Suppose someone came up to you with a one dollar bill and a 10 dollar bill and told you that you could have the one dollar bill now, free of charge, or you could have the 10 dollar bill in 5 minutes. You would also have to give five dollars back. So what’s better, 1 dollar now or five dollars in five minutes. For many people, the answer is obvious, take the five dollars. Because five is better than one right? So then why does the choice change when its thousands of dollars instead of 5? While Student loan debt can be crippling for college graduates, college education is actually a good boost into the working world because college graduates are more likely to have health insurance and retirement plans, more jobs require college degrees, and college graduates on average have a higher annual income.

It is becoming a wide spread belief that the expenses of college far out way the benefits. An article on Forbbes.com says “Between 2003 and 2012 the number of 25-year-olds with student debt increased from 25% to 43%”. It also highlights that “The average student borrower graduated in 2011 with $26,600 in debt”. These and many other statistics alike show that college debt is indeed growing at a rapid pace. It is becoming increasingly easier for people to save money from college and find work in trade jobs. They also argue that many college students don’t even graduate and waste government money on partying and unproductive elective credits. However it is important to establish that college is not for everyone. But for the right kind of college student who according to Craig Brandon is intelligent, motivated, engaged, and has a clear career goal. When a student is motivated and has the intent to progress beyond their education. Then the benefits of college far outweigh the debts collected.

With new bills being passed and the requirement for it being enforced, health care is an important part of real world (after college) in an article written by Marceline Hardy she compares the rates of students with health insurance. It states that “ 70% of college graduates had access to employer-provided health insurance compared to 50% of high school graduates” Many of the jobs acquired after a college degree will offer health insurance, which is cheaper for those employees to access than it is for high school graduates to acquire insurance. College graduates also have better access to retirement plans. According to an article on collegeboard.com written by Sandy Baum, Jennifer Ma, and Kathleen Pays 70% of college graduates have access to easy retirement plans compared to only 50% of high school graduates, and only 30% of people who did not complete high school. So not only do college graduates have a higher level of education, but they also have better access to necessary elements of their future.

With the job market becoming more competitive, and unemployment rates sky rocketing, more and more jobs are requiring that employees have a college degree. “Based on economy and job projections calculated by Georgetown University, in 2018, approximately 63% of jobs will require some college education or a degree” this means that fewer high school graduates will be able to acquire jobs or advance in their current positions. Having a college degree also provides a constant safety net for workers in trade. While trade business can thrive, because many of them provide extremities, when the economy is tight fewer people are likely to fund there business. Having a college education allows failed trade workers to still have status in the working world and obtain a job at their level without having to start over.

In a world that revolves around money, having a paying job is essential. Especially when money is tight. Pursuing a college education can increase your budget and decrease the stress from having a tight one. In a study conducted by Michael Greenstone and Adam Looney, they found that on average college graduates (with a bachelor’s degree or higher) earn around $30,000 more than a high school graduate in a year. That’s about 500,000 more in a life time! Not only can having a college education can make you more money but it can also help you become more successful. In his article “don’t drop out to do a startup” Christian Yang found that 85% of the people who Forbes labeled as the 400 richest people were college graduates.

Now, it’s important to recognize that with this success there is a cost. But, only 10% of college graduates, reach student loan debt over 40%. Yes, College is expensive. But, it can help us to pursue our dreams and find success in our future. Some of the biggest figures of our society got where they were through a college education i.e.; Peter Thiel (PayPal, Facebook) Warren Buffett (philanthropist, investor) Barack Obama (president) etc. The benefits of having a college degree far out way the expenses. Having a college education is a great way to get a kick start into real life, with more jobs requiring degrees, better insurance and retirement, and not to mention the fact that it can help you make more money.