College is an investment worth making. Studies show those who have a college degree tend to earn more money, are more satisfied at their jobs and enjoy overall healthier lifestyles.
The financial outcomes of college are tracked regularly by the U.S. Bureau of Labor Statistics. This data consistently shows that the higher the level of educational attainment, the more you’ll earn. The most recent report shows that workers with at least a bachelor’s degree see median earnings of about $400 more every week than those with some or no college. And the unemployment rate for those with bachelor’s degrees is nearly half the unemployment rate for those who only have a high school diploma.
Another study from Georgetown University found that college graduates earn, on average, $1 million more over the course of their lifetimes than those without a college degree.
Paying for college is also more manageable than one might expect. Financial aid packages can include scholarships and grants that do not have to be repaid, as well as low-interest loans. Additionally, employer partnerships and tuition discounts can lower out-of-pocket expenses.
When comparing colleges, be sure to consider all costs and financial aid to get a better idea of how much you would actually spend.