Final answer:
The value of attending community college for Paula is subjective and depends on her financial circumstances and career goals. College can be a valuable investment with the potential to increase income, but it is important to consider the increasing costs of education and the potential for accruing student loan debt.
Step-by-step explanation:
The question of whether community college is a good investment, a waste of time, necessary for career advancement, or expensive cannot be answered definitively for every individual since it varies based on personal circumstances, career goals, and financial status.
Studies have shown that there is a widening gap in personal incomes between those with a college degree and those with only a high school diploma, indicating that, in general, a college education can be a valuable investment.
However, during times of recession, when the opportunity cost of time is low for someone who is unemployed or underemployed, going to college can be a strategic move to improve future income potential without losing current income.
On the other hand, the cost of college has significantly increased over the years, and sometimes even full-time employment is not sufficient to cover all expenses, leading to high levels of student loan debt. This reality makes the decision to pursue higher education more complex and riskier in terms of financial stability.
Therefore, the value of college depends on many factors, including the individual's financial situation, chosen field of study, and career aspirations.