Benefits of Earning a College Degree
- Make More Money. For most people, the ability to earn more money is the driving force behind going to college. ...
- Benefits for You and Your Family. Obviously, higher income is a primary benefit of earning your college degree. ...
- Better Career Opportunities. ...
- Job Security and Satisfaction. ...
- An Investment in Your Future. ...
- Networking. ...
- Personal Development. ...
What are the financial benefits of a college degree?
Better-paying jobs, most of which require a college degree, can also offer better perks, like retirement contribution matching, health insurance, health savings accounts, childcare stipends, tuition reimbursement and commuter benefits. Lucier, Kelci Lynn. "6 Financial Benefits of a College Degree."
What are the benefits of investing in a college education?
You can leverage the relationships you've made in college and your school's alumni network well after you've graduated, like when you're looking for new job opportunities. That's decades of value from an investment of just a few years. 5. You'll Experience Indirect Financial Benefits
What are the benefits of going to college after graduation?
You'll Have Access to Jobs With Better Benefits. There's more to any job than just the take-home pay. Better-paying jobs, most of which require a college degree, can also offer better perks, like retirement contribution matching, health insurance, health savings accounts, childcare stipends, tuition reimbursement and commuter benefits.
What are the benefits of earning more money?
Earning more money means you're more likely to be able to meet your financial obligations, like regular bills and loan payments. That can help you avoid paying bills late or having a debt go to collections, which can hurt your credit.
What are the benefits of attending college?
10 Benefits of Having a College DegreeIncreased Access to Job Opportunities. ... Preparation for a Specialized Career. ... Increased Marketability. ... Increased Earning Potential. ... Economic Stability. ... Networking Opportunities. ... A Pathway to Advancement. ... Personal Growth and Improved Self-Esteem.More items...•
What are 4 benefits of going to college?
So here are five reasons why college is important and why you might want to earn a degree.Higher Potential Income. ... Lower Unemployment Rate. ... More Competitive in Job Market. ... Improved Communication and Analytical Skills. ... Stronger Career Network.
What is one of the monetary benefits of attending a community college before a university?
So, if your local community college charges $125 per credit hour, each class will cost you $375, which means you're saving up to $1,425 per class. That adds up fast. Attending a community college for two years enables you to get all your basic classes out of the way while saving a significant amount of money.
What is the biggest benefit of going to college?
10 Benefits of a College DegreeEarn more money, experience less unemployment. ... Raise your voice! ... Call the shots—be your own boss. ... Transform your family tree. ... Invest in and shape our democracy. ... Never stop evolving. ... Pay it forward. ... Bring your ideas to fruition.More items...•
What are some economic benefits of going to college?
Earning a four-year degree boasts a personal benefit of nearly $2.3 million in total lifetime earnings for graduates — 84 percent more than those with only a high school diploma — but research suggests that a college-educated workforce could have a positive impact for all wage earners.
How does college education benefit society?
Societal benefits include: Higher levels of education correspond to lower levels of unemployment and poverty, so in addition to contributing more to tax revenues than others do, adults with higher levels of education are less likely to depend on social safety-net programs, generating decreased demand on public budgets.
Why do people go to college before university?
Attending a community college can be an excellent springboard for a variety of students seeking a bachelor's degree. Some benefits include lower tuition, smaller class sizes, a supportive academic and social community, and a flexible offering of courses including night classes.
What are two advantages of attending a community college instead of a four-year college?
Discover why students should consider community college. The traditional four-year college experience isn't for everyone. ... Money. ... Academic flexibility. ... Financial aid. ... School-life balance. ... STEM education opportunities. ... Transfer agreements. ... Elements of traditional college.More items...
What is an example of a scholarship?
An example of scholarship is when you study for a master's degree. An example of a scholarship is when someone pays your college tuition for you. A specific gift of money or other aid, as by a foundation, to help a student pay for instruction. The knowledge attained by scholars, collectively.
What are the benefits of a bachelor's degree?
Here are some of the many financial benefits often enjoyed by college graduates. 1. You'll Have Higher Lifetime Earnings. People with a bachelor's degree earn about 66 percent more than their peers with only a high school diploma, according to the Bureau of Labor Statistics. A master's degree can net you twice as much as someone with ...
Why is it important to get a degree?
Keep in mind it's very important to actually get your degree in order to increase your earning potential and chances of employment because people with some college and no degree don't fare much better than people with just a high school diploma. 3. You'll Have Access to More Resources.
What does it mean to go to college?
Going to college means you can take advantage of your school's career center or internship programs, which can help you land your first post-graduate job. 4. You'll Have a Professional Network Before You Start Working. Don't underestimate the value of connections.
Do associates degrees lower unemployment?
Even two years of extra education can make a big difference, as people with associate's degrees have a significantly lower unemployment rate than people with high school diplomas.
Does a degree increase your credit score?
5. You'll Experience Indirect Financial Benefits. While having a degree won't automatically improve your credit rating, for example, having a good job that you got because of your degree can indirectly increase your credit score.
Does earning potential help your credit?
On top of that, increasing your earning potential can also improve your ability to save money, which can help you avoid debt.
What are the benefits of college education?
The good news is that the skills you need to master as a student translate to personal benefits of a college education as they help teach time management, budgeting, working with others and resourcefulness. 9. Improve Your Communication and Analytical Skills.
What is the unemployment rate for college graduates?
According to the Bureau of Labor Statistics, in April 2018, college graduates experienced a 2.1% unemployment rate, compared to 4.3% for high school graduates. The overall unemployment rate for adults able to work was averaging 3.6%, so it’s easy to see why having a college degree can help keep you shielded from being unemployed.
Why has attendance increased?
You may be wondering why the attendance has grown more despite the huge increase in costs, and that’s because the benefits of a higher education are growing faster than the costs.
Why is college important for communication?
Besides the personal life skills gained, college coursework prepares you with better overall communication skills that are beneficial for the workplace. From oral communication and presentation skills to writing, working in a team and research, higher education teaches you to see the big picture and be able to analyze situations better so that you can be a problem-solver.
How long do people with a bachelor's degree live?
According to a recent CDC study, those who obtain a bachelor’s degree or higher tend to live about 9 years longer than those who don’t. This doesn’t mean that simply going to college makes you live longer, but it is correlated to lower smoking rates for college educated individuals and overall, the fact that more educated people tend to make better choices to positively affect one’s life span.
Why is it important to find a job that you enjoy doing?
Additionally, when it comes to psychological health, since we spend so much time of our lives at work, it’s important to find a job that you enjoy doing. With more education, you’re naturally expanding the amount of opportunities to secure a job and grow your career.
Is University of the People tuition free?
Whether you apply for scholarships and grants, take out loans, or attend a completely tuition-free online institution like University of the People, the benefits of going to college continue to rise.
How much does college cost?
At first glance, going to college can seem like a financial impossibility for many Americans. Over the past 40 years, the average price of college has more than doubled when taking inflation into account. The average public 4-year school now lists their total cost of attendance (which means tuition, room, and board) at nearly $20,000 year. The price of private colleges is listed even higher, with an average cost of attendance above $40,000/year:
What happens if you drop out of college?
Students who drop out of college have substantially lower earnings, higher unemployment, and greater likelihood of defaulting on their debt than students who ultimately graduate: This brings us to perhaps the most important point about the economics of higher education.
Does Stanford give financial aid?
Most top universities like Stanford give financial aid to everyone , but there may be some limitations for international students. For example, some universities are need-blind when considering American applicants, which means they don’t take into account how much financial aid is needed when accepting applicants.
Is earning potential important for college?
Earning potential certainly isn’t the only criteria for choosing a major, nor is it necessarily the most important – after all, if you choose something you hate, you probably won’t be very good at it! However, you should be aware up front that your choice of major in college will impact the economic value of your degree. In addition, finding one's first job (s) can be substantially more difficult with some majors than with others.
Is college an investment?
In short, yes - college can be one of the very best investments that you make.
Is college for everyone?
Certainly, college isn't for everyone. Some students aspire to careers that simply do not require a 4-year degree. If you want to become an electrician, for instance, you may be much better served in a vocational school or apprenticeship program than at a traditional 4-year college. Even for those who do desire a career ...
Does private aid reduce the cost of college?
On top of government grants, there is also private aid – both from individual colleges and private scholarship granting organizations – which can reduce the actual cost of attendance even further. Some argue that continuing to college means giving up the chance to get a job immediately out of high school and begin earning money.
Why is college important?
Gain financial responsibility. With the financial independence and responsibility that it brings, college could be a great opportunity to expand your financial literacy. Between student loans and potential expenses like textbooks and rent, learning to manage your finances well is extremely important.
What does college teach you?
College won’t only teach you how to become a good student; it can also teach you skills that will help you succeed in any career. Many schools have mandatory courses for underclassmen that promote collaboration and group work, skills that will equip you to share ideas and communicate with team members in any setting.
Why is networking important in college?
Networking is important: Job website Indeed says that networking is essential because it can “provide job leads, possibilities for advancement and opportunities for personal improvement.” The connections you make can help you get a jump-start on your career, and those relationships can challenge your ideas or provide new insights.
How to find the best college for me?
Do your research: Visit the website of the school you’re considering and conduct a search of the total costs, the details of applying and the programs that it offers. Doing the proper research is crucial to make sure that you’re at the best college for you.
Is Bankrate a strict editorial policy?
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
Is it worth getting a college degree?
A survey conducted by the Association of American Colleges and Universities (AACU) found that 87 percent of employers agree that getting a college degree is either definitely worth it or probably worth it.
Is it possible to become financially independent?
Learning to be financially independent isn’t the only opportunity you will have as a college student; studies show that college graduates are more likely to become financially stable upon graduation. A College Board report states that individuals with higher education levels “earn more” and are “more likely than others to be employed.”
