Article Review-Value of College Degree
Examining the value of a college degree by Payscale
The first article, examining the Value of a college Degree, was written with the sole aim of establishing the value of a degree in the modern world. The article is written by various professionals who have all given their views, based on their outstanding reputations in the field of academics (“Examining the value of college degree”). From all the topics written on the article, all the authors seems to agree that college degree is very important but not always as some people fail to benefit as they had expected even after dedicating their time and applying for loans to enable them accomplish their studies.
The article shows that educational institutions give different outcomes and graduates who come out of these institutions are not always alike. The colleges are therefore challenged to ensure that they do their best to ensure that the students graduate when they are better placed to access jobs. According to one of the authors, Greg Gottesman, the rising cost of tuition fees has made cost of education out of reach of many students and therefore they are forced to take loans (“Examining the value of college degree”). The government and other stakeholders should look for ways of educating more students at lesser costs, including having a constant and affordable tuition fee.
To enable students get jobs after college, stakeholders must advise them on the current trends in the job market. Students must know which degrees would enable them get a job on the current work environment and minimize the number of students who will remain jobless after college. Failing to secure job after college makes the student not to be able to pay college fee loan and also may demoralize others from pursuing college education (“Examining the value of college degree”).
Student debt and the value of a college degree by Hans Johnson, Marisol Cuellar Mejia , David Ezekiel Betsey Zeiger
The second article is titled, student debt and the value of college degree. The article is under the public policy institute of California and it briefly looks at ever rising tuition and other fees in college education, which have led to increased student debts in the midst of weak economy (Hans, Marisol, &David, 2013). These factors are said to have created doubts in the minds of many people on whether it is of any value to pursue college degree .it has also acknowledged the fact that many students are using loans to pay for their college education shows that college education continues to be inaccessible to many students.
The article further states that amount of loan taken by students to further their education have increased in the recent years. Much of the loans are taken by the students in the private colleges than those in the public institutions (Hans, Marisol, &David, 2013). Almost all students who attend for-profit private colleges take loans, which are oh higher amounts than those taken by their counterparts in other institutions. The article asserts that these students who attain college degrees are better placed to access good jobs than others who never graduated from colleges; this is because higher education opens doors for good jobs and better wages.
The authors are of the opinion that with the ever increasing tuition fees, policy makers should find other ways of ensuring that college education is affordable and accessible to all students. State should motivate families to save early for their children’s college education so that they avoid situations where they have to apply for loans for their college education. They also point out that the overall gain of college degree is much higher than of an individual and whether others get jobs or not, more people should be encouraged to seek higher education and get degrees (Hans, Marisol, &David, 2013).
Do the Benefits of College Still Outweigh the Costs? By Jaison R. Abel and Richard Deitz
In the third article, do the Benefits of College Still Outweigh the Cost? Authors have at the rising cost of college education compared to their salaries that the graduates receive after attaining the college degrees. The trend points to a troubling trend, graduates earn less than what they paid for (Jaison & Richard, 2014). This trend is said to be the reason why many people today question the profitability of pursuing college degree. Economic analysis however seem to favor college degree as a good investment since the 1970s and that despite the rising tuition fees and the small earning of the graduates, the overall return for college degree graduates remain high.
The slow pace at which the labor market continues to recover from the global recession has caused many graduates to be out of jobs (Jaison & Richard, 2014). These same graduates have debts they took to access college education and are expected to pay. This article has therefore presented two scenarios, the skyrocketing college fees and the lack of jobs for the college degree graduates. The analysis of the salaries of the graduates over the past few decades also points to the fact that their wages have continued to drop.
Rising tuition and falling wages should not be translated to mean that the value of college degree is falling. The value is said to have been steady at 15 % for more than ten years, a value higher than any other sound investment(Jaison & Richard, 2014). In general, the three articles acknowledge the challenges faced by those who pursue college education, but insist that college degree remains a valuable investment.
Examining the value of a college education. PayScale. Retrieved from http://www.payscale.com/content/value-college-degree.pdf
Hans, J. Marisol, C. M . David, E.(2013).student debt and the value of a college degree. Public policy institute of California. Retrieved from http://www.ppic.org/content/pubs/report/R_613HJR.pdf
Jaison, R. Abel and Richard, D.(2014). Do the Benefits of College Still Outweigh the Costs? Federal Reserve Bank of New York. 20(3).Retrieved from http://www.newyorkfed.org/research/current_issues/ci20-3.pdf