Very few things in life are as rewarding as a higher education. Not only can a college experience help young people to clarify their interests, it can also open up a much broader range of career opportunities to them. Even more importantly for many people, those careers are likely to be in fields that the individual finds inherently enjoyable. In addition, a college degree generally enables individuals to earn a living with their minds rather than their hands. In general, this means a less strenuous lifestyle – but ironically, it also means a more lucrative one.
Benefits of a College Education
College graduates earn more than those who never attended at all or attended but failed to complete a degree programme, and this ‘earnings boost’ only accelerates as students pursue additional levels of university training. In the UK, university graduates earn approximately 25% more than students who never progress beyond their A-Levels. That differential may not sound like much, but when it accrues year after year, it can add up to as much as £160,000 during a lifetime.
College is not free, of course, but the wide availability of education loans means that it well within the reach of the common man. Universities UK has even determined that the earnings boost is greater for those from poor backgrounds than for those who come from wealthy families, making it even more essential for such people to seriously consider taking out education loans in order to secure their future via higher education.
The Career Boost
The earnings boost is far from the only reason why a college education is beneficial. In many businesses, it also opens the door to new kinds of careers. Many managerial and administrative positions require a college degree as a prerequisite to advancement. Those who lack such a degree can never get very far in their careers in such companies; no matter how long and loyally they have laboured, the firm will adhere to its policy of advancing only college graduates up the ladder toward the most prestigious positions available.
Companies have excellent reasons for such policies. They have learned through experience that possession of a college degree is a highly accurate indicator of valuable qualities such as confidence, perseverance and keen insight. University graduates also possess the ability to work cooperatively to complete joint projects, a skill that is in high demand across many industries. Businesses need leaders as much as they need followers, and a university education encourages the development of a wide array of leadership traits.
Financing a College Education
Those considering college should enquire at several different sources to learn about current terms and conditions for today's education loans. At the same time, they should investigate the true costs of attending a university. In order to determine the right amount to borrow, prospective students should factor in all sources of revenue, including a part-time job and any grants or scholarships that can be obtained. Any remaining shortfall can be borrowed with the expectation that higher earnings in the future will enable full and prompt repayment of the loan balance.