Like everything else these days, college costs continue to climb, leading many Americans to question whether a bachelor’s degree is still worth the price. As high school seniors across the country prepare for their first year of college, parents can rest assured that tuition is money well spent, as a new study finds that college grads tend to earn a lot more money in the long run than those who never went to college. Even liberal arts majors.
The research from the Postsecondary Commission tracks around 29-thousands students who started bachelor’s degree programs in the 2008-09 academic year.
- Their “cumulative net value-added earnings” were tracked over the next 15 years. This compares their total earnings with those who never went to college and subtracts educational expenses, including tuition and room and board.
- It turns out, on average, college grads earned much more than high school grads during that 15-year period, almost $87-thousand more.
- Engineering and architecture degrees had the highest returns, but even liberal arts degrees, which often come with lower earnings, still brought in about $35-thousand more than those without bachelor’s degrees.
The Bachelor’s Degrees That Pay Off Most Over Time
- Engineering & architecture
- Business & economics
- Security & protective services
- Agriculture & natural resources
- Biology & health
- Physical sciences & math
- Communications
- Social sciences
- Parks, recreation, leisure & fitness studies
- Liberal arts
Source: CBS News