Introduction
Investing in your child's future
It's one of the best investments your family can make, especially when it comes
to a college education. The Census Bureau reports that the lifetime earning
power of a college graduate is nearly $1 million more than that of someone with
only a high school diploma.
What can your child earn?
average annual earnings by education level |
| Less than high school |
$23,400 |
| High school/GED |
$30,400 |
| Associate's Degree |
$38,200 |
| Bachelor's Degree |
$52,200 |
| Master's Degree |
$62,300 |
| Doctoral Degree |
$89,400 |
| Professional Degree |
$109,600 |
Source: U.S. Census Bureau, Current Population Surveys, March 1998,
1999, and 2000. |
Employment rates are also linked to education
The unemployment rate for college graduates is typically 70 to 80 percent lower
than those with just a high school diploma, according to the Bureau of Labor
Studies. They also report that a college degree will be required for six of the
ten fastest growing occupations over the next eight years.
More proof that a
college education pays off!
Student loans are the most popular tool used to finance an education
This is true of most of today's college students. Nearly 65 percent of families
who need help paying for college rely upon student loans. One look at the chart
below will confirm that the college graduate's higher income more than
justifies the cost of the student loan.
| Education Pays Off |
| Average student loan amount for college graduates: |
Average yearly income |
| 2-year community college |
$8,700 |
$38,200 |
| 4-year public college |
$17,100 |
$52,200 |
| 4-year private college |
$21,200 |
Source: National Student Loan Survey and U.S. Census Bureau |