Earning-power differences between college grads and others are easily available at the fingertips. Even by the most skeptical estimates, the lifetime difference in earning power equates to the cash equivalent of $250,000 to over $800,000 depending on how you count it.
online.wsj.com
Personally, I had to come up with the means and the money to get to the degree myself so I know its costs and benefits. Having a degree is a qualifier for interesting ways to make a living, even as a side gig. For example, you can augment a regular job by teaching part-time at a community college, if you have the qualifying degree. In bad times, those with the lower levels of education fare the worst in the unemployment statistics.
Those who pursue higher education tend to initially earn less than those who set to work full-time while young, but graduates usually catch up by age 30 and then reap most of the benefits. If you have higher education and are at least somewhat disciplined in your spending then you can put more of your money into a 401k or other long-term investments than can someone at lower earning levels. As a graduate you have the financial potential to put children through college, if you have children. College graduates also tend to make certain lifestyle decisions, such as eating wisely and not smoking, that increase the chance for a longer life. Therefore a graduate may build more wealth but also live longer to spend it down.
online.wsj.com
Personally, I had to come up with the means and the money to get to the degree myself so I know its costs and benefits. Having a degree is a qualifier for interesting ways to make a living, even as a side gig. For example, you can augment a regular job by teaching part-time at a community college, if you have the qualifying degree. In bad times, those with the lower levels of education fare the worst in the unemployment statistics.
Those who pursue higher education tend to initially earn less than those who set to work full-time while young, but graduates usually catch up by age 30 and then reap most of the benefits. If you have higher education and are at least somewhat disciplined in your spending then you can put more of your money into a 401k or other long-term investments than can someone at lower earning levels. As a graduate you have the financial potential to put children through college, if you have children. College graduates also tend to make certain lifestyle decisions, such as eating wisely and not smoking, that increase the chance for a longer life. Therefore a graduate may build more wealth but also live longer to spend it down.
