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Does Earning a College Degree Pay Off?

The recession is officially over, according to economists. Except for the seven million or so people who lost their job – the job market isn’t likely to grow significantly over the next several months. So, before you decide that you’ll be able to start looking for work again without that college degree, think again. It probably doesn’t surprise you to learn that recent data from the College Board shows that college still pays.

Today’s college graduates, according to the Board’s projected figures, will make 66 percent more than high school graduates. This figure goes up even more if you include graduate degree program figures, and the comparative wage earnings of GED holders are even less than that of college graduates.

While some argued that the longer a student is enrolled in a university degree program, the more money he or she is likely to make, the example of people like Bill Gates (think Microsoft) makes this comparison a little less believable. And the continuously rising cost of tuition increases the likelihood that college graduates will be facing higher loan repayments and other education expenses after graduation.

Despite this drawback, though, one trend can be easily established. Statistically, people with college educations are more likely to have jobs than people who don’t have college educations. People who complete graduate degree programs are the least likely to be unemployed, while people who don’t earn a college degree or complete high school are most likely to be unemployed.

Interestingly, some figures also indicate that people with college degrees are more likely to enjoy better health than those who do not get a college degree. While a college degree may not guarantee a job or good health, there does seem to be some correlation. So if you’ve been thinking about enrolling in a college degree program but haven’t done it yet, there’s no time like the present!

For more information about the statistics in this article, visit http://chronicle.com/article/Education-Pays-but-How-Much-/124552/?sid=at&utm_source=at&utm_medium=en

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