If you’ve started looking at the costs of college, you’re undoubtedly having some sticker shock. Yes, it’s expensive but unlike investing in a car, the money you spend now will be returned many times over. Here are a couple of statistics from the U.S. Department of Labor to prove it.
- College-educated workers will fill one quarter of all first-time jobs. Between 2004 and 2014, BLS projects 55 million job openings for workers who are entering an occupation for the first time. Of these, at least 13.9 million (25%) are expected to be filled by college-educated workers.
- As a whole, college-educated workers earn more money than workers who have less education. In 2005, workers who had a bachelor's degree had median weekly earnings of $937, compared with $583 weekly for high school graduates.
- College-educated workers are less likely to be unemployed. At 2 percent, the 2005 unemployment rate for workers who have a bachelor's or higher degree is half the rate for high school graduates (4 percent) and less than a third of the rate for dropouts (7 percent).
Higher earnings and less unemployment combine to make a strong case for a college education. Whatever sacrifices you make for your college education in the short term are going to be more than repaid in the long term. Consider college an investment in your future and start making it happen.