College is still worth it & then some
Bottom Line:Literally every long-term analysis I’ve done on the ROI of college education over the years has suggested that it’s worth it. At least as long as a student is intentional with their education and fairly efficient in completing their degree. The latest research produced by the Pew Research Center demonstrates how dramatic the difference in average outcomes has become in today’s changing labor market.
For adults under 37 (Millennials), here are the median household incomes based on level of education:
- College degree: $105k
- Some college: $62k
- High School: $49k
Any questions? For the first time on record average earnings are now more than double for college grads compared to those with a high-school education. That doesn’t mean that there aren’t exceptions, there are a myriad of rule-breaking entrepreneurs but generally speaking – it's a slam dunk decision to pursue a college education for career minded students. I’ll also point out that while some college grads cry foul or complain about student loan debt, this is evidence as to why there shouldn’t be any general forgiveness. College students are reaping the benefits of that education in the workforce. It’d be wrong to have those without it, and earning far less as a result, to have to subsidize the education for those who’re earning more than twice as much in the workforce.