Going to full-time college is expensive. Considering the financial costs of room, books, and tuitions, the biggest opportunity cost is the money that could have been accrued by entering the job market. The college going youths also bear the financial burden even before the start of their career. Assuming a student who will pay 1500 dollar annually to the college plus 5000 dollars he could have made by annually by doing some job, the college came at 26000 dollars opportunity cost for the student. These bucks could also have fetched a chic bike or any other thing of choice. Additionally, four years with full-time college schedule is an extended period to burnout students. Joining online courses seems a comparative advantage as it allows the one to get an education while pursuing a part-time job at the same time.
However, these opportunity costs must not discourage full-time students. The primary reason people join college is to get a professional degree that makes them more money after they finish the college. The degree 'badge' on them enhances their importance in the job market and imparts more security in job roles. The unemployment rate is lower for full-time graduates. It not only imparts flexibility but also hones students with teamwork and decision-making skills that are the lifelines of present day business contour.
Online courses do seem rewarding, but I face some trade-offs worth mentioning. For instance, these courses do not sufficiently provide the 'right' ambiance. Going to college and being with like-minded people is an experience that online courses cannot proffer. Traditional face-to-face classes pave the way for multiple career options and impart better flexibility than online counterparts.
Reference
Hubbard, G., Garnett, A. M., Philip, L., & Anthony Patrick, O. (2014). Microeconomics. Pearson Australia.
