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The choice in majors can significantly influence your annual income out of college, with an Engineering degree earning $40,000 more than education at $44,950.

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If a student attends college but later drops out, they will earn about $13,000 less annually, are twice as likely to be unemployed, and have a default rate of 13% higher than someone with a 4-year Bachelor's degree.

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"Median Lifetime Earnings by Highest Education"

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"Median Lifetime Earnings by Highest Education"

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A 4-year bachelor's degree earns the graduate almost $1 million more in earnings over the span of their working career than if they went immediately into the work force with a High School Diploma.

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median lifetime earnings by highest education.jpg

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Over the past 40 years, the cost of total tuition for a 4-year college has more than doubled, with private colleges at $40,917 a year and public colleges at $18,391 a year, almost a $20,000 difference.