It used to be that a high school diploma was all you needed to find a good job and make a living. In the world of today that is no longer the case. Even in a tough economy (especially in a tough economy), it pays to go back to school. Here are a few reasons why:
More Money: Studies show that the more education a person has the more likely he/she is to earn more money. A 2005 National Center for Education Statistics study found that people who did not graduate from high school earned an average of $21,333. People with some college earned an average of $30,566, and someone with a bachelor’s degree or higher made an average of $40,733. For most people, more education leads to more money.
More Opportunities: More and more employers are requiring job seekers hold a college degree. From the US Census information we know that the number of people 25 years and older who are college graduates is growing. That means if you do not have a degree you’re competing with more and more people who do. When companies have a large number of quality job applications, they can afford to reject anyone without a degree. For most people, more education means more job opportunities.
Lower Unemployment: Unemployment rates are usually lower for people who hold a degree. In 2005, the Bureau of Labor Statistics found that the unemployment rate for adults 25 and older with a high school diploma was 4.5%. For those with some college the unemployment rate dropped to 3.5%. People with a bachelor’s degree had the lowest employment rates at 2.4%. For most people, more education means more job security.
Lifelong Benefits: Studies have shown that having a college degree helps many areas of your life. A 1998 report showed that people with a bachelor’s degree saved more money, made better buying decisions, and had more hobbies. Even their children had a better quality of life. Also, a 2005 College Board report found that people who graduated from college were more likely to enjoy good health and have lower rates of heart disease and obesity.
Investment In Yourself: Jobs come and go, but knowledge stays forever. Once you earn a degree, no one can ever take that away from you. No matter what degree you pursue, education pays.
Hope Harris-Gayles, M.Ed
