Cost and Benefit of College

It is said that you start ageing once you stop learning; college is a place where knowledge is transferred. Some students go to college because they are compelled to do so and not because they want to gain any knowledge from college.

Although college contributes greatly to an individual’s success, it does not come without a cost. Before deciding to go to college, both parent and student must consider the cost and benefit of college, to decide if it would be a worthwhile venture. This cost and benefit analysis must be properly carried out; if the benefit outweighs the cost, then college is a worthwhile venture and can be embarked on but if the cost outweighs the benefit, then it would amount to a loss.

The cost of attending college starts from the time taken out to search and decide on which college to attend and the choice of course to study down to the last penny that would be spent upon graduation from college. College cost does not necessarily mean the financial burden, it also includes the physical and non-financial burdens that arise as a result of making a decision to go to college. The tuition, cost of textbooks and stationery form part of the financial aspect of the burden; on the other hand, the time spent in attending lectures which could have been invested to acquire some wealth form part of the non-financial aspect of the burden.

The benefit of attending college also starts from the joy and satisfaction derived when applying to college to the certificate earned after successful study at the college. There is no doubt that college is where some people are made (if not most people). There are a lot of benefits derived from college; the social network built in college could be very helpful later in life, the knowledge acquired from college is a crucial part of an individual’s life, the connections made and many more are the benefits that can be derived from college.

The result of the cost-benefit analysis of attending college would differ for individuals as people have their different goals in life. For an individual who just wants to acquire wealth, college might be an expensive venture to him as it would seem a waste of his time which can be used to pursue his dream; after all, he can still employ the “bookies”. For an individual who is aspiring to be a professional, college might be the best option and the most profitable venture for such as the knowledge that would be acquired in college would go a long way to shape the individual’s professional career.

After comparing the costs and the benefits of attending college, a wise and careful decision should be taken bearing in mind that it would be worthwhile to invest in college if the benefit is more than the cost and it would be a loss and a waste of time to attend college if the cost is more that the benefit.