Value of college degree is growing, study says


Despite rising tuition and student-loan debt levels, the long-term payoff from earning a college degree is growing, according to a report to be issued Tuesday by the College Board, reports The New York Times. Workers with a college degree earned much more and were much less likely to be unemployed than those with only a high school diploma, according to the report, “Education Pays: the Benefits of Higher Education for Individuals and Society.” According to the report, the median earnings of full-time workers with bachelor’s degrees were $55,700 in 2008 — $21,900 more than those of workers who finished only high school. And the pay premium for those with bachelor’s degrees has grown substantially in recent years. Among those ages 25 to 34, women with college degrees earned 79 percent more than those with high school diplomas, and men, 74 percent more. A decade ago, women with college degrees had a 60 percent pay premium and men 54 percent.

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