Deciding on a career is a big step in anyone’s life and can be intimidating. For most young people one of the biggest decisions is whether to go to university or not. Universities would have everyone believe that attending a university will give everyone a higher chance of success, more income and generally a better life overall. The reality is much different.
Only 33.3% of students enrolling in university come out in four years with a degree and 57.6% after six years. Since student loans are unforgivable 43.4% of students will have to pay back their student loans without the benefit of a higher income due to obtaining a degree.
This is lost in the data which indicates the benefit of a university degree which shows how a graduate on average will be able to easily pay their loans. This data excludes those who have not completed their degrees, lumps all degrees together and the interest accrued by those who take longer to pay their loans back.
When deciding on why you want to go to university you need to take into account the chances of success, the financial benefit of the degree you are interested in and how long it will take you to finish the degree. All of these will provide you with a better understanding of the risk you are taking when enrolling in a university. Unlike the propaganda, a university degree is not a ticket to financial freedom. For some it will give them, on average, a higher income but true financial success is dependent on many other factors outside of someone’s level of education.
Before committing to a university program consider the risks
There are many factors which affect the chances of success in a university program. There is your grade-point average at highschool graduation, family and community support and ability to learn the way university courses are taught.
Each of these can have a positive or negative effect on the chances of graduating in a reasonable period of time, with valuable skills and being able to leverage your education to your benefit.
Effect of highschool grades on university graduation rates
Studies have shown that the academic performance of a student has a great effect on the chances of success. Academia has a specific method of teaching, evaluation and skill learning which is aligned with certain traits a student has. This means that a student who learns best by reading and memorization and performs well in the current testing environment will naturally do better in academia then those who learn differently.
A level students have a much better success rate than B or C (and lower) students.
| Grade upon leaving highschool | Percentage of students graduating |
| A | 63.9 |
| B | 37.1 |
| C | 13.9 |
This data should cause you to have some second thoughts regarding your educational path. As the data suggests even if you graduated with an A average in your courses you still have a 36.1% chance of failure to earn a degree. As a B student your chances of failure rise to 63.9% and a C student 86.1% on average do not complete their degrees. Although these numbers are not the only considerations when making the decision to attend university, they are an important factor to consider.
Effect of family support on university graduation rates
Family support is a big factor in a student’s chances of success in university. Having the support of people you love and believe in your success can help you get through the times when stress is high and your morale is low. Every new student will experience emotional difficulties when placed in a new environment with new responsibilities so having people which they can talk to and be encouraged by has a big effect.
Family support helps students to be more consistent in grades throughout the year with those having less support reporting lower grades during high stress times of the year such as midterms and finals.
The absence of financial concerns is more beneficial to females than males, possibly because they feel more secure without financial concerns and men may consider it a challenge to overcome.
Another consideration is the educational level of the parents. When the parent(s) hold a degree they chances of graduation are higher than if neither do. This could be due to expectations, higher on average income or better understanding of the pressures and stresses of a university education.
Before making the decision to enter a university program consider the support you have and need from your parents. Make sure you have a clear picture of the support they are willing to give you throughout your university education including emotional, physical and financial support.
Determine if you need regular contact with them as this will affect where you will attend, know what type of financial support they are willing to provide and consider how you are going to communicate.
Effect of peer support on university graduation rates
Peer pressure is sometimes considered a negative factor in the development of children. It can lead to habits like smoking, drinking and poor relationship choices but it also can have a beneficial effect. A peer group which expects to obtain a university education will improve graduation rates within the group. Such peer groups instill good habits on students, influence their daily activities and can assist when a student hits a rough patch.
One factor which has a great effect on dropout rates is the feeling of connectedness within a peer group. Some studies indicate that 40% of students dropping out of school listed loneliness as a factor in their decision to quit.
Another consideration is how the peer group influences its members which can be beneficial or detrimental depending on the group and the regular activities the group engages in.
Effect of learning style on university graduation rates
There is still much debate about the value of learning style in education but it is clear that not all individuals have the same style or learning. There are four proposed learning styles:
The Four Learning Styles
- Visual Learning
- Auditory Learning
- Reading/Writing Learning
- Kinesthetic Learning
Everyone learns through all these methods but each student puts more or less weight on each with one or two being predominant. Universities cater to students who learn through visual and auditory learning (lectures). Higher level courses require students to be able to assimilate information through reading and writing.
This leaves those who learn best by doing (Kinesthetic learning). University labs are meant to improve a students understanding of a topic but if the student predominately learns kinaesthetically they will find university difficult.
4 other options to university
There are several other options for those who do not go to university to build a career and achieve a high income. Although university graduates on average develop a higher income this is not an indicator that it is advisable for everyone to attend university. Many successful people did not attend a university, several quit before earning a degree while many graduates from university programs do not achieve career success.
Career college
Career colleges are great options for those who do not want to take the risk of committing to a four year degree. There are many different career options available at a career college from bookkeeping courses, technology and many trades like carpentry, electrical and professional driving.
These courses are great for kinesthetic learners as they are more hands on, providing a contact point with the learning and the doing of the work. While giving the student valuable knowledge which can be practically used in the field.
The courses are shorter from a semester to two to three years. The student is usually required to gain some professional experience throughout the learning process through apprenticeships which are sometimes organized by the college. This gives the student the ability to develop contacts within the industry during the learning process.
Self-directed learning
This can come in a variety of forms from registering for courses at universities without the intention of completing a degree, taking certificate courses or learning as the knowledge is needed. Many careers require this type of learning such as information technology, computer programming, carpentry, accounting and business management.
A student can become an expert in a field which has high commercial value using this method of learning and therefore can become highly valued (and therefore highly paid) once they have developed a good reputation in the industry.
Entrepreneurship
Business ownership is a career path which is difficult to teach. There are some formal schools which have entrepreneurship courses but many are not taught by entrepreneurs but rather by business managers, teachers and government employees. Without the hands-on experience of being an entrepreneur it is difficult to teach.
To be a successful entrepreneur you need to be highly creative and be willing to take risks but this is the most predictable method of becoming financially independent. Although entrepreneurship does not exclude formal education, education is not a prerequisite to become a successful business owner.
Apprenticeships
Apprenticeships were a common method of learning a career for several centuries. A student would work for a small wage while learning the skill. This is a section of becoming a construction tradesperson currently an apprenticeship is required to move from one level to another. Today it is measured in hours worked in the trade, in the past it was measured by the value the apprentice provided to the mentor.