What is a college degree worth today?Dec 19th, 2012 | By Walter Pearson | Category: LEAD STORY
A new report from the State Higher Education Executive Officers points out that skepticism about the value of a college degree is just off base:
“…the evidence clearly demonstrates the value of a college education. According to our analysis of U.S. Census data, those who obtain a bachelor’s degree have a median income of $50,360 compared to a median of $29,423 for people with only a high school diploma. An associate’s degree leads to a median income of $38,607, more than $9,000 higher than a high school diploma. Those with a graduate degree have a median income of $68,064, 35.2 percent more than those with a bachelor’s degree.
Additionally, The College Advantage: Weathering the Economic Storm, from the Georgetown University’s Center on Education and the Workforce, shows that workers without a college degree have been significantly worse off in the recent economic downturn than those who have attended college. Four out of every five jobs lost in the recession were held by workers with no post-secondary education experience. Although the unemployment rate for recent college graduates is higher than for older workers with comparable education levels, their unemployment rate of 6.8 percent is still more than 17 points lower than for new high school graduates, which is at 24 percent.”