Most families worry about the cost of college, student and parent debt and getting a good job after graduation.
But have you ever considered the costs of not going to college? The Pew Research Center, published a report in October, 2013, comparing 2,000 Millennials, (adults aged 25 to 32), with college degrees and those with high school diplomas. This is what the research found:
- College graduates will earn about $17,500 more a year than adults with just a high school diploma.
- Millennials with a high school diploma can expect to earn 62% of what a typical college graduate earns.
- College graduates are less likely to be unemployed – 3.8% vs.12.2%.
- 90% of college graduates say their college degree has already paid off.
- 22% of high school graduates are living in poverty, compared with 6% of college graduates.
- Would have gained more employment experience while in school.
- Would have started looking for a job sooner than or picked a different major.
- Would have studied harder.
Whenever you feel discouraged or feel that college is not worth the investment of time and money, review these statistics.