The ever-rising costs of a university degree, coupled with increasing numbers of unemployed graduates, has left the latest generation of students pondering over whether a college education is worth it. Do the benefits of a college degree outweigh the costs?
Whether college education is worth it dependsShow moreShow less
The value of a university education depends on several factors including the financial assistance available, the field of study and the higher educational institution.
Whether college is worth it depends on available financial assistance
Different governments and financial providers offer different financial assistance and loan terms. These affect how much a student pays out of pocket for their university education and therefore, impacts the return on investment.
Some governments and universities offer financial assistance or favourable loan terms to eligible students. The amount of financial assistance available to a student is a significant factor in assessing the value of a university degree.
Someone who has to pay for all of their tuition and living expenses out of pocket will have a different threshold for assessing the value of university than someone who has received a significant sum of financial assistance or very favourable loan conditions.
Therefore, it is impossible to say whether a university degree is objectively “worth it” without knowing exactly how much financial assistance is offered and what the terms of any student loans are.
[P1] To calculate the value of a university course, you must know the investment.
[P2] Different financial institutions, governments, and universities offer different financial assistance and loan packages.
[P3] The value of a university course depends on the financial packages available to the individual student.