In many discussions about whether to go to college, such as this one in Forbes, the arguments focus almost exclusively on financial calculations like cost. Now, I appreciate how this article in particular calls out exceptions, but nowhere in this is there a discussion on the benefits or value of college that go beyond the financials.

As a higher education administrator, I am most certainly biased by my positionality, but let’s explore some of the non-financial benefits of attending college. Disclaimer: I am not saying that the financials are unimportant and understand that it is the financials that can be a barrier to achieving the dream of a higher education degree. I’m simply suggesting that there are other benefits that should not be ignored.

What are other aspects of higher education that contribute to the value of a degree?

Gaining Maturity: I’ve previously mentioned that as a young person, I was rather shy. College was a time of huge growth for me where I didn’t have the option to fall back on my family. I bravely struck out and chose not to live with any of the many high school friends that went to the same institution. I spoke to the girl next door to me in the dorms, even though she was from the fancy Chicago suburbs, and I was from Central Illinois (incidentally, we became the best of friends and were in each others’ weddings). I also learned how to rent an apartment, do laundry, dress appropriately and interview for a job, and to manage my own time. I could go on and on. For me, this time of growth was transformative.
Expanding Horizons: Similar to the above, college is often a place where students are exposed to people, situations, and ideas that they have never before encountered. This happens inside the classroom, as new theories are shared and debates are encouraged among a group of people from all over the country — and often the world — who are coming with their own unique experiences, values, cultures, and perspectives. It also happens outside the classroom as student organizations, living situations, and social interactions bring about new and sometimes difficult topics like drugs and alcohol, intimacy, mental health, or religion.
Building a Network: I’ve shared the value of networking, and one of the best places I’ve found for genuinely building that network quickly and with impact is via education. When students are in school together, there is a beautiful openness to new ideas and information that leads to creating new connections and relationships. Being at the same institution or in the same major, students have already created a shared purpose and set of shared activities, which makes it even easier to relate. And, as students are often spending intensive periods of time together, these connections are strong, lasting for years to come. There is often loyalty around one’s alma mater, and companies like LinkedIn have made it even easier to stay in touch with fellow students from across the globe.

These three non-financial benefits of college can also support the financial success of students in terms of obtaining a high-paying job. But, if one only looks at dollar signs, then we aren’t attributing value to these benefits that go beyond that of a salary. Isn’t expanding a person’s horizons valuable for life outside of work? When making a decision about whether college is “worth it,” these factors should not be ignored.