College pays off when it comes to earnings
Rising college costs have gotten much attention lately. And more than a few columnists have pondered the question of whether or not college is worth it. When it comes to earning power alone, however, the value of a college degree is undeniable.
With each level of degree — from associate to bachelor’s to graduate — wages typically start higher, increase faster and reach a higher maximum.
For example, average earnings for 25-34-year-old Minnesotans with a high school degree are $28,171 — compared to $44,000 if they have a bachelor’s degree. This average wage differential will continue leading to much higher cumulative earning for a bachelor’s degree-holder over a lifetime.
There are other benefits to college as well. See Education Pays for more information on this topic.