It is common place for students leaving high school all over America to consider the pros and cons of going to college. While it is unanimously accepted that a college degree will greatly increase your earning potential when leaving college, this is almost always weighed against not only the lost earning potential of getting a job out of high school and the hands on experience desired by employers, and the fact that the monetary cost of going to college and a debt that will last for a large part of your adult life.
Fortunately with the amount of financial aid available from both state and private sources, those in the most financial need are able to get extra financial assistance to go to college and get a degree. One of the most famous and well recognized financial aid packages available to students with financial need is a Pell Grant, which is issued by FAFSA a government organization. Your eligibility for a Pell Grant is based on the combined household income of your parents and in most cases you have to be a United States citizen to apply.
Even with the potential to receive financial aid, a lot of people come out of high school ready to be independent and get stuck into their first real job and start earning their own money. What needs to be remembered is that at the time while getting a job straight out of high school may seem financially advantageous, your future earning potential will cap out a lot sooner and you will see people with college degrees promoted ahead of you into higher paying positions, even with less experience. As a result of this college has to be seen as an investment for the future and to ensure that once you are into a career, especially one outside of the manual labor sector you will need a college degree to get a foot in the door and get promoted through the company.
It is also worth remembering that your student loan repayments are in most cases tied to your income, so you won't be left paying more than you can afford as you come out of college and as your earning potential increases your payments will increase with it and you will be able to pay off your student loan faster. In the majority of cases the student loan does not negatively impact your credit score either, a concern many students have about coming out of college with such large amounts of debt, especially when starting out on their adult lives and looking toward a future of houses and cars free of parental influence.
No comments:
Post a Comment