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The Lifetime Value of Earning an Online Bachelors Degree

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What is the lifetime value of earning an online college degree?

The Lifetime Value of Earning an Online Bachelors Degree

The decision to earn a college degree requires an extensive investment of both time and money so it's easy to understand why people want to weigh the benefits of going to college against the alternatives. It's a long term commitment that requires considerable dedication. So, it is really worth it?

Earning an online bachelors degree is one of the smartest investments a person can make. In fact, according to the Census Bureau, the average adult with a high school diploma can expect to earn an average of $1.2 million while someone with a bachelors degree will earn $2.1 million (Day and Newburger, 2002). The financial benefits of a college degree are substantial and reflect more than just salary. Retirement benefits are generally higher since college educated employees tend to contribute more toward retirement accounts in addition to having higher salaries. Unemployment is also lower since better qualified employees tend to find work faster than less qualified workers. Combined it translates to greater savings and benefits throughout ones career and into retirement.

The benefits of higher education don't stop with salary or saving for retirement. By earning an online bachelors degree most employees become eligible for promotions that reflect their full aptitude and interest areas. A 1998 report published by the Institute for Higher Education Policy found an overall report of improved quality of life associated with higher levels of education, better health and enhanced relationships.

When considering whether or not to pursue an online bachelors degree be sure to compare the full lifetime earning potential with associated quality of life and retirement benefits.

   

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