Is a college education worth the price?
The data says yes.
A recent study published by the Federal Reserve Bank of New York found that a worker with a bachelor’s degree earns, on average, more than $1 million more in a lifetime than a worker with a high school diploma.
The study analyzed median annual income based on education level, as well as the direct — and indirect — costs of attending college.
Ultimately, the authors said, “The return to a college degree has held steady for more than a decade at around 15 percent, easily surpassing the threshold for a sound investment."
You don’t have to wait a lifetime to see a return on your investment, though.
The National Center for Education Statistics regularly looks at the income of young American workers, ages 25 to 34, comparing everything from sex to race and ethnicity to education.
The results were clear.
In 2012, the average young worker with a high school diploma earned $29,960 a year. The average young worker with a bachelor’s degree earned $49,900 on average. And a master’s degree yielded an average income of $59,620 for young workers.
That four-year degree can mean an average of nearly $20,000 a year even early in your career.
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