Clark Howard's Tips

Census Bureau: College is worth the cost!

September 22, 2008

But new data from the Census Bureau presents another story. The latest figures show that having a college degree will net you an average of 67% more money over your lifetime vs. having just a high-school education.

Of course, there are always some high-school dropouts who wind up being multimillionaires -- they're more the exception than the rule.

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Clark was distressed by one factoid from the Census Bureau report: Having a master's degree does not boost income the way it used to. The additional pay is only 20% beyond a bachelor's degree.

People with advanced degrees are seeing their income shrink after inflation over the last couple of years. This is because of natural economic cycles; it's not a conspiracy where one political party has made it tougher on people! Meanwhile, Clark is also worried about the scapegoating of free markets and free trade.

There's no question that an education is worth it. But there's something going on beyond just money. Education gives you options for a fulfilling career.

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