How Studying Hard Can Really Make You More Money
Although many people — both parents and young adults — are increasingly concerned about the cost of a college education, the fact remains that getting your education is still something most people in the United States put a great deal of worth in. A good number of people begin college, but postpone it to work (to avoid crazy amounts of debt) and never end up finishing their degree. They get married or have children and start a whole different life path. However, sometimes it behooves them to return to college and finish their undergraduate degrees. Financial reasons can be one of them, as well as setting an example for their children, or finishing a major life accomplishment for themselves. For any of these reasons, returning to school can be an amazing achievement.
Why Go Back To School?
In 2012, a Pew Research report showed that people with a bachelor’s degree made significantly more than those with just some college education or a high school diploma. Bachelor degrees made medial earnings of $45,500, only some college education earned $30,000, while those with only a high school diploma earned $28,000. In 2013, a study showed that Americans who held a four year degree from college made 98% more an hour than people who lacked a degree. That’s a huge difference!
And although, yes, college is expensive, there are ways around that (financial aid, scholarships, etc.,) and NOT going to college (or finishing your degree) could cost you about $500,000 on average, given extra wages and starting at a higher salary to begin with. Furthermore, almost 85% of all college graduates say that getting their degree has paid off in the long run.
So What Should You Study?
This may vary, depending on if you’re going back for your undergraduate degree or your master’s degree. Something more broad, like an English degree or a communications degree might be more beneficial to you in terms of finding work. An English degree will give you good analysis and writing skills, an ability to summarize and communicate effectively, and the creative tools to think outside the box, for example. However, if you’re going back to school for your master’s, a simple English degree may be too broad. A master of business administration is a popular choice for many — something practical and specific.
How Am I Going To Do It?
Colleges are growing increasingly flexible, both in time and price. Many colleges offer night or online classes for people who are working and going to school. Some campuses also make free transportation available — if you live near a college town or in one, getting to classes might be easier than you think. Many schools are also offering great scholarships, as a way to be more competitive and attractive. If you don’t make a lot of money to begin with, there is a good chance you might get enough through scholarships to afford it without breaking the bank.
Getting a good education is important. Don’t cheat yourself of the right to have one. You and your family will both benefit from your education and you’ll pave the way for the next generation of bright young minds.