Over the last decades, going to college has gone from being seen as a golden ticket to a source of significant anxiety. College costs so much and takes up so much time … is it really worth it?
Some studies have shown that up to a third of college graduates feel that their degree wasn’t worth the cost.
But a new report from the College Futures Foundation shows that in California, college is almost always a good investment. Nine out of 10 college programs in California improved their graduates’ earnings enough that they could recoup the costs of going to college in five years or less.
That’s especially true with community colleges offering associates degrees, which have lower costs and a high earnings premium: 65% of those programs allowed graduates to recoup costs within just one year.
The best results for graduates came from public institutions like community colleges: 97% of graduates from public institutions in California were able to earn back the cost of obtaining a credential within five years, and nearly half were able to earn it back within a year. But only seven percent of graduates at private non-profit colleges were able to recoup their costs within 12 months, and nearly a fifth of the programs at for-profit colleges showed no economic benefit at all.
There are still challenges, and college is still not accessible enough, but in California the answer to the question “Is college worth it?” is overwhelmingly “Yes.” Especially at the community college level.
Making College More Accessible And Less Risky
California is not resting on its laurels. Five years ago Calbright college opened its digital doors to students. Calbright is a California community college specifically designed to make college as accessible as possible and take the risks out of going to college.
Calbright graduates are likely to see economic benefits, with more than 70% of students surveyed saying that Calbright has helped them progress in their goals. Students like Maurice, Alicia, Binh, Paul, Vanna, and more credit Calbright with helping them get new jobs and take their careers to the next level.
But Calbright also made college a no-risk/high-reward proposition.
- Calbright is free to all Californians, so there’s no financial risk or sacrifice.
- Students at Calbright can take classes on their own schedules, whenever it’s convenient for them.
- While students study at their own pace, all of Calbright’s programs are designed to be completed in a year or less – sometimes much less – and so the time commitment is often minimal.
- There’s no complicated paperwork or bureaucracy. Calbright keeps it simple.
In California, College is a winning proposition, and at Calbright it’s a risk-free one. That’s good for students, and good for the economy.
