College degrees can make a big difference in earning potential

Although it can be expensive, earning a college degree can be a valuable investment in your future. According to some experts, the difference in potential earnings of college graduates versus high school diploma holders can be substantial, reports the Orlando Sentinel.

Students who successfully complete their degree can earn as much as $1 million more during the course of their working lives than individuals who only have a high school diploma. The news source reported that, according to data from the Department of Education, high school graduates took home around $20,000 per year. Students who finish college degrees earned much more on average, with salaries around $36,000 per year.

"The value of a university degree is, in some cases, worth millions of dollars over a person’s working lifetime," Alan Hodges, an economist and extension scientist with the University of Florida's Institute of Food and Agricultural Sciences, told the newspaper. "And not only does it mean higher earnings, but also a greater likelihood of employment – so all of this has real meaning for the current employment crisis."

According to a study by Georgetown University in Washington, D.C., earnings potential and an individual's employment prospects are also affected by which major they choose.

Before you fill out any college applications, think carefully about the kind of jobs you can get when you finish your degree.


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