Do You Need To Go To College?
College graduates on average make significantly more than high school graduates, and the disparity is increasing.
Statistics Show Higher Earning Power for College Grads
College is definitely a significant investment of time and money. However, more and more people are recognizing they need to go to college as a path to a better financial outlook.
College Grads Outpace High School Grads in Earnings
The reason for this increase is obvious. There can be a significant increase in earning potential for college graduates. According to the National Center for Education Statistics, the median annual earnings by gender for full-time workers between the age of 25 and 34 was the following:
This difference in earning potential has also increased throughout the years. In 1980, the median difference in earnings for a male with a high school diploma and a bachelor's in this same age group was $6,500. It increased to a $20,000 difference in 2006. For females, it was a $9,400 difference in 1980, and increased to a $17,000 difference in 2006.
- Males with a high school diploma or GED: $30,000
- Males with a bachelor's degree or higher: $50,000
- Females with a high school diploma or GED: $24,000
- Females with a bachelor's degree or higher: $41,000
This difference in earnings can add up significantly throughout your career and is a compelling reason to consider college.
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