There was a time when people rarely questioned the value of a college degree because college graduates got good jobs and were placed in organizations simply because they had degrees.
It wasn’t long ago that government banks hired people in the banks who had their college degrees.
So after school, it was an obvious choice to move to college for a degree so that one could, in no time, get a stable job and hence a secure future.
In contrast to the previous notion of associating the college degree with a license to secure jobs, the generation today no longer believes the same, especially when it counts on names such as Dhirubhai Ambani, Steve Jobs, Mark Zuckerberg, or Brad Pitt.
But it is wrong to believe that a college degree is losing its importance, because a degree is not just a document but a supporting parameter to our knowledge, skills, and abilities.
It is not only an extension of the process of learning in an individual, but also a critical component in the development of an individual.
Thus, higher education helps to create awareness and impacts the growth, information, and communication revolution.
Accumulation, together with the application of this achieved knowledge through the college degree, contributes to the economic development of the developing country.
Most of the universities today are trying to bring in the concept of interdisciplinary learning in order to provide students with a more comprehensive understanding of the world.
The best of the colleges in NCR are trying to customize their course curriculum to impart to students an in-depth knowledge of the main domain and distribute the allied subjects in such a way that it contributes to broadening their understanding of the current market dynamics for the overall development of the individuals.
The growth in knowledge, along with the handy tools of information and communication, coupled with the increase in the population, has led to competition becoming the hallmark of growth in the developing world.
It would be possible to attain a competitive advantage only with the help of appropriate knowledge, skills, and abilities, which in turn can be nurtured at college, and hence lies the value and importance of a college degree.
A college degree acts as a tool to access higher education and reorient the education system in a more meaningful way, and bring a purpose to individuals so that they can positively contribute to society for a better quality of life and living conditions.
Even for those who believe that a college degree is soon losing its sheen, there could be two ways to judge its importance:-
- First, the individual who acquires a college degree may simply differ in their innate skills and abilities from those who don’t obtain a degree
- Second, how long does it take for an individual with a college degree to break even on the upfront investment?
The shift in the mindset that a college degree is no longer as important as it was before can be credited to high tuition costs, struggling college graduates to get a good job, and falling wages.
Although these reasons might lessen the value of higher education, the fact is that the money put into education should not be considered an expense; rather, it should be seen as an investment.
College education not only helps to drive the economy of the developing nation but also contributes to better living conditions in all strata of society.
Not only is this true when one digs deeper to understand its importance, but it also won’t be surprising to find out that individuals with a college degree are better paid than those who do not have a college degree.
Also, the reward of a college degree should not be viewed from a short-term monetary gain perspective only, as the career benefits college education brings are spread across a much longer horizon.
This vindicates our belief that a college degree is still valuable and contributes significantly to individual prosperity.
