You’ve probably heard a lot of talk about college, and you might be wondering if it’s really worth all the hype. According to the latest research, middle and high school students have the lowest-ever opinion of the value of a college education. So, is college worth it? Does it really affect your social, health, and financial futures? Let’s find out!
Social Benefits
Gallup and the Lumina Foundation conducted a survey that found college graduates are more likely to enjoy nightly family dinners, be the go-to person friends and family turn to for advice, and have job-ready skills that help them connect with people from all walks of life.
Beyond friends and family, college graduates are also more likely to have confidence in their abilities to achieve goals, vote in elections, and participate within their communities.
Health Benefits
College graduates also tend to be healthier. One reason for this statistic could be that more of them have health insurance, plus their employers tend to pitch in more for their health coverage. The higher the degree, the more likely a person is to rate their health as excellent or very good.
Financial Benefits
College graduates make more money on average than someone whose highest degree is a high school diploma. In 2019, adults who earned a college degree had a median household income of $95,700 per year, while adults whose highest degree was a high school diploma had a household income of $51,200 per year. That’s an average of $1.2 million more in lifetime earnings.
Adults with bachelor’s degrees tend to accumulate more wealth (the ability to pass on financial capital/value to their children) than adults whose highest degree is a high school diploma.
People with bachelor’s degrees are also less likely to be out of work. This might be because, in the past decade, all net job growth has gone to workers with a bachelor’s or graduate degree. 🎓💼
While college isn’t for everyone, and we will fully support you on whatever path you choose, we also believe that empowering you with information about the benefits of a degree will help you as you evaluate your options after high school and how you envision your future.