Why Study?

From a life-span perspective, college graduation is a good investment, for individuals (they become healthier and wealthier) and for nations (national income rises). That long-term perspective is the main reason why nations that control enrollment, such as China, have opened dozens of new colleges in the past two decades. However, when the effort and cost of higher education depend on immediate choices made by students and families, as in the United States, many decide it is not worth it, as illustrated by the number of people who earn bachelor’s degrees.

Current College Enrollment among U. S. 18 to 24 Year Olds

A bar graph compares the percent of enrollment among 4 different ethnicities, White, Black, Hispanic and Asian, across the years, 2000, 2010, and 2017.

• 2000: White 39%; Black 31%; Hispanic 21%; Asian 55%.
• 2010: White 42%; Black 38%; Hispanic 31%; Asian 63%.
• 2017: White 41%; Black 36%; Hispanic 36%; Asian 63%.

Data from: National Center for Education Statistics, February, 2019.

If the above graph showed how many in each group ever attended college, the numbers for Black and Hispanic people would be closer to the numbers for Asian people, many of whom earn both Bachelor’s and advanced degrees during this six-year period.

Highest Level of Education Attained by U. S. Adults

The percent of U.S. residents with high school and college diplomas is increasing as more of the oldest cohort (often without degrees) dies and the youngest cohorts aim for college. The data below are for people ages 25 and older. In 1968, half of them reached high school age when education past eighth grade was a luxury, expected for those who were rich, native-born, and white, not for the general population.

8 years or less of primary school

In 1968: Men, 41%; Women, 39%. In 2018: Men, 3%; Women 3%.

4 years of high school

In 1968: Men, 17%; Women 21%. In 2018: Men, 30%; Women, 32%.

4 years or more of college

In 1968: Men, 9%; Women, 8%. In 2018: Men, 31%; Women, 28%.

Data from U.S. Census Bureau, February 19, 2018.

Income impact

Over an average of 40 years of employment, someone who completes at least a Master’s degree earns 1.5 million dollars more than someone who leaves school in eleventh grade. That translates into more than 200,000 dollars for each year of education from twelfth grade to a Master’s. The earnings gap is even wider than those numbers indicate because this chart includes only adults who have jobs, yet finding work is more difficult for those with less education.

Average Annual Income Based on Education (in U.S. Dollars)

• Not a high school graduate: 25 to 34 year olds, $20,000; 45 to 54 years old, $30,000.
• High school graduate: 25 to 34 year olds, $30,000; 45 to 54 years old, $38,000.
• Some college, no degree: 25 to 34 year olds, $32,000; 45 to 54 years old, $41,000.
• Associate’s degree: 25 to 34 year olds, $38,000; 45 to 54 years old, $45,000.
• Bachelor’s degree: 25 to 34 year olds, $50,000; 45 to 54 years old, $70,000.
• Master’s degree: 25 to 34 year olds, $59,000; 45 to 54 years old, $83,000.
• Professional degree: 25 to 34 year olds, $80,000; 45 to 54 years old, $150,000.

Data from National Center for Education Statistics, September, 2018.