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-more advanced moral reasoning
-clearer sense of self-identity

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-spend more time with children
-involved in stimulating educational activities

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-higher voter participation
-more awareness of/interest in current events

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Download the fact sheet & infographic.
Over 60 percent of bachelor's degree holders earn their diplomas from public universities and public university graduates play a central role in enhancing their communities. Although the public often emphasizes the benefits of a college degree to graduates themselves, the benefits to society are just as important. Through volunteer work, leadership, and philanthropic contributions, public university graduates enrich the civic and economic life of their communities. They also contribute more in taxes and are less reliant on government services than their peers whose highest degree is a high school diploma.

A More Vibrant Society

By nearly any measure, college graduates outperform their peers who have only completed their high school degree. For example, the average graduate is 24 percent more likely to be employed and average earnings among graduates are $32,000 higher annually and $1 million higher over a lifetime. Moreover, those with college degrees are more than twice as likely to volunteer and they contribute nearly 3.5 times more money to charity. And 75 percent of bachelor's degree completers vote in presidential election years, compared with about 52 percent of high school graduates.

What's more, college graduates are considerably less reliant on government programs and services than those with a high school degree. These government programs include Medicaid, housing subsidies, nutrition assistance, unemployment benefits, and other public assistance. For instance, those who graduated college are 3.5 times less likely to impoverished and nearly five times less likely to be imprisoned. In all, lifetime government expenditures are $82,000 lower for college graduates than for those with high school degrees.³

Governments also rely on college graduates for a disproportionate share of their tax revenues. Because college graduates typically earn more and higher earnings are taxed at an increased marginal rate, they contribute over $510,000 in taxes during their lifetime-$273,000 more than a high school graduate.

All told, an average bachelor's degree recipient contributes $381,000 more in taxes than they use in government services and programs over their lifetime. Those with high school degrees contribute just $26,000 more. That's a contribution of $355,000 more per bachelor's degree holder over those whose highest degree is a high school diploma. Those with advanced degrees contribute even more-another $167,000 on top of the $355,000 for those whose highest degree is a bachelor's degree.³

On average, state and local governments contribute $7,000 per full-time bachelor's degree-seeking student-or about $28,000 for a student who earns a degree in four years. In other words, the $28,000 in state and local investment results in $355,000 reduced government spending and increased tax revenues across all levels of government.

Public universities also play a central role educating students in areas of national need. In 2015, public universities awarded 63 percent of all bachelor's degrees and 53 percent of all graduate level degrees and certificates in areas of national need as defined by the federal government, including agriculture, computer science, health, education, engineering, biology, physical sciences, math, foreign languages, social work, and protective services.
Download the fact sheet & infographic.
1. College Board, " Degrees Granted by Type and Sector over Time," 2015.
2. Abel and Deitz, " Do the Benefits of College Still Outweigh the Costs," Current Issues in Economics.
3. Trostel, Lumina Foundation, " It's Not Just the Money," 2015.
4. U.S. Census Bureau, Current Population Survey, November 2012.
5. State Higher Education Executive Officers Association, " State Higher Education Finance Report: FY 2015."
6. Compiled from data provided by National Center for Education Statistics, IPEDS.

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How do college graduates benefit society at large?

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Download the fact sheet & infographic. Over 60 percent of bachelor's degree holders earn their diplomas from public universities and public university graduates play a central role in enhancing their communities. Although the public often emphasizes the benefits of a college degree to graduates themselves, the benefits to society are just as important.

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-higher rate of job satisfaction
-independence in professional and personal lives

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Relationships & Money

As a young adult, college is a super exciting time in your life. But making payments on your student loans long after you graduate? Not so exciting.This leads a lot of people to ask: Is college worth it?

The average cost of just one year at college can range anywhere from $21,370 for a public, in-state university to a whopping $48,510 for a private university.⁽¹) Multiply that by four years, and the total is crazy! If you're taking out student loans to pay for college, you'll be tens of thousands of dollars in debt before you even graduate. No thanks.

I see way too many people struggling to pay on their student loans while their future is at risk. It's a common problem that's only getting worse: America's total student loan debt is now over $1.6 trillion.⁽²⁾

Think of the toll that debt takes on your goals and dreams. Depending on the loan repayment plan, it can take up to 30 years to pay off student loans.(3) That's a huge part of your life you can't get back.

Listen: It's never a good idea to go into debt. But no matter what you might think, you can pay cash for school. It just takes some hustle. So, before you start wearing that certain school's colors 24/7, ask yourself this question: Is the cost of college really worth it?

When Is Paying for College Worth It?

Let's be real. I'm a big fan of college, but there are pros and cons to any major life decision. And it's wise to look at them carefully. So right now, let's weigh the pros of going to college.

College graduates tend to make more money.

According to the Federal Reserve Bank of New York, the median income for a high school graduate is $28,000, while those with a bachelor's degree make around $44,000.⁽⁴⁾ As long as you graduate debt-free, that college diploma could help you build wealth a lot quicker than if you didn't go to college.

Many jobs require a college degree.

You can choose from plenty of exciting careers without a degree. But certain jobs like teaching, nursing, engineering and law all require at least a two-year degree. Graduating college can open doors to career paths that would be closed to you otherwise. Not to mention having a degree might put you ahead of your competition during the job hunt, even for jobs where a degree isn't required.

You learn a lot inside and outside the classroom.

In college, you're not just learning concepts and taking exams. Your classes help you build skills you'll need in the workforce, like problem solving, critical thinking, teamwork and organization. Yeah, you could gain this experience in other ways, but it's part of what makes the college experience a good investment for a lot of people.

College is also a great opportunity to branch out and meet people from all walks of life. You never know what you might learn from someone with a different background than yours. And universities are usually melting pots of cultures, religions, political views and other beliefs. While your core values will probably remain the same, you'll hopefully gain a better understanding of where others are coming from.

You'll have access to more opportunities.

Internships are one of the best ways to gain on-the-job experience-and maybe even a job offer. But many internships are only available to current college students.

A typical college campus should also have guidance counselors, career centers, job fairs, clubs, and volunteer opportunities to help you gain the experience you'll need to make yourself stand out in the job market. Many colleges work hard to make sure that a high percentage of graduates move directly into the workforce in their fields of study. That's a win for you and for them.

When Is Paying for College Not Worth It?

I say this all the time: College is not for everyone. And just like there are plenty of pros to getting a college degree, there are some cons too. Let's talk about them.

You might not need a degree to do the job you want.

A college degree can open doors, but what keeps those doors open? Hard work! Some of the world's wealthiest businesspeople didn't even finish college-think technology trailblazers Bill Gates, Larry Ellison and Michael Dell. They're proof the traditional college route isn't the only path to success.

The Federal Reserve Bank of New York reports that about 43% of college grads are working a job that doesn't need a degree.(5) Plus, the number of job postings requiring a college degree dropped from 34% in 2012 to 30% in 2018 (according to a labor-market research firm's analysis of websites like Indeed and Craigslist).(6)

Don't look past alternatives like trade schools, community colleges, apprenticeships and entrepreneurship to get you the job you want. It's hard to beat the price difference. For example, a typical two-year community college degree costs about half as much per year as an in-state four-year college-and about one-ninth as much per year as a private four-year university!⁽⁷⁾

Your degree might not land you a high-paying job.

Sure, they'll all help you bring home a paycheck-but not all degrees are created equal. A history degree might earn a starting salary of 36K while a mechanical engineering degree, for instance, might earn twice that. You have to consider whether what you'd be making is worth what you'll be paying for school. Seriously-graduating college with $100,000 in student loan debt to take a job making $36,000 just doesn't make sense. And it doesn't take a college degree to figure that out.

You could regret the experience.

According to a 2017 Gallup survey, 51% of Americans who pursued education beyond high school would consider changing their degree type, institution or major.⁽⁸⁾ If you're not 100% sure about what you want to do, you could end up making quick decisions about your college education that you'll regret later. And quick, careless decisions can be expensive!

You might not even graduate.

You may really plan on graduating, but the pressure of balancing school, work, family and friends is tough for a lot of college students to handle. The National Center for Education Statistics found that only 59% of students they surveyed at public colleges completed their degree within six years.⁽⁹⁾ And if you don't finish your degree, that's thousands of dollars down the drain!

Alternatives to a College Degree

A lot of people think that if you don't get a degree from a four-year college, you can't win. I don't buy that. There are alternatives to college that don't include working for minimum wage. Becoming a real estate agent, medical assistant or web developer won't require a college degree-but they will require some training. You can also enlist in the military. And if you do decide to go to college later, you may be able to have your college expenses covered through the GI Bill. Is college worth it in that case? It's something to think about.

Are you ready to be the CEO of your own company? Start your own business. You don't need a degree in business to be in business. You can embrace the entrepreneurial spirit and start your own business in just a few minutes, thanks to websites like eBay, Etsy and Amazon.

And don't forget: You could also take free online classes, learn a skill at a trade school, or get your associate degree at a community college.

Is College Really Worth It?

Some people go to college because it's the norm in today's society, because their parents want them to, or because all their friends and family members did. But many people go to college with the hope that it will help them have a better future. This can be true as long as you combine that hope with hard work and pay for it without loans.

So, yes, college can be worth it if you can cash flow it! There are a lot of careers where a college education is required or will improve your chances for promotion. When you pursue a college degree, do just that. Get the degree but don't worry about the pedigree. You don't have to pay three times (or nine times) as much to go to a big-name school to get the same type of degree.

On the flip side, if you can't afford to pay cash for college or if you don't need a four-year degree for your desired job, paying all that money for a college degree is definitely not worth it. Just having a college degree for the sake of having one won't solve your problems. It will only leave you with a pile of debt.

If you do decide that college is for you, the most important thing is to be sure you can pay for it. Consider using my Debt-Free Degree Scholarship Search to apply for scholarships, finding an easy part-time job, or even taking a few semesters off to save up before you go. Believe it or not-you can pay for college without taking out student loans!

Remember: The caliber of your future will be determined by the choices you make today, especially the financial choices you make about college.

Want to learn more about how to go to school without loans? Debt-Free Degree is the book all college-bound students-and their parents-need to prepare for this next step. Grab a copy today or start reading for free to get plenty of tips on going to college debt-free!

Still have questions? The Graduate Survival Guide has plenty of tips on how to go to college debt-free-and stay debt-free for life!

About Anthony ONeal
Since 2003, Anthony has helped hundreds of thousands of students make smart decisions with their money, relationships and education. He's a national bestselling author and travels the country spreading his encouraging message to help teens and young adults start their lives off right. His latest book, Debt-Free Degree, helps parents get their kids through college without student loans. Connect with Anthony on YouTube, Instagram, Facebook and Twitter.

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Relationships & Money As a young adult, college is a super exciting time in your life. But making payments on your student loans long after you graduate? Not so exciting.This leads a lot of people to ask: Is college worth it?

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-greater personal happiness and satisfaction
-heightened self-efficacy

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College was once seen as the "proven path to success" for young people. But with the Covid-19 pandemic moving colleges online, the student debt crisis growing and the increasingly tumultuous job market, the quintessential college experience seems even more out of reach.

Many students are questioning whether a college education is even worth it.

But beyond just success, can going to college make you happier? The answer is complicated, but here's what the research and experts say.

"Education is probably more strongly correlated with future happiness throughout adulthood than any other variable," according to Jeffrey Arnett, developmental psychologist and professor of psychology at Clark University. Happiness, in this case, is defined as satisfaction with the way one's life is going.

Research suggests that the more education you have, the happier you tend to be.

In a survey that utilized data from the U.S. General Social Surveys, 94% of people with a bachelor's degree or more reported feeling happy or very happy with their lives overall, while 89% of high school grads said the same. A 2016 Pew survey found that adults with less than a high school education are more than twice as likely as those with a bachelor's degree or more education to say they are not happy with their lives.

Having a college degree is correlated with other sources of happiness: People who go to college also tend to have better health outcomes, more stable marriages, and longer lives than those who didn't graduate from high school.

People tend to be happier the more money they make as far as it allows them to meet basic needs, such as access to healthcare and a safe place to live. (The relationship between happiness and income has a leveling-off point at about $75,000.)

Data from the Federal Reserve Bank of New York suggests that the average person with a college degree makes $30,000 more a year, or nearly 75% more, than those with a high school diploma. The average college grad makes an estimated $78,000 a year, whereas someone with only a high school education makes $45,000.

Most jobs in today's "knowledge economy" require a college degree to get hired. Advancements in automation leave few opportunities for people to earn a living wage without one.

"A higher education and a college degree is still the proven path out of poverty for many students," Alex Bernadotte, CEO and founder of Beyond 12, an organization that guides underserved students toward completing their college degrees, tells CNBC Make It. "And it is certainly still the currency of validation in our country."

"With more education, people are more likely to be able to do the things that give their lives purpose," Kendall Cotton Bronk, developmental psychologist and associate professor of psychology at Claremont Graduate University, tells CNBC Make It.

People with a sense of "purpose" tend to have better mental and physical health, and longer lives.

"Studies repeatedly find that individuals with a sense of purpose in life tend to report that they're happier, or they're more hopeful and more satisfied, than individuals without," Bronk says.

One big challenge that emerging adults face in college is figuring out how they want to use their different skills and talents, Bronk says. Most college students switch majors once, if not two or three times until they find something they like.

The best major is the one that helps you find purpose in your life. So there's no one major that makes people the happiest, because people derive purpose from different things, Bronk says.

For instance, in PayScale's 2019 College Salary Survey, 3.5 million respondents, from more than 4,000 colleges and universities across the U.S. were asked if they believed their work makes the world a better place. With those who said "yes, and provided their major, PayScale ranked the majors accordingly.

The majors that provided people with the most meaningful careers were: alcohol and drug studies, which prepares people to work in the addiction field; radiation therapy, specialists on an oncology team that deliver radiation to cancer patients; cytotechnology, lab professionals who work with pathologists to diagnose cancer; early childhood special education and music therapy.

While these majors are vastly different, the report suggests that majors within the health field as well as community and social service tend to provide people with meaning.

Graduation rates show that only about 50% of students who start at a four-year school have a degree six years later. The numbers are even more stark for students from under-resourced communities or students from ethnic groups that have traditionally not attended college.

More years spent in school leads to more tuition, and for many, more debt. Studies suggest that there is a link between mental health and student loan debt: A recent survey from financial coaching company Student Loan Planner found that nine in 10 borrowers experienced significant anxiety due to their loan burden.

The high cost of college, and the emotional burden of student loans, "leads to very legitimate questions about the return on investment of a college degree," Bernadotte says.

And as colleges contemplate how to make changes in light of the pandemic, Bernadotte says lowering the cost would be a great place to start.

Bronk's advice for current college students is to "step back and really think about what really does matter? What is it, in the big picture and in the grand scheme of things, that I care about?" That could mean taking a gap year or pursuing an internship or other professional pursuit that serves you in a meaningful way.

Because ultimately, education increases your happiness, not because of what you learn in the classroom, but because of all the privileges that come along with it, such as job opportunities, increased income and enhanced relationships, Alexander Gamerdinger, research analyst at the Happiness Research Institute in Denmark tells CNBC Make It.

"So, is college for everyone, and do you need to go to college in order to be happy? Absolutely not," Bernadotte says.
Check out: The best credit cards of 2020 could earn you over $1,000 in 5 years

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From the best major to finding purpose in life - how going to college affects your happiness

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College was once seen as the "proven path to success" for young people. But with the Covid-19 pandemic moving colleges online, the student debt crisis growing and the increasingly tumultuous job market, the quintessential college experience seems even more out of reach. Many students are questioning whether a college education is even worth it.

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-better leadership skills
-stronger interpersonal relations

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-develop better dietary habits
-live longer and healthier lives

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Why Education Matters to Health: Exploring the Causes