Higher Education: A Roadmap to Opportunity
Advantages
Increasing your skills through higher education is more than just a trendy thing to do — it's a way to boost your earning power and employability throughout your career. As you weigh the pros and cons of going to college, here's some compelling information on how education pays.
2005-2006 National Median
Earnings by Education*
| Unemployment Rate in 2006 |
|
Median Earnings in 2005 |
| 6.8% |
Less than High School |
$25,039 |
| 4.3% |
High School Graduate |
$31,539 |
| 3.9% |
Some College, No Degree |
$37,135 |
| 3.0% |
Associate Degree |
$40,588 |
| 2.3% |
Bachelor's Degree |
$50,944 |
| 1.7% |
Master's Degree |
$61,273 |
| 1.4% |
Doctorate |
$79,401 |
| 1.1% |
Professional Degree |
$100,000 |
*Earnings are for year-round, full-time employed workers aged 25 and older; the unemployment rate is also for those aged 25 and over.
Source: www.postsecondary.org
Higher Education Can Pay Off
Jobs that require higher education typically offer higher wages than those that don't. There are exceptions, but spending money on education now means that you'll make more in the future. On average, wages increase with every additional degree earned.
In Minnesota, high school graduates are entering college in growing numbers. According to the Minnesota Office of Higher Education, about 64 percent of Minnesota high school graduates attended college the following fall.
Other Benefits
In the working world, there are some rewards to having an advanced degree that are often overlooked. Advantages might include being qualified for jobs with better benefits, better working conditions or a lower chance of being unemployed.
You also gain skills in higher education that employers look for — like critical thinking, teamwork, time management, research, problem-solving, writing and computer skills.
Whether you need higher education might still seem uncertain. And post-secondary schooling is not 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 or families are expected to pay the full multi-year tuition on their own. Financial aid is available help you cover the costs of the school you want to attend.
Although you might spend a significant amount of money, education is an investment in your future. Go to www.getreadyforcollege.org for more resources on college, financial aid, student loans and more.
Already Dropped Out of High School?
College is still an option for you.
If you don't have a high school diploma and aren't currently enrolled in high school classes, you might be eligible to take the GED. The Tests of General Educational Development is a group of five different tests measuring the skills and knowledge you'd typically learn in high school. Many employers and schools consider a GED to be equivalent to a high school diploma.
To learn more about the GED, visit the Minnesota Department of Education Web site
(http://education.state.mn.us), click on "Learning Support" and look under "Adult Basic Education and GED."
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