The case for universal college attendance

Education

In today's social and economic climate a college education is vitally important. Acquiring a college education is essential to becoming employable and having a productive life. The purpose of this paper is to explain why everyone could benefit from a college education.

The need for a college education has not always been as essential as it is today. According to a book entitled Liberal Education and the Corporation: The Hiring and Advancement of College Graduates until the 1920's seeking a college education was only required for people such as lawyers and doctors (Gruyter and Useem). However since this time a college education has become an essential component to gaining access to the corporate world.

The book explains that Although college degrees have long been the expected foundation for the medical and legal professions, it was not until this era that business turned to higher education for the socialization and preparation of its future leadership. The emergence of the large, multidivisional corporation, the rise of what business historian Alfred Chandler has termed the "visible hand," placed a premium on sophisticated decision making, increasingly recognized as a developed rather than intuitive skill. As the first generation of entrepreneurial founders was gradually losing its grip on the executive suite to a new generation of professionally trained managers, college came to be viewed as a major avenue of preparation." (Gruyter and Useem)

The current job market is such that it is difficult to get a job even if you do have a college education. Not having a college education is even more of a disadvantage. In fact many people are returning to college to receive a graduate, so that they have the ability to compete for top paying jobs or more desirable positions. An article found in SAM Management Journal explains college graduates are facing one of the tightest job markets in years. In fact, the number of positions available to graduates decreased more than 36% from 2000 to 2001 (Mattingly, 2002). and, according to the National Association of Colleges and Employers (2002), this trend will continue as jobs for graduates are expected to decline an additional 3.6% from 2002 to 2003."(Barnett et al. 2003)

An article found in Phi Delta Kappan asserts that college degrees are fast becoming the standard in education. The article asserts that "Today, "some college" in either a two- or four-year school has become the norm. In 1997, 57% of young people aged 25 to 29 had at least some college. Many consider a bachelor's degree essential to economic success, and some foresee a day when four years of college will be the accepted standard for educational attainment, much as a high school diploma was in 1950."(Boesel 2001)

Boesel (2001) also asserts that with the tight labor market some college graduates are forced to take low level jobs. However, the author explains that the college graduates were paid more to do the same jobs and they had a better chance of being promoted. The author contends that having a college education is beneficial in increasing incomes and employability.

According to the National Center for Policy Analysis (NCPA), a college education is beneficial to the individual and society. (Education) the article explains that a college education gives an individual a set of highly specialized skills that allows for the formulation of creative ideas. (Education) the NCPA asserts that this ability to create leads to innovations in technology, which leads to greater productivity and a wealthy society. (Education)

An article found in the Monthly Labor review asserts that attracting college graduates to a city will increase the per capita income of the city. The article asserts that an increase in per capita income is beneficial because it attracts new businesses and new jobs at several different levels.

If an individual can not get a four-year college degree, they can get some benefit from an associate's degree. Another article found in the monthly labor review asserts that an associate degree can increase weekly income by as much as $128. The article explains that an associate's degree is usually granted with the completion of about 20 classes and can be received at a community college, four-year college or for profit training center. (Added value from associate degree 2003)

Indeed, in addition to gaining access to jobs in corporate America, college graduates also have other advantages over non-graduates. The most obvious advantage is upward mobility. College graduates have a higher lifetime earnings than non-graduates. As a result graduates also have a better quality of life than non-graduates do.

Post Secondary education is also important later in life. An article found in the journal Social Work Research, explains that the attainment of a college degree it especially significant with women during pre-retirement (Pandey and Zhan 2002). The article asserts that having a college degree can help in solidifying a woman's well being after retirement (Pandey and Zhan 2002). The author explains that this is significant because retired women are twice as likely as retired men to live in poverty (Pandey and Zhan 2002).

The article contends that, "Economic well-being after retirement is determined largely by lifetime earning patterns and savings. Because men and women tend to follow different pathways through major role domains such as employment and family responsibilities (Bianchi & Spain, 1996; Rossi, 1980), their economic status in later life varies accordingly (Pandey and Zhan 2002)."

The article goes on to explain that the human capital theory which asserts that "investment in human capital through education can raise future returns in the labor market even though it may entail opportunity costs in forgone short-term earnings," is essential to understanding the positive impact that a college education has during retirement (Pandey and Zhan 2002). In this particular study the authors examined the impact of education on retired White and African-American Women. This study involved 614 women; 62.9% were white and 32% were African-American (Pandey and Zhan 2002). The average age of the women was 75.5 (Pandey and Zhan 2002). The results of the study indicated that White and African-American women maintained similar outcomes across the three educational groups as the full sample (Table 2). Women with postsecondary education received significantly more in total income, social security income, and assets income than those with less than a high school degree. The relationship between educational attainment and welfare income was reversed -- women with postsecondary education received the least, and those with less than a high school degree received the most. Thus, postsecondary education plays an important role in boosting both white and African-American women' social security and assets income and in reducing their reliance on public assistance."

Conclusion

The purpose of this paper was to explain why everyone could benefit from a college education. We found that college is essential to the economic environment that we are currently facing. The investigation is proof positive that a college education makes individuals more employable and leads to higher earnings. We also found that an associate's degree is an alternative to getting a four-year degree and can enhance earnings. Our research also suggests that a college education is essential to women at the time of retirement. The aforementioned research is evidence that everyone could benefit from a college education.