This month, my work as a competitive debater forced me to analyze whether or not the costs of a college education outweigh the benefits. After arguing for and against this resolution, I have come to the conclusion that the benefits of a college education do outweigh the costs.

Enrico Moretti of UC-Berkeley explains that the economic impacts of people attaining a college education extend far beyond the realm of the individual. A 1 percent increase in the labor force share of college graduates in a city drives wages up for all workers. More specifically, 1.9 percent for individuals without a high school diploma, 1.6 percent for individuals with a high school diploma and .4 percent for college graduates. Moretti explains that these changes occur as a result of the labor market changing with an influx of educated individuals and the increased productivity associated with a more educated society. The fact that everyone benefits from a minority of the population going to college illustrates how the benefits of a college education will always outweigh the costs on a holistic basis.

Further, Ron Haskings of the Brookings Institute explains that attending college allows individuals from poor socio-economic backgrounds to ascend into new income brackets, ultimately leading to increased economic mobility. Haskings furthers that only 5 percent of his statistically significant sample ascended from the bottom fifth income bracket to the top fifth bracket without a college education, whereas the rate was close to 20 percent for those that attended college.

Finally, it was been empirically determined that attending college has various health benefits. Elizabeth Cooney of the Boston Globe reports that a recent Harvard study found that the life expectancy of college graduates is six years longer than non-college graduates as the attainment of a college degree leads to better access to healthcare services and information. In addition, Henry Levin of Columbia University explains that while a high school graduate will receive $23,200 in Medicaid or Medicare payments over their lifetime, a college graduate will only receive $3,600. This $20,000 differential is substantial and proves that a college education corresponds to individuals leading healthier lives, a very important social benefit that stems from attending.

Moreover, while the costs of a college education are substantial, I have come to the conclusion that they are outweighed by the benefits that come from attaining a college degree. The federal government is actively working to increase access to college and combat the student loan debt crisis; solving the cost problem will increase the ability of many Americans to attain a quality education.

By: Chad Klitzman