College: It Pays to Stay

 

9928358213_1082abd6ac_hWhile student loans may appear daunting to some, it may be the best way to reap profits in the 21st century.

New data released from the Census Bureau shows individuals with a bachelor’s degree or higher (a third of the population)
receive one out of every two dollars earned in the U.S. This means a third of the population earns half the nation’s wealth.

However, those with less than a high school degree only earn five percent of the nation’s wealth. This marks a rapid decline from similar individuals earning 12 percent of the nation’s wealth in 1991. Alternatively, individuals with bachelor degrees in 1991 (roughly a fourth of the population) received closer to one in three dollars earned in the U.S. Thus, in 1991 a quarter of the population earned a third of the nation’s wealth.

Considering the information, individuals with college degrees saw a wealth increase of 20 percent since 1991, and manage to be the only demographic who have seen any sustainable salary growth.  Meanwhile, those without a bachelors have seen a four percent decrease in salaries since 1991.

Of course, it would seem obvious graduates receive a higher distribution as wealth as their ranks grow. However, their population increase does not account for the sheer scale of their wealth increase. Factoring in the population increase, graduates still received an extra $0.8 trillion of the GDP pie in 2014, showing a continual trend in wealth disparity and the importance of a college degree.

Source: PewResearchCenter



Categories: Academics, Nation & World

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