College is Expensive - Should You Go?

by Perriann Rodriguez

A College

Degree is Expensive! Period.

Even if you are looking at an in-state college or university and plan to live at home, the costs can be a little overwhelming. Just to give you a few examples

from Top 10 colleges:

Purdue University: In-state tuition as of 2006 is: $7,096 per year. A 4-year

B.S. Degree at these rates would be: $28,384. For comparison purposes, we will not look at room/board numbers.

Ohio State University: In-state

tuition as of 2006 is: $8,667. A 4-year B.S. Degree at these rates would be: $34,668.

Iowa State University: In-state tuition as of 2006 is $6,135. A 4-year B.S. Degree at these

rates would be $24,540.

Michigan State University: In-state tuition as of 2006 is $7,665. A 4-year B.S. Degree at these rates would be: $30,660

So, as you can see, when you start looking at total numbers it is very clear that college will cost you some money. You ask, is it really worth it?

Absolutely is the answer. The U.S. Census Bureau released research from 2003 about the average starting salary for high school graduates, college graduates, masters and doctorate graduates. The average starting salary for a high school graduate was $21,948, while college graduates earned nearly twice as much at $40,287 and Master Degree graduates at $50,020. Doctorates and professional degrees earned the most at $64,372 and $75,322.

And if that is not enough to convince you, the National Association of Colleges + Employment release their Spring 2006 Salary Survey results. The starting salaries for college graduates range from $30,000 for liberal arts majors to $56,500 for chemical engineering majors.

If you were to take these numbers, assuming no increase in salary, you will be making almost double the amount of annual salary with a college bachelors degree than you would with only a high school degree.

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