A college education is a reliable path to long-term success, leading to higher income and lower unemployment. There are also several non-financial benefits to a college education. College graduates are happier, healthier and more public-spirited.
Is College Worth the Cost?
On average, the wage premium for college graduates exceeds the direct and indirect costs of a college education. Average income increases and unemployment rates decrease with higher educational attainment. So long as debt is kept in sync with annual income after graduation, the college graduate should be able to repay his or her student loans in a reasonable period of time.
Most and Least Lucrative College Academic Majors
What are the ten highest- and ten lowest-paying college majors for Bachelor’s degree recipients? Analysis of U.S. Census Bureau data reveals the facts.
There are several tools that students and parents can use to compare outcomes at individual colleges, including graduation rates, income after graduation, average student loan debt and unemployment rates.
Student loan debt at graduation is considered reasonable if the college graduate’s annual starting income is sufficient to repay the student loans within a reasonable number of years after graduation. So long as total student loan debt is less than the annual income, the borrower will be able to repay his or her student loans in 10 years or less.