College Tips: Should You Go To College?

Looking for some college tips? Well first of all you should consider whether or not college is your best option. College is not for everyone and if you’re not going to give it your best effort, it may not be the best option. Talk to people you trust to get college tips. Seek out a broad range of successful people and ask their opinion based on what they know about you. Then take their advice and perform a self-examination and come to your own decision about what’s best for your future.

Contrary to popular opinion, a college degree is neither a requirement for success nor a perfect indicator of a flourishing career. Bill Gates is the richest man in the world and he does not have a college degree so that should be proof enough that you don’t need a college degree to be successful. But Bill Gates also had tremendous drive and determination to succeed so don’t take his lack of a college degree the wrong way.

So considering the price of a college degree, here’s the $100,000 (or more) question: Is a college degree worth the cost and effort? According to the most recent data, the answer is a resounding yes so brush up on your college tips and get your college admission application in the mail.

It certainly is easy to reach the conclusion that the escalating cost of tuition, room, and board are worth going into debt over. But try thinking of them as a long-term investment rather than expenses and you may think differently. The return on your investment in a college education will more than likely work out in your favor over the long haul. So the latest college tips say go get a degree.

Recently a well-known economist from the elite University of Chicago delivered a commencement address in which he shared the data from his research. He noted that in 1980, the “wage premium” paid to college graduates was about 35% on average meaning that those with a college degree could expect on average to earn 35% higher wages than their counterparts who had only a high school degree. That’s a pretty good college tip that getting a degree is a good investment, but it gets even better.

The data shows that the wage premium had doubled by the 1990s to over 70%. If you’re considering a graduate degree the news is just as good. The wage premium for those with graduate degrees also doubled over the same time frame from 45% to 90%.

The conclusions reached from the broad study of economic data over a long period of time indicated that the value of a college degree nearly doubled over a 15 year period. As the number of college graduates increases, the wage premium is likely to taper off at least a little bit. Nevertheless, according to this University of Chicago economist, the economic value of a college degree will make it a sound investment for years to come.