There are many factors when making decisions about higher education. One of the most important is the cost. In 2020, CNBC reported that the number of students wishing to pursue a college education was declining simply because of the cost. A survey showed that the number of high school students wishing to graduate fell to 53% in March, from 71% of students in July 2020. One of the main factors is the huge impact of the coronavirus pandemic. on the economy.

The price of a degree becomes less attractive to those trying to recover. Once adjusted for inflation, the annual average cost of all expenses for a four-year private nonprofit college has nearly quadrupled from just $ 10,000 in 1970 according to CNBC. The cost of an average four-year public college has doubled from about $ 5,000 in the same amount of time. In a capitalist society, this is extremely devastating for many middle and lower class families.

Another devastating fact for middle class families is that they are the hardest hit by student debt. In 2021, Scholarship America, a Minnesota-based nonprofit, reported that Americans across the country were in debt by $ 1.7 trillion, with middle-class students owing the most because so many of their families were earning too much to qualify for many large student aid programs, but not enough to cover the full cost of their education. Students from families earning between $ 40,000 and $ 59,000 per year have accumulated up to 60% more debt than students in lower grades and 280% more than their peers whose families earn between $ 100,000 and $ 149,000 per year, according to Scholarship America.

A Salary is an important factor in deciding whether or not to pursue higher education. According to a study by the social security administration.

The numbers swell as education continues. Men with graduate degrees earn $ 1.5 million more in their lifetime than their high school counterparts, while women with graduate degrees earn $ 1.4 million more in their lives than female high school graduates, according to the Social Security Administration.

No factor is more important than what you want to do with your life. Some may be uncertain, and that’s okay. Students have several options. Some may want to take a year off and work before pursuing higher education or use the time to determine their next step. Some may prefer business school, and there are certainly people who died in college. All of these options are okay, as long as you understand what makes you happy.

Speaking of business school, this is an option that is often overlooked, but it could certainly be the right choice for many, even in a world where college is supposed to seem like the right path to success. In 2019, the Atlantic reported that the number of students enrolled in trades school increased from 9.6 million in 1999 to 16 million in 2014. This is no coincidence, as many jobs now require specialized training in technology on which a bachelor’s degree wouldn’t spend a lot of time. This has actually led many people to enroll in business school after graduation. This shows that there is a demand for specialized training all over the country, not only in technology, but in mechanics, electrical and construction to help the growth of technology in our society.

Personally, I think higher education is necessary for my hopeful future careers as a teacher and lawyer, but not everyone is. College is not for everyone. A 9 to 5 job is not for everyone. With the rise of young people who succeed through social media and startups, college isn’t synonymous with success.

We shouldn’t let society measure whether or not we are successful, we should be doing it ourselves. Whatever someone decides to do with their life should be the path they want to take, not the path society says they should go. So yes, higher education is necessary for those who feel the need to pursue it to achieve the success they desire. But no, a bachelor’s degree is not necessary for everyone to be successful and happy in life.