Is College Still Worth It?

Do You Have a Plan for Your Schooling?

“Many people unfortunately go to college because they see free money, and think they can live on that money, take some classes to get a degree, and get a better job,” says Hollingsworth. She points out that the “free money” that many students think they are accessing is actually student loan money.

“In reality,” Hollingsworth continues, “they are racking up debt, wasting time, and are incapable of doing the work.

That’s not to say that any social science degree is useless. However, it’s important to consider your reasons for attending school, and pinpointing the type of degree you want, and what you plan to do with it. As a result, you might end up spending too much for a degree that doesn’t offer you much in terms return on your investment.

If you decide to go for a degree that won’t allow you to earn much after you finish school, it makes sense to attend a school that is less expensive, so that you don’t have as much debt.

What Degrees Pay Better?

“Many professions where you don’t learn something specific aren’t worth it,” Hollingsworth says. She points out that many general degrees that don’t come with specialized knowledge that makes you marketable and valuable when you finish. “Picking a profession like finance, business, or any of the STEM majors is worth it.”

STEM, or science, technology, engineering, and math often offer the most bang for your education buck. These are majors that often allow you to get a decent-paying job fairly soon after graduation, in fields that are in demand. Plus, the practical skills you gain in these majors mean that you are ready to do a competent job in your field.

By contrast, many of the more general majors might require that you go on to earn an advance degree — racking up even more education debt — if you want to find a job that pays better. Thinking through the realities of your job prospects can help you avoid expensive mistakes with your education.

Where You Go Matters, Too

Another consideration is where you get your education. There are a lot of ads claiming to help you get a degree online. While there are some reputable programs that offer online degrees, the majority of these programs are for-profit schools that are very expensive. The degree you receive may not be as respected as a degree from a state school, or a well-known and respected private institution.

“Most for-profit schools are not worth it,” says Hollingsworth. “They are designed to extract federal money for teaching the poor, or those who can’t get into a ‘real’ college, and they provide almost nothing in return.”

Loan money is directly proportional to your credit score..beware !!

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