Millennials

College graduates earn more; the cost of not going to college

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.

MillennialsCollege graduates were asked what they would have done differently in college. Here is what they shared with the researchers:

  • 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.