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How Higher Education Pays Off

College can help you earn more money over your lifetime. On average, incomes increase with every additional degree earned. You are also less likely to become unemployed. By 2018, 70 percent of jobs in Minnesota will require some postsecondary training beyond high school.

More Education Pays Off in Higher Earnings

A survey from 2012 shows that average earnings grow from $471 to $652 per week just by earning a high school diploma. Getting a bachelor's degree increases average earnings to $1,066 per week.

Education Pays

Level of education Median weekly earnings in 2012 Unemployment rate in 2012
Some high school, no diploma $471 12.4%
High school graduate $652 8.3%
Some college, no degree $727 7.7%
Associate degree $785 6.2%
Bachelor's degree $1,066 4.5%
Master's degree $1,300 3.5%
Doctoral degree $1,735 2.1%
Professional degree $1,624 2.5%

Source: U.S. Bureau of Labor Statistics

In Minnesota, about 70 percent of Minnesota high school graduates attend college the fall after graduation. View college participation rates for more details.

Other Benefits

There are many benefits to having an advanced degree. You may have better employee benefits and working conditions and be less likely to be laid off. You also learn skills employers want:

  • critical thinking
  • communications
  • teamwork
  • time management
  • researching
  • problem-solving
  • writing
  • computer literacy

College isn't free. One way to reduce the cost is to attend a community college or short-term training program. But don't rule out a school simply because of cost. Few students pay the full tuition price. Most students qualify for some type of financial aid.

Keep in mind that education is an investment in your future. Visit Minnesota Office of Higher Education for resources on college and financial aid.