Does College Pay Off? Tuition Costs vs. Earning Power
College is an investment that involves money and time. It's a proven fact that the more you learn, the more you earn. But what about where you learn?
|Graduates of schools that cost a lot earn more than graduates of more affordable schools.||It's true that a higher tuition may translate into a higher salary, but when you consider the price of education vs. earning potential, more affordable schools often come out ahead.|
|The better the reputation that a college has, the higher the tuition.||Depending on your professional interests, you may not need an expensive degree to get a job and excel. Why overinvest in a bachelor's or master's degree if you can accomplish your goals with an associate's degree?|
|Elite schools offer smaller class size, with a low student-to-faculty ratio.||Studies show that smart students excel regardless of where they earn their degree.|
|Your education is one of the top factors that employers look at when making hiring decisions.||Even more important than your education is your experience, your course of study, and your GPA, according to the National Association of Colleges and Employers.|
|Prestigious colleges require higher SAT1 scores.||A study by the Harvard Business Review found that almost half of the top executives at Fortune 100 companies did not go to prestigious schools.|
Regardless of where you go to school, aim to keep your student loan borrowing to a minimum. A good rule of thumb is to not borrow more for your education than you intend to make in your 1st year out of school. Curious about the salary range is for your future career? Check out salary.com.
Want to Know More?
- Get the most bang for your buck by attending an in-state public school. According to the Wall Street Journal, it's the best value out there, in terms of return on investment.
- Take a look at some colleges that pay off at SmartMoney.com.
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