Can You Afford College?

By: Terry Hadaway
Submitted: 2007-01-17 16:26:26
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It’s that time of year again when people desiring a college education begin to count the costs of going to school. It is a difficult decision, especially for non-traditional or adult students. With all of the strains on today’s budget, going to college can seem like a luxury. But is it really an option?

I understand that many people in today’s business world achieve success without a college education. I also realize that many people believe that a degree will somehow transform them into overnight successes. A degree doesn’t mean much; an education is priceless!

So, if you want a degree, print one, hang it on your wall, and see what difference it makes. But, if you want an education, stick with me. I think I have some important information for you.

We all know the cost of going to school is rising. In addition to increases in tuition, we have see the costs of books, housing, and transportation rise. Education a huge investment. Is it worth it?

Based on data collected through the 2000 census, the U.S. Census Bureau reports that a working adult who graduated from high school makes an average of $23,233. The same adult with an associates or two-year degree makes $31,684. But that same adult with a bachelor’s degree makes an average of $45,648 or $22,415 per year more than the high school graduate!

So, just how valuable is a college education over a person’s working career? Let’s suppose the high school graduate works 40 years at the same job and never gets a raise. Over a normal working lifetime, the individual will earn $573,960. The college graduate, with no raises over the same 40 years will earn $1,825,920—that’s $1,251,960 more than the high school graduate!

If I told you that you an investment of $30,000 today will result in more than $1.8 million in 40 years, you’d agree it would be a wise investment. Well, that’s exactly what I’m telling you! Do whatever it takes to continue your education. Can you afford college? You can’t afford NOT to go to college! Think about it!

Dr. Terry Hadaway is an author, motivational speaker, university professor, and conference leader who is recognized as a leading authority on elearning, decision-making, and adult education. Visit http://www.rapidfirelearning.com and click on Tools for College Students to discover proven strategies helping you become a more efficient student with How to Write a Paper and QuickRead.

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