Americans With A College Degree Make 98% More An Hour Than Those Without A Diploma
Career College Central summary:
After staring at a depleted bank account for far too long, earning a low credit score thanks to late payments due to student loans and entering into an industry that has no clear connection to the major you graduated with, it's hard not to wonder whether college is truly worth it. Cash aside, it's an investment of time – time that could be spent kicking off your career early on and earning an income to help support you for years to come. And even with a college degree, there are still those who are taking jobs they are overqualified for, simply because they have no other options.
So is a diploma really worth it? Yes – at least according to a new set of income statistics. Sure, the struggle is real for current college students and alums alike, but a four-year degree has likely never been more valuable than it is today.
According to the new data provided by the Economic Policy Institute, Americans with four-year college degrees made 98 percent more an hour on average in 2013 than those without a diploma. That statistic in and of itself should have jolted you awake like a smooth shot of espresso. Really, 98 percent more? According to The New York Times, "That's up from 89 percent five years earlier, 85 percent a decade earlier and 64 percent in the early 1980s."
The New York Times article penned by David Leonhardt brings up many excellent points about the cost of college, but it was his argument that deciding not to attend college for fear that it's not a financially sound deal is among "the most economically irrational decisions anybody could make in 2014," is what stood out most.
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