Name : LUMAS, LOVELYBETH P.

Date : June 01, 2024

Professor : Dr. Evangeline Geraldez Editorial Type : Interpretive
Agency : TESDA

Rising Cost of College Education: Is it worth the Investment?

The escalating price of a college education is today being considered as a

major problem globally, causing many potential students and their families to doubt
the value of any possible returns. One such alternative that merits serious
consideration is provided by the Technical Education and Skills Development
Authority (TESDA) in the Philippines. TESDA provides vocational and technical
training programs that are designed to make individuals competent with practical
skills needed in the job market. This editorial examines whether rising traditional
collegian costs can really be defended as having enough value compared with
TESDA’s low cost and job-oriented learning alternatives.

Those who support traditional higher education systems believe that the main
reason for their existence is to guarantee future income and ensure wider job
prospects. The supporters of college education have suggested that having a degree
is essential for professional achievement and social promotion. Nevertheless, this
common sense has been questioned by soaring higher education costs resulting in
student loan debts. Conversely, TESDA’s technical-vocational programs provide an
economical and more practical avenue in that they are market-driven instruction
where the students can easily find takers after completion.

According to an assessment by the Philippine Institute for Development

Studies (PIDS), depending on the program and organization, the typical annual cost
of attending a private college in the Philippines might range from PHP 100,000 to
PHP 150,000. Interestingly, TESDA courses regularly cost fundamentally less. For
instance, a TESDA program in automotive servicing could cost around PHP 20,000
to PHP 30,000 for the whole course. Also, TESDA graduates have been displayed to
enter the labor force rapidly and at serious pay rates. As indicated by a TESDA
influence assessment report, around 60% of TESDA graduates track down work in
the span of a half year of finishing their preparation. The report additionally featured
that alumnus from explicit projects, for example, those in information technology and
healthcare, frequently secure positions with beginning compensations comparable to
those of entry-level positions for school graduates.

Vocational education is often criticized for its limiting effect on professional

advancement over the long term, as well as its limiting effect on employability in
general. It is argued that general college education provides broad-based education,
fosters critical thinking, and creates entry points into many professional fields. Also, a
general college degree and subsequent professional education remain indispensable
for various fields, especially academia, law, and medicine.

While some careers really do require a degree from college, this inference
has been somewhat outdated by the fact that vocational training really does not
totally hinder one's prospects for advancement. Times and the job market are
changing, and increasingly, employers place so much emphasis on practical skills
and hands-on experience rather than theoretical knowledge. TESDA programs are
designed to be flexible, and the graduates can pursue further education and
certifications as they further their careers. Moreover, with the onset of such industries
as technology and skilled trades, this shows that even without a traditional college
degree, one can still find a very decently paying job. Besides, college debt can be
financially crippling and filled with uncertainty in terms of long-term career growth
and personal development. A study by the Bangko Sentral ng Pilipinas said the
average debt burden that Filipino college graduates have hinders their capacity to
save, invest, and purchase homes. On the contrary, TESDA graduates go into the
workforce without much debt, hence giving them greater financial freedom and
stability.

The cost of college education is soaring, calling for a reassessment of its

value, particularly when good alternatives like TESDA exist. No doubt traditional
degrees offer some advantages in the form of broad academic knowledge and a
well-rounded educational experience. Yet perhaps one persuasive reason to
reexamine is the cost-effective and market-aligned training offered by TESDA. The
TESDA course focuses on practical skills that are directly applicable to the
workforce, making the graduates ready for jobs from day one. Two most important
principles in the fast-changing employment market will be practical skills and
minimizing financial burden. Vocational training offered by TESDA addresses these
principles by making sure that students get relevant skill sets without owing much
debt. After all, it must be an individual choice based on career goals, financial
position, and fast-changing economic conditions. Many would find that the TESDA
model was not only viable but even better, offering a pathway straight to the job
market and financial stability. Also, the flexibility in TESDA's programs lets one
continue learning and get attuned to the new trends in the industry.