Lately, there has been a question circulating, “Is a college degree worth it?” If you’re considering skipping college, here are some facts to make an informed decision. Statistics don’t lie and they show that degree earners—on average—earn more than those with only a high school diploma.
Fact #1: Over Your Lifetime, an Advanced Degree Can Double Your Income
A Georgetown University Center on Education and the Workforce study outlines that over a lifetime, a high school diploma owner will, on average, earn $1,304,000. Those with bachelors degrees earn, on average, $2,268,000. Those with a master’s degree can expect $2,671,000, double that of a high school education. Skipping college may reduce your standard of living.
Fact #2: Employers Have Educational Requirements in New Hires
According to the Office of Occupational Statistics and Employment Projections, “About half of the occupations analyzed by BLS typically require some type of college degree: associate’s, bachelor’s, master’s, or doctoral or professional.” One startling indicator reports, “A majority of employers surveyed from various industries acknowledge that they ignore applications from people without college degrees even if they have the skills and work experience to perform well in the job.”
Stat #3: Skipping College Can Make the Difference Between Being Employed or Unemployed
According to the U.S. Bureau of Labor Statistics, the unemployment rate for high school graduate was 6.7%. With a college degree, that number drops by almost half, to 3.7%. When economic stress hits a company or country, a college degree offers some measure of employability. Skipping college doesn’t.
Stat #4: People With Just a High School Diploma Are Three Times More Likely to Live Below The Poverty Line
Poverty is an unfortunate part of our society. Due to a variety of contributing factors and influences out of their control, many people find themselves unable to fully support themselves and their families, living below the poverty line.
Yet as it turns out, the poverty rate is three times higher for those with just a high school diploma compared to a college degree. For those without a degree, the poverty rate is at 13.2%. For those who have earned a bachelor’s degree, the poverty rate drops significantly to just 4%. Remember that there are certainly many other factors to evaluate when considering the poverty rate. However, as we’ve seen, a college degree increases your earning potential and may provide financial stability.
Stat #5: A College Degree Is Still Worth It
According to the Monthly Labor Review, the financial benefits of a higher education still outweigh the expense and determined that college remains a good investment. Maybe your real question isn’t, is college worth it but, is skipping college worth the risk?
Education is Valuable
It turns out that college is valuable. Whether on campus or online, when you enter into an experience of relational learning at Cornerstone University, you can discover what Christ has for you and your life, spiritually and vocationally. You’ll thrive in an atmosphere that inspires your intellect, strives to ensure your success, and opens your biblical vision to become a leader and influencer for Christ.
Discover the value of education for yourself by requesting more information today.