The Benefits of a College Education


For many, accumulating funds for the children’s education is a savings goal that is often thought about, but seldom acted upon. There are numerous reasons why saving for college is an essential need.

  • Economics: Statistically, the average worker with a 4-year college education earns far more than the average worker with only a high school diploma.
  • Increasing costs: In recent years, college costs have increased at a rate greater than the general rate of inflation.1
  • Years of study: Four years of study may not be sufficient. In many professions, six or even eight years of study are required.


  • What is a College Education Worth?

    College educated, full-time workers statistically enjoy a higher median income than those with less education. In a recent report on education and earnings, 2 the Census Bureau found that those with four years of college could expect to have substantially higher annual earnings than high school graduates.


    Over a lifetime of work, 39 years on average, a four-year college education can increase a man’s total income by over $1,081,431. Because of time spent raising children, the average woman spends 28 years in the workforce. A college education could increase her lifetime earnings by over $530,964. 1

    What Does a College Education Cost?

    In recent years, college costs have often exceeded the general rate of inflation. The table below projects college costs for a small group of well-known institutions: