Wednesday, January 20, 2010

College Education 101 bang for you buck

The value of a college education is dependent on getting the most bang for your buck. In order to get the most bang for your buck, we must understand the economics of the degree obtained.  To be successful after college and in your career, students must be smart,  attend a high quality college, and earn a degree in high demand.

The real value of a college education based on a US News report is about $300,000 during a life time.  College graduates on average earn $20,000 a year more than high school graduates. For the average person who works 40 years that amounts to $800,000 minus inflation over these years, the real dollars are $450,000 today.  Subtract the cost of the college education at $30,000 per year and that gives you at net value of $300,00.

The benefits of a college degree are: a good quality job with benefits such as health insurance. Typically college graduates can find and keep their jobs. The unemployment rate of college graduates tends to be must lower such as  2 - 3%.  Most college graduates who are willing to work hard, have smartest, and dedication can find a rewarding and well paying career.

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