With the high cost of a college education these days, many wonder if it’s really worth it to put in the time to earn a college degree. Several recent studies, including one from the Pew Research Center, have helped provide an answer to this question, and typically how much you pay for college and the type of degree you receive impact the outcome.
Here are four reasons why earning your college degree today will likely be worth your time and effort.
Reason 1: College graduates earn more money.
A bachelor’s degree graduate earns $17,500 more per year than a high school graduate and $15,500 more than a student with some college or a two-year degree, according to a recent Pew Research Center study, titled “The Rising Cost of Not Going to College.”
Reason 2: College graduates are more likely to be employed than their less educated peers.
Only 3.8 percent of bachelor’s degree graduates are unemployed, compared with 12.2 percent of high school graduates and 8.1 percent of students with some college or a two-year degree, according to the Pew Research Center.
Reason 3: College graduates are more likely to work for an employer who offers a retirement plan.
According to the Pew Research Center, 61 percent of college-educated Millennials worked for an employer with a retirement plan, while only 36 percent of high school-educated Millennials worked for an employer offering a pension plan.
Reason 4: College graduates are more satisfied with their work.
Again, according to the Pew Research Center, college-educated young adults were more likely to view their current job as part of a career track (86 percent) compared to high school-educated young adults (57 percent). In addition, 53 percent of college graduates in their 20s and 30s said they were very satisfied with their work, compared to 37 percent of high school graduates.
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