Improves Quality of Life
Higher education leads to many benefits, including opportunities for a life-long career and financial stability. In today’s world, educational attainment plays an even more significant role in other aspects of people’s lives — it increases opportunity and improves overall quality of life and longevity. Higher education changes outcomes for individuals, their families and the U.S. economy.
According to the U.S. Bureau of Labor Statistics, the median salary earned by a person with a bachelor’s degree is $64,896, which is $33 per hour. This does not include the benefits packages and fringe benefits oered as a part of a regular compensation package. Future earnings vary based on degree type.
The earnings of the 583,667 bachelor’s degree recipients from private, nonprofit colleges and universities over the course of their 40-year careers will total $3.1 trillion dollars, support and sustain a cumulative total of 17.4 million jobs and generate $382 billion in fiscal impacts at the local, state and federal level.
The table below shows the impact of graduates from private, nonprofit colleges compared to students that opted not to pursue higher education after high school. Over a 40-year career, a degree at a private, nonprofit college or university generates an additional $2.1 trillion, supports and sustains 11.4 million jobs and creates $258 billion in local, state and federal taxes when compared to students not attending a private, nonprofit college or university.
