Essay Sample on Value of Education: Exceptional Benefits of a Learned Society

Introduction

The value of education is exceptional, and a learned society provides more benefits than an illiterate one. Higher education that is offered in colleges offers more value to an individual and a community in general when compared to a high school diploma. The more complex an individual becomes in terms of knowledge capability, the more he or she provides perceived benefits. Perceived benefits in this perspective represent the output of learning whose measurement is based on an individual's view. Some measure the perceived benefits of education in terms of monetary metrics, while others prefer to personal fulfilment and intellectual capability. Some scholars have argued that the value of college education is not universally ascertained as significant benefits vary widely based on the college attended, cost of training and specialization undertaken. Even though the validity of higher education is in question for the last decade, there is clear evidence that ascribes college education more valuable than high school education.

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The Value of College Education

Monetary benefits are one of the famous metrics used to measure the value of education in modern society. Similar to corporate measures, education is deemed more valuable if it provides a more comparative positive return when discounted to a present value. The benefit of this metric is not only beneficial to a learned individual but also crucial to society in general. If individuals earn higher pay in a given community, then that society develops not only in terms of intellectual capability but also in economic perspectives. Owen and Sawhill infer that an additional year of schooling translates to a more 10% return (319). The rationale points out that the more a person takes on the learning ladder, the more likely that he or she gains more monetary benefits. Considering this derivation to the discussion, a college education which is an institute of higher learning is expected to provide more future financial benefits than a high school. For example, if a high school graduate in a certain age bracket earns $50,000, then it is expected that an additional year in college would receive $5000 more (Owen and Sawhill, 319). Some scholars still argue that the perceived higher earnings are raw facts that do not offset the cost of earning a college education. It is necessary to consider this cradle since an additional year of school means more expenses incurred to obtain a higher sense of logical capacity. As a basis to modern society, funding is a considered perspective by the government to enhance college education. Governments and NGOs provide grants and low-cost student loans which individuals can use to obtain a college education. The ultimate value of college education, which can be computed in present value after deducting the costs is positive and higher when compared to a high school diploma (Owen and Sawhill, 321). Consequently, education policy has made it a mandate to inform individuals of the value of courses offered. In this, individuals can well plan for their monetary investment in college education to match their career paths to accrue the additional benefits of a college education.

College education from the "right" institution provides a higher perceived benefit to college graduates than high school graduates. The perceived value of college education, which is measured in terms of its output depends on its value input. The "right" institution is defined as one which offers formal education, has a higher rate of graduation, and provides financial aid for students. College education creates more value when it is obtained from the right institution. Owen and Sawhill claim that college graduates who attended selective private schools receive annual premiums of up to $620,000 (323). Comparing to this value, graduates who attended less selective schools receive about a third of these premiums. The premium value in this perspective is a measure of the additional earnings of a college graduate when compared to a high school graduate in the same definite institution of learning.

Some may deduce that collective schools are too expensive to attend, especially when it comes to low-income people. Even though affordability is a principal factor in attaining education, it is also essential to consider the subsidized cost of offering modern learning. For instance, most selective schools are invested in, meaning that the cost of education is reduced as students obtain financing and grants more efficiently when compared to past years. Owen and Sawhill infer that 60% of students get financial aid at Vassar College, which is one of the most selective colleges of higher learning (323). It is also evident that students from low-income societies are being prioritized in gaining these financial grants to fund their college education. The cost of obtaining knowledge from selective schools should thus not be a significant factor in making college education expensive. The most crucial factor to consider remains that the long-term benefits of obtaining college education from a selective school remain higher when compared to that of a less particular school. These benefits are measured in terms of monetary premiums; a premium being the additional earning of a college graduate compared to a high school graduate in a similar categorical institution of learning. A logical person is capable of doing the math correctly. For instance, if someone needs to be at a higher wage pay or else create higher lifetime premiums, then the correct thing to do is to obtain college education from a recognized institution. The rationality then remains in line; a high school diploma has less monetary rewards in the long run when compared to college education in any categorical institution of learning.

Based on industrial trends, it is ultimate to consider that employees who possess a higher level of intellectual inference accrue more pay than those with lower education (Owen and Sawhill, 327). Some occupations offer higher pay than others. For example, engineering pays more than learning. Some scholars have used this notion, claiming that high school graduates who are specialized in architecture and engineering earn more than college graduates in education. However, the rationale might not be even to consider since the comparison may differ in terms of specialization. But still, there is another factor that prime college education in the same consideration. The labour market in recent times has made proved that being employed is easier for a college graduate than to a high school graduate. An employer would consider a college graduate in a specified specialization to be more skilled and competent when he or she has attained a college education than high school education (Sobel, 82). The rate of unemployment among high school graduates is high compared to college graduates only because employers prefer college graduates to high school graduates as potential employees. Considering the monetary benefits of a high school diploma to those of a college diploma is instead not a matter of question in recent times but a matter of consequence. The advancement of the labour industry has made college education inevitable and those that choose to prime high school diploma end up in blue-collar jobs. Rationally, having monetary rewards starts with having a high paying job in the first place, and this potency proves to be operational among college graduates. A college graduate is also more informed of the industrial complex, is open to more information regarding the job market and is also ready to take on managerial perceptions of owning a business (Carlson, 2). Generally, it is beneficial for one to be informed that college graduates gain more professional success than high school graduates.

There is additional wellbeing to an individual who takes on higher learning (Owen and Sawhill, 320). The benefits of education cannot be underpinned on monetary metrics only. Instead, there are numerous benefits which cannot be underestimated. Research has been conducted on the quality of higher learning, and there is sufficient evidence that more education sustains a higher sense of wellbeing in terms of health, marriage and job satisfaction to individuals (Owen and Sawhill, 320). When an individual is more educated, then it means that he or she is capable of taking challenging tasks in his professional duties. More jobs involve a platform in which a person can define his or her capability in terms of skill and competence. An individual who engages in repeated professional simulation, which in this case is one who owns intellectual ability from higher learning gains more professional satisfaction than the one who lacks such knowledge. Taking rationality from socialism, a satisfied person, may it be from job satisfaction or other social perspectives is capable of leading a peaceful lifestyle which can be attributed in his or her overall health. Alternatively, higher learning imparts more skills on social aspects to an individual. There are specialized units that higher education provides in dissecting the elements of social complexity. Moreover, higher learning offers more exposure than high school learning, and such disclosure can be used to observe the realities of social complexity. The rationality is the same notion that Owen and Sawhill used to prime college education over high school education when it comes to the development of personal wellbeing in society (320).

Conclusion

The discussion to take in this analysis is that college education is a necessity to modern society. The labour industry, for instance, considers that more professional competence is set in higher learning. As well, studies have revealed that higher education offers more monetary benefits than high school learning. As well, social complexity in terms of politics, sociology and economics is being driven through the intellectual capacity of higher education. Moreover, the more educated a person is, the more society becomes developed in terms of economic and social perspectives. It is then rational to conclude that college education is a necessity to everyone.

Works Cited

Carlson, Scott. "Should everyone go to college?" The Chronicle of Higher Education (2016).

Owen, Stephanie, and Isabel Sawhill. Should everyone go to college? Brookings Institution, Center on Children and Families, 2013.

Sobel, Ann EK. "Should Everyone Go to College?" Computer 10 (2012): 82-83.