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America’s trust in higher education is plummeting. According to a recent Gallup poll, only 36 percent of people surveyed have “a great deal” and “quite a lot” of confidence in the institution, marking an all-time low.
As colleges continue to raise tuition and student loan repayments resume, Generation Z is seeking alternative options for their careers. The appeal of a college degree is diminishing, with companies like Google, IBM, and Delta dropping their four-year degree requirements, and other corporations increasing minimum wage. Inflation concerns have also led many individuals to re-evaluate their career paths.
However, research consistently shows that a college degree is still a worthwhile investment for financial stability and overall well-being.
Here are three compelling reasons why your student should consider pursuing a college degree.
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First, a college degree offers one of the best returns on investment for future success. Studies indicate that individuals with a bachelor’s degree or higher earn significantly more over their lifetime compared to those with only a high school diploma. The median earnings for bachelor’s degree holders amount to $2.8 million, 75 percent higher than individuals with no more than a high school diploma. Furthermore, the highest-paying occupations in our nation require at least a graduate degree.
Additionally, a college degree provides greater job security. According to a report by Cengage Group, nearly two-thirds of employers still require a degree for entry-level positions. The unemployment rate is also significantly lower for individuals with a bachelor’s degree or higher (2.2 percent) compared to those with only a high school diploma (4.5 percent).
While a college degree offers financial stability, it also allows students to explore their interests and develop a range of skills, whether through classroom learning or hands-on experience. College courses provide valuable insights into potential career paths and expose students to various opportunities without the commitment of a lifelong career choice.
Furthermore, students who engage in hands-on experiences such as internships gain a competitive edge in the job market. In fact, 68 percent of students who interned with a company received full-time offers.
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Second, a college degree has positive implications for your student’s well-being. Generation Z has seen a rise in mental health issues, with over two in five individuals being diagnosed with a mental health condition. Higher education institutions are at the forefront of addressing this concern by providing mental health services. For example, our university offers access to licensed mental health care providers through a campus counseling center and a 24/7 online service.
A recent report by Lumina and Gallup reveals that bachelor’s degree holders are more likely to report excellent or very good health compared to individuals without higher education. They are also more inclined to engage in exercise and seek preventative health care when needed.
College campuses offer a diverse environment where students can interact with peers from various backgrounds, build a sense of community, and establish lifelong friendships. The same Lumina and Gallup report highlights that bachelor’s degree holders are more likely to engage in social behaviors with friends, family, and neighbors, contributing to their overall well-being.
College students stand in their caps and gowns at graduation. (Silas Stein/picture alliance via Getty Images)
Finally, a college degree can enhance your student’s civic engagement. Research shows that individuals with a four-year degree are more likely to participate in the political process, volunteer in their communities, and contribute to charities.
Higher education institutions play a crucial role in instilling the importance of civic duties. Through courses, guest lectures, seminars, and school clubs, students learn about good citizenship. Voting is a pivotal step in creating change, and many college graduates understand the significance of exercising their right to vote. In the 2020 presidential election, there was a higher voter turnout among individuals with at least a bachelor’s degree.
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College graduates also recognize the value of giving back to their communities through both their time and finances. According to the Lumina and Gallup report, 67 percent of bachelor’s degree holders donated to charity in the last 12 months, compared to 38 percent of U.S. adults with no higher education. Furthermore, the rate of volunteering nearly doubled among bachelor’s degree holders compared to those without higher education.
Many colleges, including ours, offer students opportunities to volunteer locally and globally, allowing them to understand the significant needs of the world. Volunteering not only benefits the communities served but also positively impacts the physical health of students.
While it may be tempting for your student to jump into a full-time job immediately after high school, they should consider the long-term investment. What might seem attractive now may not align with their future financial security and true career aspirations. A college degree not only benefits the individual who obtains it, but it can also make a profound difference in the lives of others.
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