August 2, 2017
College is important for many reasons, including long-term financial gain, job stability, career satisfaction and success outside of the workplace.
With more and more occupations requiring advanced education, a college degree is critical to your success in today's workforce. But earning a college degree can also have a significant impact on other areas of your life.
According to the U.S. Bureau of Labor Statistics (BLS), workers with a bachelor's degree earned an average of $464 per week than workers with only a high school diploma - a higher salary that can add up over the course of your lifetime. A 2015 report from the U.S. Department of Education found the average worker with a bachelor's degree with earn approximately $1 million more than a worker without a postsecondary education.
In addition to the potential to make more money, earning your college degree could also lead to more career stability. According to BLS data, just 2.7% of workers with a bachelor's degree are facing unemployment, compared to 5.2% of workers with only a high school diploma.
A 2016 Pew Research report found that 77% of workers with a post-graduate degree and 60% of workers with a bachelor's degree believe their job gives them a sense of identity, versus just 38% of those with a high school diploma or less. Workers with a bachelor's degree or more advanced education were are also significantly more to say their job is a career, with 70% viewing their job as a career compared to just 39% of workers with no college education .
Working-age adults with bachelor's degrees are 9.4 times more likely to have a bank account than those with a high school diploma as their highest level of education, according to a 2016 report from the Lumina Foundation.
College-educated adults were also less likely to have used expensive forms of credit. Just 2.3% of college-educated adults used pay-day and tax refund loans within the last year, compared to 9.2% of high school graduates without a college education.
A 2016 report from real estate company Zillow found that 75% of all home buyers were college-educated in that year, compared to just 11% who had a high school diploma only and 14% who attended some college but did not earn a degree.
Sixty-five percent of adults ages 25 and older with a bachelor's degree or more were married in 2014, compared with 53% of adults with less education, according to a 2015 Pew Research Center report.
A degree could mean a longer-lasting marriage, too. According to the report, researchers at the National Center for Health Statistics estimate that 78% of college-educated women who married for the first time between 2006 and 2010 could expect their marriages to last at least 20 years, compared to just 40% of women with a high school education or less.
Just one additional year of college education can decrease your mortality rate by 15% to 19%, according to a 2016 report by the Brookings Institute. In fact, high school graduates have a mortality rate that is double those with some college or a college degree, the report states.
A Lumina Foundation report found that college degree holders demonstrate healthier habits than non-degree holders.
The proportion of adults smoking daily falls significantly with an increase in education, the report states, from 20% of high school graduates without any college education to 5% of those with bachelor's degrees and just 3% of workers with graduate degrees.
The report also found a strong positive relationship between educational attainment and eating fruits and vegetables, exercising and wearing a seat belt.
Ninety-four percent of adults with a bachelor's degree or higher reported being happy or very happy with life, compared to 89% of adults with no college education, according to the Lumina Foundation report.
Earning your college degree can improve the lives of those around you, too. According to the Lumina Foundation report, 40% of working-age adults with a bachelor's degree volunteered in their community within the past year, compared to just 17% of high school graduates without any college education.
College degree holders also donated three times more money to charity than workers without any college education, were 1.5 times as likely to consistently vote in local elections and more than twice as likely to participate in a school, community or religious organization.
Susan Bogle is a marketing and student recruitment specialist in higher education. Follow her on Twitter @Suze1776 or connect on LinkedIn.
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