Skip Navigation
Edvisors Star Logo
Edvisors Logo
  • Compare Lenders
    • PRIVATE STUDENT LOANS
    • REFINANCE STUDENT LOANS

    featured articles

    • Best Private Student Loans for May 2025
    • Student Loan Comparison: Federal Loans vs Private Loans
    • Parent PLUS Loans vs Private Student Loans
    • How Does Interest on Student Loans Work?
    • Private Student Loan Cosigner: Everything you Need to Know
    • View All Articles >
    Earnest Private Student Loan

    Variable Rates: 4.99% - 16.85% APR1

    Fixed Rates: 3.47% - 16.49% APR1

    Apply Now

    featured articles

    • Compare Lenders
    • Best Student Loan Refinance Companies for May 2025
    • Federal Student Loan Repayment Plans
    • Student Loan Forgiveness: How to Get Student Loans Forgiven
    • Repayment Plans for Private Student Loans
    • Parent PLUS Loan Forgiveness
    • View All Articles >
    Earnest Private Student Loan

    Variable rates as low as: 5.88% APR (with Autopay)*

    Fixed rates as low as: 4.25% APR (with Autopay)*

    Apply Now
  • Scholarships
    • COLLEGE GRANTS
    • COLLEGE SCHOLARSHIPS
    • EMPLOYER
    • MILITARY

    featured articles

    • What's the difference between scholarships and grants?
    • Graduate Fellowships
    • View All Articles >
    Enter to Win $2,500 to Help Pay for College

    featured articles

    • How to Find Scholarships
    • Top Tips for Winning Scholarships for College
    • Apply for Free Scholarships for College
    • Most Popular Scholarships for College Students in 2025
    • View All Articles >
    Enter to Win $2,500 to Help Pay for College

    featured articles

    • What is Federal Work Study Program?
    • Employer Tuition Assistance Programs: How Do They Work?
    • View All Articles >
    Enter to Win $2,500 to Help Pay for College

    featured articles

    • GI Bill
    • Military Service Academies
    • ROTC Scholarships
    • View All Articles >
    Enter to Win $2,500 to Help Pay for College
  • Plan for College
    • CAREERS
    • COLLEGE ADMISSIONS
    • FAFSA
    • SCHOLARSHIPS
    • PAYING FOR COLLEGE
    • STUDENT LIFE BLOG

    featured articles

    • Best Job Search Sites May 2025
    • Resumes That Get Noticed
    • High Paying Careers
    • STEM Careers
    • View All Articles >
    Enter to Win $2,500 to Help Pay for College

    featured articles

    • Measuring Academic Fit: Reach, Match and Safety Schools
    • Need-Blind Admissions
    • How Long is a College Essay
    • When are College Applications Due
    • How to Write a Good College Essay
    • View All Articles >
    Enter to Win $2,500 to Help Pay for College

    featured articles

    • Filing the FAFSA 2025-2026: A Simple Guide for Students
    • FAFSA Deadlines for 2025-2026
    • FAFSA FAQ - Your FAFSA Questions Answered
    • View All Articles >
    Enter to Win $2,500 to Help Pay for College

    featured articles

    • Most Popular Scholarships for College Students in 2025
    • Apply for Free Scholarships for College
    • College Scholarships for Kids
    • Most Prestigious Undergraduate Scholarships
    • Las mejores becas para estudiantes hispanos y latinos
    • View All Articles >
    Enter to Win $2,500 to Help Pay for College

    featured articles

    • How to Pay for College
    • Tuition Payment Plans
    • Pros and Cons: Borrowing From My 401K to Pay for College
    • Paying College Tuition with a Credit Card
    • Best Ways to Pay for College Without Financial Aid
    • View All Articles >
    Enter to Win $2,500 to Help Pay for College

    featured articles

    • Financial Aid Disbursement: When and How You Will Get It
    • Should I Pay Off My Student Loans Right Now
    • How to Minimize Student Loan Debt
    • View All Articles >
    Enter to Win $2,500 to Help Pay for College
  • Student Loans
    • FAFSA
    • PRIVATE STUDENT LOANS
    • FEDERAL STUDENT LOANS
    • REPAY STUDENT LOANS
    • LENDER REVIEWS

    featured articles

    • Filing the FAFSA 2025-2026: A Simple Guide for Students
    • FAFSA FAQ - Your FAFSA Questions Answered
    • FAFSA Deadlines for 2025-2026
    • FAFSA School Codes
    • FAFSA 2023-2024 Guide & Resources
    • View All Articles >
    Earnest Private Student Loan

    Variable Rates: 4.99% - 16.85% APR1

    Fixed Rates: 3.47% - 16.49% APR1

    Apply Now

    featured articles

    • Best Private Student Loans for May 2025
    • Student Loan Comparison: Federal Loans vs Private Loans
    • Parent PLUS Loans vs Private Student Loans
    • How Does Interest on Student Loans Work?
    • Private Student Loan Cosigner: Everything you Need to Know
    • View All Articles >
    Earnest Private Student Loan

    Variable Rates: 4.99% - 16.85% APR1

    Fixed Rates: 3.47% - 16.49% APR1

    Apply Now

    featured articles

    • Filing the FAFSA 2025-2026: A Simple Guide for Students
    • FAFSA FAQ - Your FAFSA Questions Answered
    • The complete guide to federal undergraduate student loans
    • What are Federal Parent PLUS Loans and How to Apply
    • Financial Aid for Graduate School
    • Compare Subsidized and Unsubsidized Student Loans
    • View All Articles >
    Earnest Private Student Loan

    Variable Rates: 4.99% - 16.85% APR1

    Fixed Rates: 3.47% - 16.49% APR1

    Apply Now

    featured articles

    • Best Student Loan Refinance Companies for May 2025
    • Federal Student Loan Repayment Plans
    • Student Loan Forgiveness: How to Get Student Loans Forgiven
    • Repayment Plans for Private Student Loans
    • Should You Refinance Federal Student Loans?
    • Parent PLUS Loan Forgiveness
    • View All Articles >
    Enter the Repayment Relief Sweepstakes

    featured articles

    • Sallie Mae Student Loan Review
    • College Ave Student Loan Review
    • SoFi Student Loan Review
    • Ascent Student Loan Review
    • View All Articles >
    Earnest Private Student Loan

    Variable Rates: 4.99% - 16.85% APR1

    Fixed Rates: 3.47% - 16.49% APR1

    Apply Now
  • Credit Cards
    • CARD REVIEWS
    • BEST CREDIT CARDS
    • CREDIT CARD FAQS

    featured articles

    • Petal® 2 Visa® Credit Card Review
    Self Credit Builder: Build Credit. Build Savings. Build Dreams.

    featured articles

    • Best Credit Cards for 2025
    • Best Cash Back Credit Cards
    • Best 0% Introductory APR Credit Cards
    • Best Secured Credit Cards for 2025
    • Best Balance Transfer Credit Cards
    Self Credit Builder: Build Credit. Build Savings. Build Dreams.

    featured articles

    • How to Build Credit?
    • What Age Can You Get a Credit Card?
    • What is a Secured Credit Card?
    • What is an Unsecured Credit Card?
    Self Credit Builder: Build Credit. Build Savings. Build Dreams.
  • Money Management
    • BANKING
    • BUDGETING
    • SAVING
    • DEBT MANAGEMENT
    • CREDIT
    • INVESTING
    • RISK MANAGEMENT

    featured articles

    • What is Online Banking
    • Student Checking Accounts
    • Debit Cards with Rewards
    • View All Articles >
    Chase College Checking Visa Debit

    featured articles

    • Best Budgeting Apps May 2025
    • Budgeting Tips
    • Budgeting for Beginners
    • View All Articles >
    Change Your Relationship With Money

    featured articles

    • Financial Goals
    • How to Save Money as a College Student
    • What is an Emergency Fund
    • View All Articles >
    Change Your Relationship With Money

    featured articles

    • How to Pay Off Debt
    • Debt Relief
    • What is a Debt Management Plan
    • View All Articles >
    Change Your Relationship With Money

    featured articles

    • How to Check Your Credit Score
    • Best Credit Building Apps May 2025
    • What is Credit?
    • View All Articles >
    Self Credit Builder: Build Credit. Build Savings. Build Dreams.

    featured articles

    • Investing for Beginners
    • Best Investment Apps May 2025
    • Understanding the Stock Market
    • View All Articles >
    Change Your Relationship With Money

    featured articles

    • What is Risk Management
    • How to Prevent Identity Theft
    • What is Insurance
    • View All Articles >
    Change Your Relationship With Money
  • Student LIFE Blog
  • Compare Lenders
    • Private Student Loans
    • Refinance Student Loans
  • Scholarships
  • Plan for College
  • Student Loans
  • Credit Cards
  • Money Management
  • Student LIFE Blog
Login
Register
  • Dashboard
  • My Profile
  • Logout
Search Box Form
Win a $2,500 Scholarship
Need money for college? Enter our monthly scholarship sweepstakes.
Enter Now
Advertiser Disclosure
×

Edvisors (“Edvisors Network, Inc.”) provides independent advertising-supported platforms for consumers to search compare and apply for private student loans. Loan offers from participating lenders that appear on our websites are not affiliated with any college and/or universities, and there are no colleges and/or universities which endorse Edvisors’ products or services. Lender search results do not constitute an official college preferred lender list. Edvisors receives compensation from lenders that appear on this site. This compensation may impact the placement of where lenders appear on this site, for example, the order in which the lenders appear when included in a list. Not all lenders participate in our sites and lenders that do participate may not offer loans to every school.

Edvisors is not a lender and makes no representations or warranties about your eligibility for a particular loan or financial aid. Lenders are solely responsible for any and all credit decisions, loan approval and rates, terms and other costs of the loan offered and may vary based upon the lender you select. Please check with your school or lender directly for information related to your personal eligibility.

Edvisors has endeavored to provide accurate information. However, the results provided by lenders are for illustrative purposes only and accuracy is not guaranteed, as such, Edvisors assumes no responsibility for errors or omission in the information provided.

×
Get Your Free Guide to Filing the FAFSA Today!

Thank you for your interest in Edvisors' 2020-2021 Guide to Filing the FAFSA.

Please complete the form below to access your free copy.

Thank you! Click here to download your free FAFSA Guide.

I am a:

×
College knowledge starts here!

Enter your email below to receive your Student Loan Handbook from Edvisors.

Please check your email for the Student Loan Handbook.

After Navigation
Home » Blog » Our Love Hate Relationship with Higher Education
  • Contents
  • Our Road to a Love for Higher Education
  • The Perfect Storm
  • What Do We Do Now

Our Love-Hate Relationship with Higher Education

Penny Redlin
By Penny Redlin
September 26, 2023
Email This Article
Fill out the form below to send a copy of this article to your email.
By clicking "Submit" I have read and agree to the Edvisors' Terms of Use and Privacy Policy. We strongly encourage you to read our Privacy Policy to understand how we use and share your information.
A copy of this article has been sent to your email.
two girls back to back pointing in opposite directions

We love degrees and the doors they can open but we hate the price it costs to get one, both emotionally and financially. Higher education has brought both happiness and heartache for those who try to pursue it. With a highly competitive application process to get in and student loan debt when you leave, attending college takes a high level of resolve to obtain a coveted degree.

At one time it was more affordable and those who underwent the entire education process were rewarded for their tenacity, hard work and dedication with higher paying, higher level positions upon graduation. Today, many students are questioning their return on investment and whether or not it’s worth the time, as well as cost, to earn the degree that may be no longer a differentiator but a requirement of sorts to gain entry into the white-collar workforce.

Our Road to a Love for Higher Education

50 years ago, blue-collar jobs (jobs that required manual labor of some sort) accounted for over 30% of all non-farm jobs in America. By 2016 that number fell to a low of 13%. A mind-set took over the nation that success was defined by what your mind could produce not your hands (aka white-collar jobs). To some extent this is true, but it doesn’t negate the need for construction workers, plumbers, electricians, and the like. Even so, more and more students began looking to higher education to develop their minds.

The timing of this shift was serendipitous with an overall improvement in graduation rates from high schools across the country. In 1970, on average 55% of high school students earned their diploma, compared to over 90% of students in recent years. When you also consider the general population of the United States grew by more than a third during that same period, it’s easy to see how the pool of prospective college students has grown exponentially over the years, both in percent of students eligible to attend and the increase in the absolute number of that group due to overall population growth.

Over time, while our interest in higher education increased as well as the number of prospective students; the only barrier to attending college that might have tempered the number of college applications, would have been cost (i.e., tuition etc.) but that was addressed by the Department of Education with the institution of federal student aid.

In 1965 the federal government passed the Higher Education Act. This Act offered federal grants and made low interest loans available to students who demonstrated financial need. Before then, those who could afford to go to college, simply paid and those who could not most likely pursued work. Once cost was no longer prohibitive, helped by student loans, college attendance began to skyrocket, growing from 7.5M students in in 1970 to a nearly 20M in 2020 between undergraduate and graduate students.

The Perfect Storm

According to the U.S. Bureau of Labor Statistics, you can expect to earn two-thirds more with a college degree than a high school diploma alone. This statistic alone is enough to convince most everyone they should consider a college degree. Add to this that there are many employers who require a college degree from applicants for consideration of employment and the decision to get a degree is all but made. I degree not only leads to more money, but it also helps open doors to employment opportunities.

As more students made their way to institutes of higher learning and demand increased, so did tuition and other educational costs. As these prices increased, no one seemed to notice or mind, assuming salaries on the other side of the degree would more than compensate for the added costs. Students simply borrowed more money and did whatever it took to get to their goal – a college degree with the hope of career and financial stability.

However, a storm started to brew when rising college tuition costs outpaced inflation by 171.5% over the past several decades. To understand this point better, consider that the annual average cost of a state college in 1970 was about $400/year with a median income around $9,800. Annual income at that time was about 20x that of annual tuition.  Compare that with today, with state tuition running about $9,700/year and the average median income of about $57,000, annual income is only about 6x that of the tuition.  The ability to cover the costs of college after graduation has diminished over time and we are seeing that with the current student loan debt crisis.

This has left us with a system that offers few alternatives and/or desirable options to achieve the same results. To get a degree, you must go to college. Colleges have become extremely competitive to get and the cost to attend has grown exponentially. Today we find ourselves at an impasse. Go to college to have a chance to earn more, but how much more, and will the degree still be able to pay for itself.

What Do We Do Now

To begin, we need to change our mindset that a college degree is a silver bullet to a success. We need to get smart about the return on investment for specific degrees and colleges and be realistic with our expectations. Think about the job you hope to get afterwards and research the annual salary. Compare that with the cost to get the degree for that career and determine if you think it’s worth the investment.

Consider taking advantage of lower cost options that will yield the same or similar results, such as community college, attending university part-time, certificate programs that may also open doors to employment or even delaying the degree while you work to save money to apply towards college.  There are options out there so that you don’t have be saddled with debt upon graduation.

Finally, when selecting a college, be conscious of cost for sure, but also think about on-campus recruiting for your major, cost of living around campus and local employers that might want to hire in your chosen field. These things can help you get an internship that can help cover costs, manage your budget, and potentially have a job lined up well before you walk across the stage to accept your degree.

 

Share

Penny Redlin

Penny is the Content Marketing Manager for Edvisors.  She is tasked with optimizing website content and managing SEO performance.  A seasoned marketer with a diverse background in brand management, e-commerce and digital marketing, Penny brings an array of experience with her. An MBA from the University of Chicago, entrepreneur and author, Penny's experience offers a unique view to content creation and curating.

Find Penny Redlin on LinkedIn.

If you would like to schedule an interview with Penny, please reach out to us at [email protected]

About Edvisors

For 20 years we have been known as one of the largest and most trusted resources to help you find your path to success. Everyone needs to find their own path, and we know that first-hand. Helping you reach your educational and financial goals without stress, is our mission. Let's face it, it may be unavoidable to borrow money, but there are ways to do it wisely, including making the right choices up front, as well as during repayment. If we can help you make an informed and careful decision, we consider that a good day in the office.

Find information on this site to help you plan and pay for college as well as manage your money with confidence.

Related Content

Is a College Education Worth the Cost?
Edvisors Network
May 08, 2025
On average, the wage premium for college graduates exceeds the direct and indirect costs of a college education. Average income increases and unemployment rates decrease with higher educational attainment. So long as debt is kept in sync with annual income after graduation, the college graduate should be able to repay his or her student loans in a reasonable period of time.
Read Article
Private vs. Public College
Elaine Rubin
May 13, 2025
Deciding to go to public vs private college might not seem important but there are some financial considerations you should think about before making a decision.
Read Article
Free Money for College
Penny Redlin
May 13, 2025
Paying for college can be challenging. There are a number of resources to help by providing free money in the form of scholarships, grants or reimbursement.
Read Article
Freshman Finances 201: Building Essential Money Management Skills Previous Article Blog Home Freshman Finances 101: Campus Basics Next Article
Could You Be Saving More?
Subscribe to Edvisors' Student LIFE Newsletter to receive up-to-date financial aid information and advice, explore scholarship opportunities, loan repayment options, and learn expert strategies on how to plan and pay for college.
Newsletter Form
By clicking "Subscribe" I have read and agree to the Edvisors' Terms of Use and Privacy Policy. We strongly encourage you to read our Privacy Policy to understand how we use and share your information.
Thank you for subscribing to our newsletter.
We care about your privacy

This website uses cookies to offer you the most relevant marketing and targeted advertisements which in some states may be considered a sale of your personal information. You may exercise your right to opt out by clicking on deny cookies. Please accept cookies for the optimal experience. You can withdraw or modify your consent for non-essential cookies at any time by visiting Cookie Settings page

This website uses cookies for targeted advertising which in some states may be considered a sale of your personal information. You may opt out by clicking on deny cookies. Please accept cookies for the optimal experience. You can change your consent for such cookies via the Cookie Settings page

Edvisors
  • About Us
  • Official Rules
  • Careers
  • Team
  • Testimonials
Resources
  • Blog
  • Newsletter
  • Tools and Calculators
  • Video Resources
  • Financial Terms Glossary
  • Site Map
Media
  • Edvisors In the News
  • Press
Contact Us
  • Help
  • Ask the Edvisor
  • Student Aid FAQ
  • Directions
Partners
  • Advertise
  • Become an Affiliate
  • Link to Us
Legal
  • Terms of Use
  • Privacy
  • Consumer Health Privacy Notice
  • General Website Disclaimer
  • Accessibility Statement
  • Interest-Based Ads
  • Notice at Collection
  • Cookie Settings
  • Your Privacy Choices Your Privacy Choices Icon

Better Business Bureau logo

Edvisors provides expert advice on planning and paying for college. On Edvisors.com easily compare student loan lenders, learn how to apply for financial aid, and discover scholarships. Learn about federal and private student loans for students and parents, how and when to apply to college, and more!

Edvisors (“Edvisors Network, Inc.”) provides independent advertising-supported platforms for consumers to search compare and apply for private student loans. Loan offers from participating lenders that appear on our websites are not affiliated with any college and/or universities, and there are no colleges and/or universities which endorse Edvisors’ products or services. Lender search results do not constitute an official college preferred lender list. Edvisors receives compensation from lenders that appear on this site. This compensation may impact the placement of where lenders appear on this site, for example, the order in which the lenders appear when included in a list. Not all lenders participate in our sites and lenders that do participate may not offer loans to every school.

Edvisors is not a lender and makes no representations or warranties about your eligibility for a particular loan or financial aid. Lenders are solely responsible for any and all credit decisions, loan approval and rates, terms and other costs of the loan offered and may vary based upon the lender you select. Please check with your school or lender directly for information related to your personal eligibility.

Edvisors has endeavored to provide accurate information. However, the results provided by lenders are for illustrative purposes only and accuracy is not guaranteed, as such, Edvisors assumes no responsibility for errors or omission in the information provided.

Copyright © 1998-2025 by Edvisors Network, Inc. All rights reserved.

All other trademarks and service marks displayed on Edvisors Network, Inc. websites are the property of their respective owners.

Edvisors Network, Inc. 350 S. Rampart Blvd, Suite 200, Las Vegas, NV 89145

Copyright © 2025 by Edvisors.com. All rights reserved.