Weigh the cost of college and your field of study carefully
Posted By RichC on September 6, 2014
A very telling graph discloses three things (see story in Fortune) :
- A college graduate will on average make $1 million more than a worker with a high school degree over the course of his lifetime … even though the cost of education has gone higher.
- Wages across the board, adjusted for inflation to 2013 dollars, are down from 1970 – and have seen a sharp decline since 2010.
- Just because you earn a Bachelor’s degree from college, there is no guarantee that your income will be all that much different than those with high school diplomas (blue line vs. green line for 20% of college graduates).
Be particularly careful when evaluating your readiness for college, the field of study and how much debt is being taken on before assuming higher education is the ticket to a higher income – for 25% of degreed graduates, it is not.
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