We all know that the more education a person has, the more money he or she will tend to make in their lifetime. This is true whether the person is a high school graduate, or a college graduate. A simple thing to keep in mind is that a bachelor’s degree is now worth twice as much as a high school diploma is. A Ph.D. is now worth twice as much as a bachelor’s degree is.
The mean income earned by high school graduates was about thirty one thousand dollars in 2007. This estimate was roughly twenty six thousand dollars less that the salary earned by a person who has graduated college, according the U.S. Census Bureau. Over the course of about 45 years working, that would amount to about a million dollars. Even having a two year associates degree means that you would be making about one hundred and eighty thousand dollars more than a high school graduate.
Estimated by the Alliance for Excellent Education, twelve percent of the population between the ages of 25 and thirty four who have dropped out of high school are receiving public assistance. Out of the people who have graduated from college, only about one percent receives public help. Only about three percent of college graduates live at or below the poverty line, while almost twenty five percent of high school drop outs do. Fifty percent of the single mothers who have dropped out of school now live below the poverty line.
People who do not have a college degree not only face making a lower salary, but they face job troubles. This is because so many blue-collar jobs are scarce. The numbers of jobs that require a college degree are increasing. A lot of employers feel as if having a high school diploma is not enough qualification. The unemployment rate for a high school graduate is almost four times as high as a college graduate, according to the Bureau of Labor Statistics.
We all know that all diplomas and degrees are not equal. A bachelor degree in the arts is worth less than having a bachelor’s in science. A person who majored in engineering may make eighty thousand a year, while English major could only earn about thirty thousand a year. A high school dropout or graduate who works in construction could make more than their classmate who works in the retail business.