Thursday, March 19, 2009

Education really does pay

From a Ft. Worth newspaper:

The U.S. unemployment rate was 8.1 percent in February, the highest in about 25 years. A closer look reveals that the jobless rate is an alarming 12.6 percent for people who lack a high school diploma. It’s considerably lower, 8.3 percent, for high school graduates, and only 4.1 percent for college graduates.
A nationwide Census Bureau survey showed these estimated annual median incomes for 2007 for workers 25 and older at varying levels of education:
•$19,405, less than high school graduate.
•$26,894, high school graduate (includes equivalency certification).
•$32,874, some college or an associate (community college) degree.
•$46,805, bachelor’s degree.
•$61,287, graduate or professional degree.

I'm really, really glad to see that beloved son's expensive education should pay for itself. Eventually.


John Lambshead said...

I hope so Louise. I am just looking glumly at No.2 daughter's university fees.

Rowena Cory Daniells said...

In Australia we have something called HECs, pronounced Hex. (Very appropriately named). The kids sign their future earnings away to pay off their student loan. They don't have to begin paying it off, until they start earning a certain level. I've forgotten what it is.

3 of our 6 kids are currently in Uni. It is a real challenge to survive as a student, working part time and trying to study.

Ori Pomerantz said...

We had four kids in four years, and I'm not sure how we'll handle four college tuitions.

Our current plot and plan contains two elements:

1. Make them smart and well educated enough to get scholarships. Our oldest entered kindergarten last year reading books for upper elementary school (the "You Wouldn't Want to ..." series - highly recommended for history buffs).

2. Try to get them interested in learning a profession in high school. It's what I did.