Is a college degree overrated? Here are some reasons why we think so.

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If you are like many people, you may have thought your life pattern plans involved going to college and pursuing a degree, then graduating, getting a nice job and contributing to the welfare of your community, family, or advancing your life status. However, as you grow older and get to the tail end of finishing high school, the idea of going to get a degree does not seem that exciting any longer.

College degrees are becoming a point of contention for many students and parents alike. With the rising cost of education every year, as well as the use of that degree in the job market, more people are wondering why they should even go to college in the first place. In addition, the increasing number of individuals that you see involves some of them being college dropouts or not attending college in the first place.

Among the rising questions is why college is overrated for many people, in direct opposition to what society deems as okay, or maybe the rising tide that college generally sucks – at least for some people.

Costs of learning

Let us just be honest with ourselves here, college tuition fees are not a walk in the park. America in particular, has increasing frequency of students who have very high student debts from loans they have accumulated while still in school, and it becomes a burden to pay.

In fact, the average cost for an in-state public university student comes to almost $18,000 on an annual basis. The students that go to an out of state college public university accrue costs of $29,000, while for private university students, it comes to $37,000.

The tuition fee covers all student costs, which include accommodation, transport, tuition itself, books, and other miscellaneous costs. Now multiply this cost by the number of years your degree takes, and you will get the total net amount you are supposed to pay back.

The sad thing is even though these schools will offer scholarships and grants; these can only cover so much – maybe between 5 and 10% of your total fee. And these grants do not go to all students; only a maximum of half of the student body in your school. What is the conclusion here? Tuition fees cost so much money.

Your debt after your degree

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You think you know a life full of debt? Think again. The situation of your tuition fees every year, multiplied by the number of years you are I school, gives you a debt load that you can find it very difficult to pay back.

Just imagine that you have secured your first job after your degree, and almost all the money from your salary is going to pay your student loans every month (depending on how many loans you had), plus interest that you did not even pay during your college stay – yeah, that prospect does not sound exciting at all.

It is not surprising that many college graduates end up working several jobs just to pay the bills, since the money left from their salary is insufficient to cover basic needs. Many of them realize that the final picture is very ugly once it is consolidated. You will not even be in position to move out of your home, get your first car, or make any major life decisions – all because of nagging student debts.

Some of your working years are lost

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A common thought from the results of a study reveals a well-known truth – that high school graduates spend their full time working, while college students are in class.

You never know the value of work experience until you go out looking for a job. For instance, as you are getting your degree, you friend is out working as a waiter in a restaurant, then takes two years of hard work and ends up as a manager. Within this time, you are simply accumulating loans and not working, and even when applying for a job your friend has a higher chance of getting hired due to their working history.

Remember, at the end of the day, academic degrees and credentials can only take you so far, and skills often matter much more.

Retirement options are more when you do not attend college

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The sad reality for most of us is you rarely have the money to afford your tuition fees upfront, since you most likely come from a middle class or lower class family. However, college loans promise to give you the best education at subsidized rates, but do they really?

Think about it though: what if you decide not to go to college, and instead use that money you could have spent in tuition fees to invest in a retirement fund, at least immediately after you finish high school? You can source this money out by looking for a job – no matter how small it may seem – and open a savings account.

Even if you graduate with a prestigious degree, the chances of you catching up to a person that started saving their money early is more difficult than it looks – all because of student debts that you must pay. The high school graduate may earn less than you every month, but they end up having more money at retirement.

There are many cases of college dropouts

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What is the worst thing that can happen to a student? Ending up as a school dropout. In reality, this is what happens, and it is at higher rates than you think, with many turning to other activities just to get by.

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In fact, statistics reveal that 50% of college students will not finish their degree. When you are a student that depends on loans and student grants to go to school, that can be a major setback in your future plans.

Until the school system undergoes major changes, you will ask why you need to spend that much money, just to fail at the end of it all.

Final thoughts

Going to college is an agonizing decision that you should not take lightly. You also need to keep in mind that degrees are not the sole way to succeed, and you can explore other options if college is not viable.

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