College Education's Cost Benefit Analysis
College Education's life impact and Cost-Benefit Analysis
It is crucial to weigh the costs and benefits of investing in a college education because it is a future investment. In Stossel (2018) YouTube video, he goes over the many advantages of higher education and how working toward a degree can help to lessen or eliminate life's imbalances. It is important to think about the potential advantages of attending college in addition to the cost. A university degree can provide access to jobs that would not otherwise be available. Additionally, it might make it possible to obtain higher pay. In my review, I find that college education can narrow some of life imbalances by providing access to better job opportunities and potential to improve socioeconomic status, promote personal development and boost networking. Nonetheless, it is vital to understand that college education is a valuable opportunity but may not automatically bridge life imbalances. Therefore, I think that factors like field of study, available opportunities and dedication can influence the outcome.
According to Chambless (2019) cost-benefit analysis is important when evaluating the potential outcomes of investment decisions. There are several things to take into account when estimating the price of a college education. I did calculate the expenses related to attending college besides tuition, fees, and books, which are undoubtedly significant. These included living expenses, the cost of transportation, and the potential cost of not working. I also looked at the earning potential of graduated in my field of study and compared it to the average earning of graduates with a major in it. I also considered demand for graduates in my field of study which gave me insights on the potential for getting a job. Lastly, I considered the length of studies and how this could affect my earning potential and career prospects. According to Nayar (2018), the duration of the curriculum and the type of degree that will be obtained must also be taken into account. Valencia College was my first choice because it provided a high-quality education at a reasonable cost. I also ended up choosing a major that I thought would result in a successful career.
In conclusion, attending college is a wise investment in one's future. Before making a choice, it is crucial to carefully weigh the expense and potential advantages of a college education. My decision to attend Valencia College for my undergraduate studies was influenced by my interests, the cost-benefit analysis and a fair comparison.
