Does a College Degree Pay Off?

While bachelor’s degrees in the social sciences and humanities generally do not produce high salaries, they can be a great foundation for a lucrative career and graduate school. The real value of a college degree is not just the initial salary but the long-term wage growth that it can bring. In the computer and information technology field, there are many different occupations and employers are willing to pay high salaries for those with strong programming skills and the ability to manipulate data.

Value of a college degree

Many people wonder: Does a college degree pay off? Economists have put together a number that reflects the return on investment for a college degree. The return includes the cost of tuition and lost earnings. Generally, the return is high, with the exception of the first four years, during which the student has a negative cash flow. The calculation also accounts for the time value of money, which is discounted at the standard rate of five percent.

The average time it takes to recoup the cost of a bachelor’s degree has decreased significantly over the past few decades. In the late 1970s and early 1980s, it took over twenty years for a college degree to pay for itself. By 2013, this number had dropped to less than ten years. Although the time required to pay for a college degree is still below the all-time high, it is no longer a surefire ticket to a lucrative career.

Cost of a college degree

The average cost of a four-year college degree was $5,144 in 1963, and increased to $50,892 by 1989. Today, the cost of a bachelor’s degree is more than $101,584, largely due to tuition. Students often don’t consider fees, room and board, or food costs. In order to avoid financial hardship, students must research college costs and determine their financial situation before choosing a school.

The cost of a four-year college degree varies across institutions. In 1989, tuition and fees for public institutions averaged $1,730. By 2019, the average cost for a four-year degree at private for-profit institutions is $36,880. For more information, see our college tuition comparison. Listed below are some statistics about tuition costs. By state, public institutions tend to be cheaper than private for-profit schools.

Completion rates

The national average for six-year college completion is 62.2 percent. Regardless of the institution from which you started, this rate was up. In addition, two-thirds of states improved their completion rates from last year. If you’re wondering where you stand, try looking at the longitudinal data dashboard, which compares the rates of completion in each state. You can download all the underlying data. It’s not surprising that the graduation rate has been a problem in the United States for some time.

The last dataset included 5,315 students. Of these, 3,339 were enrolled long enough to graduate, while 2,358 did not. The completion rate was 62% for students who completed their degrees in two or four years, and 25 percent for those who finished their studies between three and six years. In addition, nearly half of all students who a two-year college completed a degree within three years, while a third earned a four-year degree.

Cost of an online degree

The cost of an online college degree can vary from college to college, depending on the program you choose. Some schools charge higher tuition than others do, while some assess an additional technology fee per credit hour. You should compare the tuition and fee structure of the different programs to determine the overall cost of an online college degree. The average tuition for a public four-year college in 2016 was $8,800, and that figure doesn’t include the technology fee or other fees.

Higher education can be an asset in many ways, including increased wages and career advancement. Online programs provide flexibility that traditional campuses cannot offer.

Colleges offering online degrees should be accredited and listed with the U.S. Department of Education. To find the best online degree program, look for a website that highlights affordable colleges, and compare costs and financial aid options. Make sure to check for quality and accreditation. There are several options to choose from, and there’s nothing wrong with getting an online college degree.