In general, more education means more money, greater employment options and better job security according to the latest data available by the United States Census Bureau.
The data supports a high rate of return for students from all ethnic & gender groups, and those from all family backgrounds. Further, every study done in this field has reinforced the same high rate of return for those that invest in their education. In other words, your degree will pay for itself. It is even more significant when you consider these earnings over a life time.
Consider the following statistics from the U. S. Department of Labor and Census Bureau:
There are already many good reasons for students to attend college and earn a Bachelor's degree, but the data above shows more than a million more reasons! In other words, the average college graduate will make more than twice the average high school grad over the same lifetime which equates to more than $1 million. This is a result of not only higher starting salaries for college graduates, but more significantly a higher rate of growth. Those with higher levels of education advance more quickly through their fields, are more upwardly mobile, and have more options available to them. Inflation-adjusted earnings for individuals with postsecondary degrees have increased over the past decade, while earnings for individuals with High School level education or lower have decreased. And this gap is growing even larger as fewer and fewer jobs are available to those without a college degree. More education and training means higher earnings. It's really that simple.
Source: U.S. Bureau of Labor Statistics
| Level of education | Median weekly earnings in 2008 | Unemployment rate in 2008 |
|---|---|---|
| Some High School, No Diploma | $426 | 9.0% |
| High School Graduate | $591 | 5.7% |
| Some College, No Degree | $645 | 5.1% |
| Associate Degree | $736 | 3.7% |
| Bachelor's Degree | $978 | 2.8% |
| Master's Degree | $1,228 | 2.4% |
| Professional Degree | $1,522 | 1.7% |
| Doctoral Degree | $1,555 | 2.0% |
Surprisingly, only 28% of Americans over the age of 25 have a Bachelor's degree or higher. This is a shockingly low number considering the availability of higher education in our society and the access we have to government-supported financial aid programs. Further, while the percentage of U.S. adults with a postsecondary degree has increased in recent decades, the demand for jobs demanding postsecondary degrees has outpaced this growth. Who Are the Future Students? Whether you are a working adult or a stay-at-home parent, there are many more compelling reasons to go back to school and earn a degree than the obvious one of increasing your earning power.
At the very least, it can't hurt to learn more about your options in furthering your education. Search our site based on your interests and request free, no-obligation information.
College graduates earn an average of $1 million more during their careers than high school graduates!
Source: U.S. Census Bureau