In light of the rising costs of college, you must question yourself if a college degree is required and what are the benefits of actually receiving one. Listed here are some interesting tidbits regarding college graduates.
- You should think of your college education as a long-term financial commitment. 2. You want to see a profit on your investment. It is a proven fact that the average lifetime earnings of someone without a college degree are $1.2 million dollars. An associate’s degree adds an average of $1.6 million to that total, an increase of more than $400,000 for two years of school.
A bachelor’s degree holder can expect to earn $2.1 million, or nearly $900,000, over the course of their career. That’s what you get for putting in the effort and spending the money to go to college.
There are a variety of degrees to choose from when you go to college, which determines how much time and money you’ll need to put in. As little as a few thousand bucks can buy you a technical degree in as short as six months. The overall cost of attending a four-year public institution, including tuition, books, room and board, and other living expenses, can be as high as $40,000 or more.
Living at home gives you more control over such expenses. Compared to attending the University of Northern Colorado, a student in Colorado can save nearly $10,000 by staying at home and attending Metro State University.
A degree will take some time to earn regardless of the method you choose. As many as one-third of college freshmen change their major at least once during their first year. If you decide on a major, it may take you longer to earn your degree because of the additional time needed to complete it. In addition, many institutions require students to take general education classes, such as history or arithmetic, if they plan to study music. This raises your expenses while providing you with almost little value in terms of what you will be paid to do.
The more education you receive, the more money you will make, according to statistics. A college degree in a field of interest has been found to improve health and well-being in the long run, as well. As a result, you’ll have a longer career and a better social life. Personal objectives and plans must be taken into consideration while weighing the costs and benefits of a college degree.