CHICOPEE, Mass. (WWLP) – There are many success stories of people who got a job right out of high school and had great careers. However, a new study found college graduates will earn $800,000 more by retirement than those who don’t get a higher education.
The Federal Reserve Bank of San Francisco found that was the pay off, even after accounting for college loans and four years that could have been spent at a job rather than in school.
Some students said college is worth it for more than just finding a job. Sarah Ana Seligman, a Smith College senior, said, “It opens your mind to many more things and many more possibilities and you gain access through going to college that you wouldn’t otherwise have, and I think hugely important in developing who you are.”
The benefits were greatest for those who went to public colleges because tuition was lower than at private schools.