Is college worth it?

Question

Im planning to go to medical school next fall, but I couldnt help thinking, is college worth it for the average person from a financial perspective. Yes it is necessary for certain jobs, doctor, lawyer, etc. College can easily cost about $125,000 for four years plus room and board. Most people have to take out loans for this which means they actually pay more than this. If they had just gotten a government job say w/ the post office, they would have saved this $125,000, or more. Been able to make close to $100,000 working for the four years rather than in school. So it looks like college can actually cost you around 225,000 in theory. Especially for the parents who have the money to pay for their kids college. Wouldnt they be better off investing that 100,000-150,000 for their kids and letting their kids get a job w/o a degree. That money will probably be close to 1 million dollars within 20-25 years, right?

It just seems that college isn’t worth it if you are going to be an elementary teacher, or an accountant, or something like that, it isn’t worth it strictly from a financial perspective. I am not saying college is bad or people shouldn’t go or anything like that. This is just something that came to me late in my academic career and I would like some thoughts on.

Answer 1

I personally think College is well worth your money, your basically going for a great career to get your self thorugh life and have no finacial problems like you do now. You wouldn't so much struggle with paying bills after you graduate from college and get a great job with awesome pay. Do you see where i am coming from on here?
Go through college...well at least think about it then well decide if you want to go.
I made a really good point about this.
Im gonna go to college after i get out of High School and i graduate next year in 2008...so thats not far away i got a place in mind where i want to apply and what i want to be in my life. Make some good money. After getting out all your money from your then job is well worth it cuz of you going to college, im sure you will love life then more than you do now.

Answer 2

I don't think college is always necessarily worth the cost. I have several friends who majored in English in college and are barely making more money than I am and I don't have a college degree. One of those friends even has her Masters and she's a glorified receptionist for a small company. Some college grads are fortunate to get great jobs right after graduating, but many aren't so lucky. And the later in life you get that great paying job, the less time you'll have in your life to make up for shelling out the big bucks to pay for college.

Certainly in the long run, you probably make more in your lifetime with a college degree, but like you said, you could take the money you would have paid for college and invest it. It's certainly a toss-up sometimes unless the job you want requires a medical or law degree, or an MBA or CPA.

Good luck in medical school!

Answer 3

I'd say it depends on what you want to do in your life or where you want to go. College isn't for everyone and that's ok. If you want to be a doctor or lawyer then of course you'll have to go but it all depends on what interests you. A job is something you do for money and a career is something you enjoy. It's up to you to decide what to do :).
As for the money thing, I'm already in debt. I've taken 4 classes and I'm around $6,000 in debt. Not too much but I want atleast a masters so that's like um 20 classes I need or something, depends on if I transfer.

Answer 4

Yes, it all just depends on what your major/minor is. If it's a good paying jog(doctor) then you'll pay off loans faster then if it's not a good paying job.

Answer 5

Oh yeah collage is always worth it you learn more stuff you get your degrees you can also get a good job and make lots of money and spend the rest of your life happy.

Answer 6

Yes it is becoming harder and harder for a person to get a job with just a high school diploma.