In my years of helping adults further their education through Tellis Education Services, I have witnessed adults going back to class after realizing how much value education holds. While some may describe education as a waste of money, some people can attest that they are where they are because of the degrees they have.
I am a big advocate for education as I have seen it change individuals and improve their quality of life. Education worthy investment to make, and regardless of the level, it has a good investment return.
Cost of college
With insights into the potential income for different education levels, you can analyze how beneficial education can be. Two years of college life in a public college will cost about $12,320, and four years of college in a public college will cost $21,370. Considering the returns that you will enjoy in the long run, it is an investment worth making.
Income for different academic majors
By evaluating the earnings of individuals with different degrees, you can point out the degree that has the best return on investment.
The Bureau of Labor Statistics conducted a study, and figures were collected on the weekly earnings per education level in 2019. The statistics give insights into what you could earn with certain education levels.
Persons with less than a high school degree takes home about $556 every week. For individuals that have high school diplomas, they earn about $736 weekly. On the other hand, if you have a college or associate’s degree, you will make approximately $826 every week. Individuals with bachelor’s and advanced degrees like masters earn $1,232 and $1487, respectively.
The statistics show that the higher your academic achievements, the more you will earn.
Job security depending on the education level
Apart from the level of income, job security is yet another thing that manifests that education is an investment. Through interaction over time with my students, I have learned that unemployment is feared due to the strain that it causes families. Job security is one of the factors that motivate adult learners to stay in class.
The higher your education, the more unlikely you will stay without a job. Workers with high school degrees have a 5.6% chance of being unemployed. On the other hand, an individual with a bachelor’s degree has a 2.2% chance of staying unemployed.
Disadvantages of not getting a diploma
While everyone’s dream is to get the highest income, it may be a gradual process since education level plays a part. This makes diplomas essential as this is where the academic journey gets traction and when people start reaping the fruits of education.
Not having a diploma limits you in the very competitive job market. Without a diploma, it means that you cannot advance your education further. You need a diploma to apply for colleges, creating the leeway to further your education.
The other disadvantage of not having a diploma is that it lowers your earning potential. With a low income, you will struggle to pay bills, save and have ideal living standards.
The higher your education level, the more attractive you are to employers. Persons with professional or doctorate degrees are 1.5% less likely to be employed. Job security is directly proportional to education level. The higher your studies, the more likely you are to secure a job.