College and University educations are not cheap – but they will pay off in a big way. According to the U.S. Department of Education the 2011 median weekly pay for a person with “some college” compared to a person with a bachelor’s degree was over $300 a week; which reaches over $17,000 in just a year.
According to the U.S. Institute of Education Sciences, the average cost of a four-year degree for the 2010-2011 school year was $15,605 for public institutions and $31,975 for private insititutions.*
The return on investment for attending a university as an adult is clear – the tuition rates for public colleges and universities are less than the average increase in pay. That’s just one year! Additionally, some businesses will pay for their employees to attain a bachelor’s degree, or provide money towards the degree. There are also a variety of non-employer scholarship and grant opportunities available.
Stay tuned for the next blog, which will review some tips on paying for college.
*This figure includes tuition as well as room and board rates charged for full-time undergraduate students in degree-granting institutions.