. Web http://www.whitehouse.gov/issues/education/higher-education