Value+of+College

=What is the true value of a college education?= Erin Caldwell, Emma Meyer, and Maria Charbonneau

I. Description of Problem or Issue
Lead Editor: Emma Meyer

The issue that will be addressed within this paper is whether or not a college education is truly worth the investment. In order to obtain a comprehensive view so this question may be addressed, the average debt accrued by college students due to the rising cost of tuition, along with the value of life without a four-year college degree, and the difficulty of being accepted at public universities will be explored. This issue it important to discuss because educational reform is focused upon the advancement of the student in order to become a productive citizen within their community, generally by furthering their secondary education with some form of college, but the true value of this ultimate goal has yet to be determined. Within the RI Strategic Plan this issue is addressed in their belief section, stating that " A quality education is a lasting personal treasure that expands opportunities throughout life", but with the rising cost of tuition such opportunities may be limited. Only in recent years has the question been asked is college really worth it, due to monstrous student debt and a struggling economy/job market. With this hesitance now surrounding the investment of college, it is important that this question be addressed for those exploring what options are best for their future aspirations.

II. Relevance of Problem or Issue in Rhode Island Schools
Lead Editor: Erin Caldwell

The cost of a college education is an especially hot topic across the nation and of course in Rhode Island. Whether you attend a public, private, or charter school each student in Rhode Island wishing to further their education is faced with the daunting task of financing it. While students from every type of school come from diverse socioeconomic statuses as we learned in our context reports, it is obvious that some students with the ability to finance a private education may have an easier time financing a college education. And although the Rhode Island strategic plan does not specifically highlight any goals for further education, it is quite adamant about the importance of education as a whole. RIDE writes "A quality education is a lasting personal treasure that expands opportunities throughout life" as its final belief. Of course this is easier said than done. While Rhode Island public schools can vow to provide their students with the tools necessary to move forward onto higher education, what are the chances that they will each get there with the astronomical cost of college as another hurdle on an extremely long road?

III. Relevance of Problem or Issue to the Charter Schools Movement
Lead Editor: Maria Charbonneau

Charter schools, at a secondary level, offer some students an alternative to college educations in pursuit of particular fields of studies. Because college tuition costs are expensive, students increasingly are choosing to attend focused charter schools rather than college. If this trend continues, certain career fields may not be offered at a college level if charter schools become more popular as the less expensive option. For the students who decide not to go to a traditional four-year college, there is the potential that they may attain a middle-skilled job that requires less formal schooling and more career-oriented training. However, the monetary value of a career without a college education may not be higher than, or even on par with, a career obtained with a college degree.

IV. Research Summary
Lead Editor: Emma Meyer

With increasing college tuition costs, college students are now facing a nationwide crisis that will be explored by Maria Charbonneau in her research question "what is the average student debt for college students?" It is very easy- almost too easy- to charge the cost of tuition to a plastic credit card. While there is immediate relief by doing just that, debt quickly builds. The statistic showed that 24% of American college students pay for college with a credit card. However, when students cannot make repayments on time, their financial standing with banks becomes very poor. As a result, it is harder to borrow in the future. Harkins, an contributing writer to one the summary article that is analyzed, argues efficiently that colleges should make themselves “transparent.” By doing so, the student knows //exactly// he/she is paying for and can plan accordingly because no costs would be a surprise. As a result, borrowing would be “smarter” and there would be fewer instances where students cannot repay what they have borrowed.

The research question "what is the value of life without a college education?" completed by Emma Meyer explores what alternative options, if any, a person would have occupationally without attaining a four-year college degree. It then goes on to compare these options in terms of value to a traditional bachelor's degree. What may be concluded from this research is that in general, those with only a high school diploma or less have very bleak future prospects both in terms of finances and employability. Additionally, those who choose not to complete the traditional college route have the very promising option of attaining a middle-skilled job that requires less college, and is more vocationally career-oriented. This would entail that the monetary value of life without a college education cannot still without some form of post-secondary career-training program.

The research question centralized around public universities and the rising cost of tuition completed by Erin Caldwell yielded another issue around education reform entirely. While students are aware that higher education is often essential in leading a robust and lucrative life as Emma's research indicated, the cost is a major factor, as indicated by Maria's research. Students are putting themselves in astronomical amounts of debt, even if they do not attend a private university. For many students public education is the only option they can afford, especially during the college years and many students are worried that they may be sacrificing the quality of education they receive by attending a school that is simply more affordable. Public universities are trying to keep students fears at bay by keeping up with the Jones' so to speak and adding flashier facilities, more qualified staff and more competitive and innovative programs. However, this costs, //a lot//. Charter schools help to alleviate the pressure of needing a college degree slightly by providing students with technical schools necessary to secure jobs in a number of fields. However, in the end research shows that the majority of students will do just about anything to get their education including flooding public universities in hopes of getting the almighty college degree.

V. Group Product Overview
For our presentation, Maria will begin with an anonymous, interactive survey in order to engage the class. It will also inform us to what extent finances affected the individuals within the class in regards to college, and the value of their education thereafter. Erin will then explain the purpose of this exercise and introduce our topic of the true value of a college education and why it is so important to educational reform. Maria will then talk about the massive amounts of student debt students today are facing, and the crisis it is causing within the nation. The discussion will then be turned to Emma who will discuss the value of life without a college education, and alternatives to the traditional bachelor's degree. Erin will then talk about public universities and the rising cost of tuition. The presentation will close with Emma explaining the relevance of this issue in both Rhode Island and charter schools. To ultimately conclude the original question of "what is the true value of a college education?" will be answered.

VII. Research and Reference Summaries
Lead Editor: Erin Caldwell


 * || **Research Question** || **Researcher** ||
 * 1. || What does a college student face in terms of tuition and subsequent debt? || Maria Charbonneau ||
 * 2. || What is the value of life without a college education? || Emma Meyer ||
 * 3. || Public universities and the rising cost of tuition || Erin Caldwell ||
 * 4. ||  ||   ||
 * 5. ||  ||   ||

VIII. Group Reaction/Opinion(s) about Issue
Lead Editor: Maria Charbonneau

While there is much debate about what is the best course to tackle the “college affordability crisis” head on, it is much agreed upon that there certainly is a college affordability crisis. College tuition is becoming increasingly more expensive for students to attend and there are not that many payment options for students. Of course, there is the very tempting “credit card solution,” as many do choose to use, but statistics show that the debt that is incurred quickly becomes a weight around the student’s neck. Furthermore, as soon as the debt builds, banks are less likely to loan again to the student. As a result, the bad borrowing choices a young adult makes during college years can affect the rest of his/her life. It is our opinion that this system of borrowing and lending is unfair for college students. Not only are most schools not “transparent enough” for students to know what //exactly// they are paying for, but also most college students are inexperienced with managing money to such a huge extent. It is frustrating to think that the choice of borrowing money could dictate a student’s financial standing for the rest of his/her life. The prospect of paying for college is daunting because for many, borrowing is a necessity. However, with such a high interest rate, debt is unavoidable.

This accrued debt may be worth the return on investment depending on the career paths available to certain bachelor's degrees. For those who are uninterested or unable to attain a four-year degree, alternative options such as a vocationally focused career-training programs that lead to secure employment and financial stability are available. Those with only a high school degree or less generally struggle economically, while those with associate's and bachelor's degrees are more successful, entailing that de spite it's many setbacks of debt and no guaranteed future security, college in general seems to be worth the value.