Research Paper on Achieve the American Dream: The Value of College Degrees

Introduction

Earning a degree is an essential step in one's life as it is a primary part of the American dream. Individuals believe that a college degree helps one to acquire a good job, buy a house, and raise a family. Colleges have increased the number of courses so that they can accommodate every individual who has a dream of attaining a college degree. Individuals who argue that a college degree is worth it contend that the graduates have a higher chance of obtaining bigger salaries, higher employment rates and acquire more benefits than the high school graduates (Page & Scott-Clayton, 2016). Also, people believe that college degrees make individuals have more interpersonal skills that help them in the achievement of life goals. Also, some people contend that a college degree not worth it due to the accumulation of college loans, which hinders graduates from saving after getting employed. For example, during colonial America, the colonial colleges were attended by the wealthy Puritans, who focused on the models of Scottish and British universities (Page & Scott-Clayton, 2016). These universities focused on the moral character and general education of students. Therefore, due to the emergence of different universities and colleges around the globe, this paper will focus on whether a college degree is essential for getting a well-paying job in 2020.

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In the 1900s, institutions were developed to educate groups that were excluded by the ancient colleges such as blacks, immigrants, women, and the Roman Catholics (Harbour, 2014). The black colleges were restricted to agricultural and grade schools, which offered minimal college-level education. For example, the colleges which were built on the western frontier of the United States had fewer populations that attended them. The goal of attending colleges during the 1900s was to gain a license of instructions that helped individuals to teach in public schools (Harbour, 2014). In recent years, college education has become a significant investment that allows individuals to develop their skills and prepare for skilled jobs. Therefore, over the years, colleges have grown and increased, thus improving the quality of education offered to college students.

Pros of College Education

Employers consider individuals with college degrees since they possess appropriate skills that promote the delivery of quality services. For example, individuals with strong communication skills can effectively communicate with customers, leading to the achievement of the company's goals. Lecturers in Universities try to nurture critical thinking skills through class presentations, taking notes, and writing of terms papers (Wehman et al., 2015). Also, college graduates want careers where they feel secure and satisfied. For example, college graduates enjoy employment benefits and higher-income over high school graduates (Scott-Clayton, 2015). Therefore, individuals with college degrees possess appropriate skills that help them in the acquisition of job opportunities with high income.

Consequently, college degrees allow graduates to become empowered, thus creating a developed sense of self. Besides the knowledge attained by graduates, they possess an understanding of various responsibilities that have an impact on their daily existence. The graduates understand how different markets influence the retirements and tend to comprehend the vital contracts (Carnes & Lupu, 2016). Also, college degrees enable graduates to manage and become familiar with their finances. Individuals with college degrees are self-worth and have pride in finding agency on how to change circumstances that lead to transforming societies. In the job market, college graduates give various ideas to employers that assist in decision making.

Additionally, college degrees make individuals enjoy an increased income than high school graduates. Individuals with a bachelor's or master's degree have a more significant opportunity of pursuing higher-paying jobs, which are considered as requiring advanced skills. There is a big gap between the earning made by high school graduates and college degree graduates. For example, high school graduates can earn an average of $30000 annually while college graduates earn an average of $50000 annually (An, 2013). The wage given to individuals with a college degree increases significantly, thus making them financially stable. Therefore, one needs to have a college degree in case they are determined to earn a higher income.

The college degree helps one to survive during hardship since they possess marketable skills, and their level of education is higher than others. In colleges, individuals gain an extensive knowledge base of how to survive during hardships, thus making one acquire life satisfaction. Also, graduates who attend a local college can maintain their current jobs while enjoying the benefits available for a degree holder. The degree holders can make obsolete decisions that help in solving issues faced in life (Hu, 2014). Therefore, with a college degree, individuals can utilize every opportunity, thus earning a living.

Cons of College Degree

A bachelor's or masters degree is not a guarantee of employment as people tend to struggle with searching for a job after graduation. Some of the college degrees are competitive in the job market, thus rendering one to become diverse (Ewert, Sykes & Pettit, 2014). Also, individuals might end up having depression as they experience the challenges of acquiring a job. For one to avoid such difficulties, they can do beforehand research about the marketable fields. Whenever students are choosing schools, one can consider colleges that will provide them with adequate skills they require to pursue a rewarding career. Therefore, the challenge of attaining a job can limit the success of college graduates and delay saving for the future.

Consequently, students who study by the use of loans face difficulties after completing their college degrees as they live with loans to pay. Study loans force individuals to find extra income that can be used to clear debts (Zhan, 2014). Also, one might cut the essential things in their lives and use the extra income to pay the debts. The loans hurt a persons' retirement savings as one experiences difficulties to save. Individuals who start saving as soon as they begin working, their savings build' faster because of the compound interests. Also, as the college graduate tries to clear their study loans, it can be hard to buy home and grow financially. Therefore, the use of study loans to clear the college degree makes it challenging for individuals to grow financially and develop themselves.

The duration taken by students to complete their college degrees is long, thus increasing the cost of education. Students from humble backgrounds can experience difficulties to pay for their bachelors' degree due to its high cost. The duration taken by an individual to complete their studies limits their chances of getting employed early. Reducing the period in which one takes to finish their education makes them enjoy all the benefits that come with a college degree. For example, an individual can be limited to getting access to the opportunities and life experiences that are related to college degrees (Bozick & Estacion, 2014). Also, the specialization in one's career creates a room for the career choices becoming flooded, thus leaving most graduates unemployed. Through the increased unemployment rates among the graduates, they end up becoming depressed since they are not satisfied.

Conclusion

Since the pros of having a college degree outweigh its cons, a college degree is essential in the development of one's life. Colleges have increased the number of courses so that they can accommodate every individual who has a dream of attaining a college degree. Individuals who argue that a college degree is worth it contend that the graduates have a higher chance of obtaining bigger salaries, higher employment rates, and acquire more benefits than the high school graduates. The advantages of college degrees range from getting appropriate skills that help graduates in tackling various tasks in the job market to obtaining an increased income at the job. Also, individuals with college degrees have greater chances of securing job opportunities than high graduates. In turn, college degrees are expensive, thus making the college graduates take loans, which will facilitate them through their education. Repaying of the college loans can take a longer duration, thus causing the individual to take long before they start saving for their retirement. Besides, as the college graduate tries to clear their study loans, it can be hard to buy home and grow financially. Therefore, students are encouraged to acquire college degrees since it is a lifetime investment, and it helps one in making obsolete decisions regarding their lives.

References

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Bozick, R., & Estacion, A. (2014). Do student loans delay marriage? Debt repayment and family formation in young adulthood. Demographic Research, 30, 1865-1891. Retrieved from https://www.demographic-research.org/volumes/vol30/69/default.htm

Carnes, N., & Lupu, N. (2016). What good is a college degree? Education and leader quality reconsidered. The Journal of Politics, 78(1), 35-49. Retrieved from https://www.journals.uchicago.edu/doi/abs/10.1086/683027

Ewert, S., Sykes, B. L., & Pettit, B. (2014). The degree of disadvantage: Incarceration and inequality in education. The ANNALS of the American Academy of Political and Social Science, 651(1), 24-43. Retrieved from https://journals.sagepub.com/doi/abs/10.1177/0002716213503100

Harbour, C. P. (2014). John Dewey and the future of community college education. Bloomsbury Publishing, USA.

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