With hundreds of stories about college students graduating with mounds of debt and no prospects of a job, the question about the value of a college degree is justifiably asked.
The New York Times analyzes data from the Labor Department statistics by the
Economic Policy Institute in Washington, proving that the value of a four-year college degree is worth more today than it has ever been. In 2013, Americans with a four-year college degree earned 98 percent more an hour on average than people without a degree.According to another recently published study, the cost of a college education is negative $500,000, which proves that in the long run, not going to college will cost you about half a million dollars. The calculations came about by subtracting the cost of tuition and fees from the lifetime earnings gap between college graduates and high school graduates.
And while student loan stories are real, CollegeBoard reports that the average debt of a college graduate is $25,000, which is a small portion of the economic benefits of a four-year degree.
So despite reports of a tough job market for college graduates, it seems that the real job search struggle lies in the hands of those without a bachelor’s degree or beyond, proving that a college education is definitely worth the investment.