The education and career choices that adults make during their youth can have a great influence on their future professional and personal lives. The education they choose to attend influences their career choice, and their career choice influences their entire professional future. Some individuals have a clear idea in mind of what they intend to engage in professionally. They choose their college, university, and other educational options in accordance with this idea in mind. They choose their profession in accordance with the objectives they want to reach in their professional activity. There are also other individuals that are unsure of what they want to achieve professionally. They cannot decide upon some educational and professional direction, so they oscillate between different majors and jobs.
The career choice and the college making decision are influenced by numerous factors, like economic, social, and psychological factors. Social factors refer to the influence that the environment in which individuals are brought up determines them to select a variant instead of another. This means that young people's families, group of friends, and celebrities they look up to have great influence in their decision making process. Psychological factors refer to the skills and abilities that determine individuals to choose certain educational directions and careers. Some of them are extraverted and prefer working in teams, working with many people, while introverted individuals prefer process oriented jobs.
The college making decision has great economic impact on the individual's life. The family of the student is also affected by this decision. In most cases, students require additional financial resources from their enrollment colleges or universities.
Therefore, it can be assumed that the student that enrolls in a college or university, and his family are affected economically. This issue in such cases is that the economic impact takes place on a long period of time. This is because parents that have higher education plans for their children must save for decades in order to afford this. By saving this money, they cut back on other activities, like holidays and trips, expensive clothes, homes, cars, and others. In addition to this, in most cases, students go to colleges and universities that are not in their hometown. In addition to college tuition, they must add the costs of transportation, of rent, and others.
In order to be able to keep up with expenses generated by attending higher education, most students get jobs where they are paid minimum wages. These are jobs that do not necessarily stimulate them intellectually. Therefore, instead of studying in their spare time, they are forced to work. This means they spend less time studying in comparison with how much they should be studying. This affects their academic performance. In the case of students on scholarships, the school can decide whether the student in case should be receiving the scholarship in the future.
The Economic Factors that Influence the Decision
Economic factors are probably the most important factors when it comes to the college making decisions. Some of the economic factors that are weighted when making such a decision are represented by the total costs of attending the college in case, scholarships, financial aids, family income, and others. In order to identify the most important economic factors that determine people's college making decision, it is important to study the results of different surveys developed in order to understand the college making decision behavior of individuals.
Therefore, such a survey developed by Fastweb.com and Maguire Associates has revealed the fact that 37% of seniors reported that the current economic conditions have significantly influenced the selection of the college they enrolled in. In addition to this, 31% of people that did not enroll in their first choice college stated that this happened because they could not afford it. Other important reasons revealed by the survey as important in the college decision making were the scholarships provided by these colleges, and the financial assistance that students can receive from these colleges (Berry, 2013). It seems that 56% of the surveyed seniors received need-based financial aid from their enrollment schools.
From the results of the study it can be observed that economic factors have great weight when deciding what college seniors attend. Families are aware of the financial implications of attending higher education. Those that want their children to go to college save money for decades in the anticipation…