Although it is true that the average salary in the United States hovers at around $45,000, the expectation that a new graduate can quickly gain employment in an increasingly difficult job market and begin paying off this debt places an unrealistic expectation upon the financial realities that face so many graduates. Said Michael Roth, “What does a liberal arts education have to do with the harsh realities that students face after they graduate” (Roth 2)? As such, an individual that does not wish to become indebted for a period of 10 or more years after graduation may very well way the costs and benefits of college education to come to the conclusion that they would be better served, as well as their families, by engaging in a career that does not require saddling themselves with such a massive levels of student debt. In the long run, economic analysis has proven that individuals who do not have student debt to pay off oftentimes with a higher quality of life. This is a noted great from the way in which a college education has previously been understood to benefit the individual irrespective of the costs associated with it. By means of contrast and comparison, many individuals put forward the understanding that a college degree can help a person to earn more over their lifetime. While this is indeed true, these statistics oftentimes do not count the student loan repayment and the interest that these necessarily have. As such, if a person were to factor these considerations into the equation that has been referenced, it is doubtful that the result would be nearly as positive as has thus far been reflected.Additionally, the. Is an American College Education Still Worth It.
Shierholz, Heidi. “New College Grads Losing Ground on Wages.” Economic Policy Institute. Economic Policy Institute, 31 Aug. 2011. Web. 20 Dec. 2011.
Leonhardt, David. “Even for Cashiers, College Pays Off.” New York Times. New York Times, 25 June 2011. Web. 20 Dec. 2011.
Roth, Michael. “What’s a Liberal Arts Education Good For?” Huffington Post. The Huffington Post.com, 1 Dec. 2008. Web. 20 Dec. 2011.
Wieder, Ben. “Theil Fellowship Pays 24 Talented Students $100,000 Not to Attend College.” The Chronicles of Higher Education. The Chronicles of Higher Education, 25 May 2011. Web. 20 Dec. 2011.
Pew Social & Demographic Trends. “Executive Summary.” Is College Worth It? Pew Research Center, 15 May 2011. Web. 20 Dec. 2011.
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