HOUSTON — Recent research suggests a lot of Americans are now questioning what was once an accepted fact -- that college is worth it.
According to the New York Times, about a decade ago, close to 98% of parents expected their children to go to college. Now, close to half don't want their kids to go to four-year college and that could be thanks to the cost. According to the Education Data Initiative, the average cost of one year of college in the U.S. is over $38,000 a year. That cost has more than doubled in the past two decades.
That's pretty pricey for most families and many parents and students take on debt to make it happen. And if you are just looking at the raw numbers, it can be worth it. According to the Social Security Administration, men with a bachelor's degree earn around $900,000 more in median lifetime earnings than a high school graduate.
For women, that number is around $630,000.
But the reason this question is so complicated is because the answer is different depending on the student. Some of the most successful businesspeople in the U.S., like Mark Zuckerberg and Bill Gates, never finished college.
Trade schools and apprenticeships can lead to lucrative careers for students less inclined to sit behind a desk. Meanwhile some kids flourish and mature in a traditional college environment.
According to the experts, your best bet when deciding what to do after high school is to have honest conversations with your child about their goals and what they would really get from a four-year degree.