The difference is even higher when comparing employees with doctoral degrees (the median weekly salary is $1,623) with those with some or no college degree (the median weekly salary is $738.) In fact, not only will college graduates make more money, but not going to college could cost you dearly to the tune of $1 million in lifetime wages.
While you may wonder if these numbers apply to only graduates of Ivy League schools, the Economic Policy Institute numbers show that the benefits of college don’t just go to graduates of elite colleges, but to all college graduates with a four-year degree.
A study released by Georgetown’s Center on Education and the Workforce reveals that the difference in lifetime wages for different majors is enormous.
In fact, the difference between lifetime wages for the highest and lowest paying majors is $3.4 million!
70% of college graduates 25 years old and older had access to retirement plans in 2008 compared to 65% of associate's degree holders, 55% of high school graduates, and 30% of people who did not complete high school.
Students have the opportunity to interact with other students and faculty, to join student organizations and clubs, and to take part in discussions and debates.
According to Arthur Chickering's "Seven Vectors" student development theory, "developing mature interpersonal relationships" is one of the seven stages students progress through as they attend college. But you know something, by partying, they learn social skills.
They learn how to interact with each other…They develop skills which make them innovative.
Of course, it’s extremely important to note that our economy needs both teachers and engineers.
We need social workers just as we need accountants.