You will hear it a lot. Want more money? Get a degree. But is that true? Well yes. The basic premise, those with degrees will make more money over their lifetime than those without a higher education or advance degree.
Take a college graduate compared to a high school graduate. A high school graduate will earn an average of about $1.2 million over their lifetime. A college graduate can expect an average of about $2.1 million. What about higher degrees? Someone with a masters degree earns about $2.5 million. Those who have earned their PhD can expect an average of $3.4 million. These numbers come from a report called THE BIG PAYOFF published by the Census Bureau.
Let’s look a little deeper at these numbers. A high school drop out will make about $18,900 a year but a high school graduate will make about $25,900. However a college graduate can expect to make, again, on average, about $45,000 while doctors, dentists, lawyers and other with professional degrees can expect about $99,300. So the gap between a high school drop out and a professional degree earner is approximately $80,000 every single year! What a difference!
Getting that degree is not easy but it has become easier. We aren’t talking diploma mills. It will require studying, doing homework and proving that you have mastered the material by passing tests. But the ways of doing this have changed. There are many online programs available for working adults that will allow you to obtain your higher degree at your pace, while working and from anywhere that you have an internet connection and a computer.
So is online education right for you? First and foremost what are your goals and plans? You need to answer that first. Then once you know where you want to go you need to find an online college that will help you get there. Make sure you talk to friends and family and see if anyone you know has gone to school online. Referrals are always important. You will also want to attend an accredited institution and know that your units earned are transferable.
You laid out a formidable goal for yourself and selected an online school to help your reach that goal. Now how do you pay for this new adventure? You may already have discovered the answer while you were researching potential schools. A good online school will have a Financial Aid department that will help you through the process of affording your new education. Don’t let the word AID sidetrack you. It’s not about handouts. There are financial aid advisors who are well versed in how to pay for higher education through loans, scholarships, grants and cash payments. Make sure you ask lots of questions and feel comfortable with your Financial Aid advisor because they are as important to your success and an Academic Advisor.
Obtaining a higher income is possible through obtaining a higher degree, but first you must do your homework about what you want, the degree you wish to obtain, how much it will cost and what you can expect in Financial Aid. Once you have that done, you’ll be well on your way to earning your degree and increasing your salary. Study your options and study hard!
If you’re ready to pursue your education, start with an accredited online university. You’re sure to find the online college for military that’s right for you.
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