Is a college degree still worth it? Study says yes

Published on NewsOK Modified: June 24, 2014 at 10:40 am •  Published: June 24, 2014
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After subtracting tax benefits and average financial aid awards, the researchers said a bachelor's degree cost about $122,000 in 2013, while an associate's degree cost $43,700. Those numbers take into account that students held off earning money from a job to go to school. The study used data from the Bureau of Labor Statistics, Education Department and The College Board.

Even college graduates stuck in jobs that don't typically require higher education, such as coffee shop baristas or clothing store cashiers, have more earnings power than those with just a high school diploma, the report concluded. That suggests that even in those jobs, college graduates are paid more than workers with just a high school diploma.

Recent graduate Katie-Beth Vornberger thinks her degree will eventually pay off. The 24-year-old graduated from George Mason University in May with $20,000 in debt, even though she worked part-time to help pay for some of the tuition.

She's currently working in a paid summer internship where she helps a consulting company in Fairfax, Virginia, manage their social media accounts. She said she is earning about $4 more an hour than the job she had before graduating, which she attributes to having a degree.

"I'm hoping it turns into a full-time position," said Vornberger.

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Report: http://www.ny.frb.org/research/current_issues/ci20-3.pdf

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Follow Joseph Pisani at http://twitter.com/josephpisani



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