College is Worth It! And, so are You!

A national conversation on the value of a college degree is heating up.? We hear about it on the media outlets nearly every week and our friends and families are talking about it.? There are more questions now about the value of a college degree than ever before, with most questions centering on the rising cost of pursuing a college education.? I see on my LinkedIn feed the number of people that are devaluing higher education (yet, interestingly, many of these same people have a college degree).? See, this is where things get interesting and a little confusing.? Are people saying that college is nice, but it is just too expensive nowadays? Or are they saying it’s not worth the investment at any cost? And, most importantly, does all this debate about the value of a college education imply that you should not invest in yourself???

Tuition and associated college costs are a vital consideration, but when determining the ‘value’ of a degree, you must dig a little deeper into costs and look beyond the bottom line. But first, let’s look at that tuition. Did you know that not all colleges have the same costs for tuition? Colleges have different rates, and some are more expensive than others.? For instance, in West Virginia, you will find that Fairmont State University has one of the most affordable tuition rates for in-state students.? I am an Associate Vice President for Enrollment and Student Life at Fairmont State and I can attest to the university being strategic in not raising the costs of tuition over the last several years to ensure that we provide access to our in-state students (many of whom are first-generation college students, a demographic we are committed to serve).?? COVID has been hard on West Virginia families, and we acknowledge that.? With rising inflation in the country, there are many cost-savings initiatives that universities in the state (including Fairmont State) are implementing to ensure that you can go to college.? Students and families have told us that living on campus is expensive.? We acknowledged that feedback and as a result Fairmont State lowered the cost of one of its residence hall rates in 2022 to provide opportunity for students to live in Housing and experience being on campus.? That same initiative is continuing for 2023, cutting the cost of one semester’s worth of housing in half. You can live on campus, there are ways to pay for it! Let’s talk about that and explore other ways to pay for college.???

I shared with you in a prior article, that my MawMaw and parents encouraged me to go to college.? And I remember wondering how I was going to pay for it. Like many of you, my family didn’t want me to take out large amounts of student loans. When I was 19 years old, I applied to be a Resident Assistant (RA) at West Virginia University.? The selection process was competitive, and I remember not even understanding the full scope of the role.? I knew that I wanted to help other students, wanted to meet more people and belong to a team, and it would help offset my total cost of attendance.? Being an RA transformed my college experience and led me on the path to where I am today.? Being an RA saved me thousands of dollars in Housing and Meal costs. Was it hard work? Yes! But it was so worth it!????

There are many job opportunities for students on college campuses. Universities will have opportunities for students to work in student unions, the dining hall, residence halls, tutoring labs, etc. These are often hourly positions. You can (also) apply for Federal Work-Study.? Work-Study means the Federal Government is paying for you to work in a position on campus.? Not all students are eligible for Work-Study and the FAFSA (Free Application for Federal Student Aid) is the tool to help determine your eligibility.? All students are encouraged to complete the FAFSA. The FAFSA will help you determine other financial resources that you may be eligible for, like the Federal Pell or West Virginia Higher Education Grant.? It’s important for you to know that you do not have to pay back grants.????

I encourage you to think about scholarships as another opportunity to help you offset the total cost of attendance. Most universities have a scholarship application process.? It’s important to remember that while many scholarships are based on merit, some are not. There are scholarships that may be tied to your hometown, a place of employment, organizations, community service, or special interests. Scholarships do not have to be paid back; they are an award. ?

So, let’s talk about loans! While I do not encourage students to take out inordinate amounts of student loan debt, I will never tell you that considering loans as an option is a bad idea.? In fact, I would argue that taking out a loan to help subsidize some of your cost of attendance for your education is investing in yourself.? This loan is very different than a car loan, which often supports something that depreciates in value.? Your education does not. Your college education will increase your life’s earnings and provide you with agility in your career.? Your college degree gives you freedom to change careers and you are less likely to face unemployment.? And, depending on your career choice, you are likely to make more money. The U.S. Bureau of Labor Statistics reported that “workers age 25 and over who have less education than a high school diploma had the highest unemployment rate in 2019.” They further cited those employees with graduate degrees had the lowest unemployment rates and highest earnings.??

It’s my hope that you challenge the narrative that college isn’t worth it! You can go to college without mounds of debt and there are many opportunities to lower your cost of attendance.?I talked with you about the different ways that you can lower costs to attend and complete your degree. And, whether you started a degree years ago or you are just getting started, now is your time! I can’t stress enough the future of West Virginia and its youth is relying on us to value post-secondary education.? College is worth it and so are YOU!???

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