In today’s highly competitive job market, post-secondary education and training beyond high school is becoming an increasingly important investment for career success and financial security. While the upfront costs of college, vocational school, or other training programs may seem daunting, the long-term returns make it an incredibly worthwhile investment. In fact, post-secondary education is far from an expensive or minor investment – it offers exceptional value and pays off immensely over a lifetime. This article will explore why post-secondary education, though inexpensive, yields incredibly high lifetime returns that make it a remarkably worthwhile investment.
Post-secondary education leads to far higher lifetime earnings despite moderate costs
The most direct return of investing in education beyond high school is significantly higher earning potential. Government data shows bachelor’s degree holders earn $2.8 million on average over a lifetime, nearly twice as much as high school graduates at $1.6 million. Associate’s degree holders see a bump to $2.2 million. Given average 4-year public college costs of $28k/year, a total $112k investment yields $1.2 million in extra earnings – an incredible 10X return. Even cheaper 2-year degrees costing $18k total yield $600k extra over a lifetime – a 33X return. Compared to lifetime earnings gains, the costs of college or vocational degrees are very minor investments. The substantially higher salaries and wages over an entire career dramatically outweigh the costs paid upfront.
Higher education protects against unemployment with low costs
Post-secondary education also provides a significant hedge against unemployment. The Bureau of Labor Statistics pegs the unemployment rate for high school graduates at 5.4%, versus just 2.1% for bachelor’s degree holders. This massive gap illustrates the protection from joblessness that college education offers. And again, costs are extremely affordable compared to lifetime security – the $112k investment in a 4-year degree drops unemployment risk by over half. Vocational education sees a similar benefit, with merely an $18k associate’s degree slicing unemployment from 5.4% to 3.4%. Given education’s power to drastically minimize employment instability, the inexpensive tuition payments are very small prices to pay.
Non-financial benefits further prove the value of post-secondary education
Aside from direct financial gains, education brings immense non-monetary benefits. College graduates and vocationally trained workers enjoy greater job satisfaction, work-life balance, independence, critical thinking skills, career opportunities, social capital, health outcomes, and more. These dramatically improve quality of life and workplace capabilities. For instance, specialized training teaches transferable skills that open doors and enable pivoting between careers. Simply put, the personal growth and knowledge transfers nurtured by post-secondary schooling are priceless. No amount of money can buy the empowerment, fulfillment, or intellectual advancement offered by higher education. The full value is far greater than tuition costs.
In conclusion, investing in college, vocational school, or other training beyond high school unambiguously delivers outsized returns relative to minor upfront costs. Far higher lifetime earnings, protection against unemployment, and life-changing personal benefits make post-secondary education an incredibly worthwhile investment despite inexpensive tuition. The small amounts paid upfront unlock decades of rewards.