There are times as parents when we seem to be almost obsessed with the well being of our children. We struggle with granting them increased independence as they grow and mature. Our love for them compels us to want the best, and we’ll do what we can to help. One of the most significant things you can do to ensure your child’s future success is to pave a strong path for them to college. The benefits of a college education are significant.
A recent New York Times article took a look at a Pew study showing how different groups have fared during our current recession. The findings are not surprising. The recession’s impact is felt across all education levels, but the significant detail is exactly how much different groups were affected. Who is best equipped to weather the storm? College graduates. And not by an insignificant amount, either. Take a look at the graphic from the article.
The numbers show that workers with a bachelors degree not only maintained the best employment level, but also suffered the least impact in their actual earning. From the article:
Those with a bachelor’s degree started off in the strongest position and weathered the downturn best, with employment slipping from 69 percent to 65 percent. … People with four-year college degrees saw a 5 percent drop in wages, compared with a 12 percent decrease for their peers with associate’s degrees, and a 10 percent decline for high school graduates.
Few of us need to be persuaded about the importance of a college education, but it’s helpful to keep in mind the long-term benefit it provides. In addition to weathering economic downturns, those with college degrees can expect a significantly greater earning potential. The Hamilton Project evaluated the lifetime earning differences expected for individuals with a college degree compared to those with a high school diploma. It’s clear that the return on investing in a college education is dramatic. College graduates can expect to earn nearly a half million dollars more in their lifetimes than their high-school-educated peers. Here’s a graph from the report:
Academic Learning Labs is Orange County’s premier tutoring service specializing in helping students reach their academic goals through math tutoring, science tutoring, and SAT/ACT Prep programs. Located in Rancho Santa Margarita, we’re dedicated to helping your child fulfill their potential and partnering with you to propel them to success. We have proven tutoring programs that will equip your child to excel in high school and succeed in college as well. Call us at 949-546-0800 for details on our college preparation tutoring.