Is College Worth It? Yes!
Jim LiebeltJim is Senior Writer, Editor and Researcher for the HomeWord Center for Youth and Family at Azusa Pacific University. Jim has over 25 years of experience as a youth and family ministry specialist, and has been on the HomeWord staff since 1998. He has served over the years as a pastor, author, youth ministry trainer, adjunct college instructor and speaker. Jim’s culture blog and parenting articles appear on HomeWord.com. Jim is a contributing author of culture and parenting articles to Crosswalk.com. Jim and his wife Jenny live in Olympia, WA.
- 2011 May 17
Keep in mind that exceptions apply! Not every college graduate makes more money than a non-graduate over a lifetime. But, Pew Research does the math, and on average, college graduates do better financially.
The typical college graduate earns an estimated $650,000 more than the typical high school graduate over the course of a 40-year work life, according to a new analysis of census and college cost data by the Pew Research Center.
Of course, this difference doesn’t apply in all cases; some high school graduates are high earners, and some college graduates are low earners. Also, the monetary return to college is influenced by a variety of factors, including type of college attended and major field of study.
But on average—and after taking into account the fact that a dollar earned at the start of someone’s working life is more valuable than a dollar earned toward the end of that person’s working life18—the analysis finds that the typical or average high school graduate with no further education earns about $770,000 over a 40-year work life. The typical worker with a (two-year) associate degree earns about $1.0 million, and the typical worker with a bachelor’s degree and no advanced degree earns about $1.4 million.
Source: Pew Research Center