Do those who graduate from college earn more over a life-time than those who do not go to college?  The short answer is “yes” but we must consider several larger issues:

• Don’t just think about the money.  Finding and achieving one’s purpose, making a difference, establishing a home, and living a life of satisfaction all exist outside the monetary return on investment question.  Don’t let the promise of a larger income dominate life’s decisions.
• Over a 40 year career of full time work, a person with a bachelor’s degree will make up to 65 percent more than that of a person with only high school diploma.  The data comes from the recent the College Board report “Education Pays 2013: The Benefits of Higher Education for Individuals and Society.”
• Not all degrees result in the same income.  For example, in 2011 the salaries for college graduates among wholesale and manufacturing sales representatives came in 76 percent higher than reps who completed their education with a high school diploma.  But among 2011 salaries for administrative assistants and secretaries those with a college degree earned only 15 per cent more than people in that field who had not gone to college.  Majors matter.
• The breakeven point for most people comes between ages 33 and 36.   Taking four years away from a working income in order to go to college along with the expenses of college costs money.   College graduates make up the difference in just over a decade at higher earnings.
• College graduates experience a healthier life.  Whether this good health comes from education or as a result of socioeconomic background remains unclear.

College graduates do make more money.  But it’s more than a simple “yes.”

The Chronicle of Higher Education (October 18, 2013) is the source of the facts on this matter.