Is a paycheck more important?
Or a few hours in your schedule where you can contemplate studying for your next exam?
In a time of rising tuition costs, the dilemma many college students face is how to allocate their time towards working and the rest towards their college career.
Working throughout college provides many benefits for the average 18-year-old incoming freshman.
The inflow of cash gives students the opportunity to take financial responsibility of their expenses and even realize the extent of their student loans, one that may make them appreciate their four years spent here a little more.
Putting these benefits aside, working part time can also deprive a college student from many more notable gains throughout his/her college career.
The first and most worthy to mention is the lost time spent studying for classes.
After all, you’re ultimately here to obtain a degree. Working part time will only take away time you could spend studying or pursuing other opportunities within your degree [e.g.,internships and co-ops].
The second worth noting is the lost opportunity to experience college.
While college is expensive and difficult to pay off, getting a loan for it isn’t.
Rates on student loans shouldn’t go undermined as you’re unlikely to find a better rate on such a large loan unless you purchase a home.
To simply take out more on your student loans shouldn’t be deemed as an unattractive option. In fact, it should be viewed as an investment.
The pursuit of a college education is a big endeavor.
It makes more sense to concentrate your energy and focus on one big endeavor than several small ones.
Working part time at McDonalds may pay the bills on your apartment, but it’s not going to provide any real earning potential 10 years down the road.
A bachelor’s degree has a significantly higher probability to return over $1 million throughout your career in earnings than work experience at minimum wage.
Students need to take initiative within themselves and identify what they want to achieve after college.
It’s worth noting that the best investment you can make is in yourself.
Money doesn’t have the capability to create value or qualitative characteristics within someone’s identity.
Deeming yourself a slave to the pursuit of it will only lead you to chase more money at unattractive opportunity costs.
So rethink your financial choices big or small, because after all you’re only here for four years.
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