College enrollment
About half the 19 year-old population goes to college since 2010, increasing from below 40% in 1980's.
College costs
The average cost of college tuition in the U.S. for undergraduate students has more than tripled, adjusted for inflation, since 1981.
The average college cost in the U.S. for undergraduate students has almost tripled, adjusted for inflation, since 1981.
The average college cost in the U.S. for undergraduate students, adjusted for inflation, has been increasing since 1981 and has become a large proportion of median personal income.
It is becomeing difficult to pay for college by self. Increasing student loan to $1.8 trillion dollars, the crisis affects over 43 million Americans. Students with outstanding loan payments are 36% less likely to purchase a house.
College worth
Pew Research Center survey of U.S. adults conducted Nov. 27 to Dec. 3 2023 shows that 22% say the cost of college is worth it even if someone has to take out loans.
47% say only without taking out loans, and 29% say not worth it.
In a new
report
, 61% of college students said they regretted how much they borrowed with student loans.
Comparing education earnings with homeownership
After controlling for key socio-demographic variables that influence earnings and the probability of college completion,
men with bachelor's degrees would earn $655,000 more in median lifetime earnings than high school graduates.
Women with a bachelor's degrees would earn $450,000 more in median lifetime earnings than high school graduates.
Owning a $200k home will earn about $1.1 million in 30 years compared to renting a similar home.
The economic value of homeownership is greater than a bachelor's degree.
Plan for homeownership before planning for college.
Ways to avoid student loan
Why college?
First of all, college is a selection process. Certain people are accepted to college, and universities admit students who has higher potential of making money to make donations later. After admission, students who can earn higher GPA and get through to a degree will be favored by employers as proof that they could deliver what they were told to do.
Secondly, college is a place for networking. According to HubSpot, 85% of jobs are filled through networking.
Thirdly, sure, there may be some education in college, especially for those who have difficulty learning alone or in unstructured environment.
The future of higher education will see fewer students in today's college campuses while more learning on the job, in distributed groups, and online. In leading the future, we will build more communities that can serve as campuses for off-campus students, offering lower living cost and more jobs.
