Is Higher learning necessarily Higher earnings? Most would say yes twenty years ago, when jobs were plentiful. Today most would say no. I recently asked a few random people. Most of them said no because of the recession and the percentage of people jobless. Also not to mention the fact that most jobs that use to require an associates degree now require a bachelors degree.

In order to answer this question we need to look at what an average college debt is. I looked at a few universities near me. John Carroll which is a private school will cost you $40,860 for the year. You’re probably wondering how it could cost so much? I will break it down for you tuition is 30,660, room and board is 9,150, and fees are 1,050.

That was for a student who lives on campus. For a commuter the cost is $31,710. This seems a lot cheaper because it’s $30,660 for tuition, and $1,050 for fees. So if you don’t live on campus you save $10,000. That’s one year most students take up to 4 to 5 to get their bachelors depending on their field. That is almost $160,000 they have to pay back. These costs do not include your books and transportation to get to school. A public school such as Cleveland State University will cost you $20,174 a year. To break it down tuition and fees are $11,974, and room and board are 8,200. That is for a student living on campus. If a student is a commuter it would cost $11,974 per year. These costs do not include books, transportation, car problems, and all other problems that we encounter that could affect our money that is required for school. That means that a student going for their bachelor’s degree would pay $ 47,896 depending on their field if they are a commuter. A student living on campus would pay $80,696 for their bachelor’s degree.

Note that these yearly cost are based on 4 years for a bachelor’s degree, depending on outside factors a bachelors degree can take 4 to 6 years. Outside factors are working full-time, having a family, can only take night classes, and also having to retake courses because you didn’t pass it the first time. Now I know what you’re thinking what about a community college?

To answer your question I will use another school near me. For a Full-time student which with most insurance companies is 12 credit hours the cost would be $ 3,209.40 a year. Note this is without transportation, books, and other outside expenses. That means for an associate’s degree which takes 2 years depending on outside factors will cost you $6,418.80 a year.

Now let’s talk about loans I chose Charter one bank. A fixed rate would be 6.75% and that is the lowest. A variable rate is 2.70% and that is the lowest. They also only give a 6 month grace period to start paying the loans back. Which most loans will only give you 6 months grace period; unless you go back to school then you don’t have to pay till you’re out of school.

Now that we have looked at private, public and community colleges, you make the choice is higher learning even worth it anymore. There is no guarantee you will get a job. No guarantee you will make that money you invested in college back. There are other choices you can join the military but anything today is a gamble.