Even if college may not be the ideal investment for you personally, it is also not a financial waste. It’s a large one, so you need to ensure your investment will be worthwhile. If not, you might want to reevaluate if going to college is the correct choice for you.

An excellent method to broaden your horizons and acquire new knowledge is through college. Additionally, it allows you access to numerous training programs and works chances, which can aid in your search for excellent employment following graduation. However, not everyone can afford college tuition, so it’s crucial to understand how much it will cost you before making this significant investment.

According to The College Board, the average annual cost of attending a public four-year university in the US is $17,000. Private institutions are a bit more expensive, costing $30,000 to $50,000 annually, but they are still less expensive than the educational systems in most other nations or community colleges in the United States (which range in price from $11 to $16k).

These figures do not yet fully describe how much money you will need in addition to tuition charges because they do not account for book fees or other costs. However, they offer us a rough idea of how much it will cost if we wish to take our kids.

But why wouldn’t everyone just go if it was worthwhile to spend the money on? Why aren’t more people interested in going? Why do so many individuals refuse to attend?

It’s because attending college is costly. Only a select few people can afford to go because it is expensive to do so. The majority of individuals don’t make enough money or have enough money saved to afford there, and even if they did, many colleges demand approximately $50,000 in annual tuition! For some low-income families, that sum of money is enormous.

What then should someone do if they wish to attend but lack the funds or savings to do so? There are several choices available to make college simpler for them (such as grants), yet some students feel like they still need more assistance.

Let’s examine some of the benefits and drawbacks of attending college.

Pros:

• It equips you with abilities like writing and speaking clearly, which are difficult to obtain in the industry.
• If you’re intelligent and driven enough, you can land a fantastic career right out of college. This could result in you being paid more money than you otherwise would have been.
• College-going students have easier access to financial help than non-matriculating students.

Cons:

• The average public institution in the US costs about $50,000 a year to attend, making college expensive. Even if you receive scholarships or loans, it will still be expensive for your parents because this is more than what the majority of parents can afford on their own (or maybe even more expensive).
• You’ll most likely need to live away from home for at least four years, which means you won’t be able to spend as much time socializing with friends and family as normal during that period. This might work if you don’t want to relocate far from home.