A College Degree is Still a Smart Investment
Friday, June 27, 2014
Michael Gravison, Graduate Student in Communication Studies at the University of Rhode Island Feinstein Providence Campus
URI's Feinstein Campus in downtown Providence.
This column is part of an ongoing sponsored content series with The University of Rhode Island Feinstein Providence Campus.
Despite the economy and the rising cost of education dominating the news, a new study confirms the financial advantages of a college education. In an article published this week by the Federal Reserve Bank of New York entitled, Do the Benefits of College Still Outweigh the Costs?, data examined over the last 40 years determined that a college education is still one of the best investments a person can make for the future. From 1970 to the present, bachelor's degree recipients earned approximately 56% higher wages than high school graduates (associate's degree holders earned 21% higher). According to the study, the overall return on investment of a college degree remained steady at 15% throughout the past decade alone.
In addition to the costs of college compared to the direct and lifetime post-graduate earnings, the study focused on the returning college student. The researchers found that the amount of students returning to college rose sharply from 7% in the 1970s to 16% in 2001. The number of students returning to college remained steady at 15% for the last decade, and this suggested that the benefits of a college education outweigh the costs even for these returning students who may not have set foot inside a classroom for years. For this reason, now more than ever may be the time to return to school.
The purpose of returning to school can be to finish a degree already started, to further a present career through advancement or promotion, or to change a career path altogether. In addition to the financial benefits, one may consider the following advantages as well. A college degree:
- Sharpens skills professionally and personally.
- Improves personal and professional networks.
- Makes one a role model for friends, family, and the community.
- Improves quality of life through confidence and pride.
If you are looking for a total change, or personal and professional growth, a college degree has value. When it comes to a degree it is important to consider the school that will be worth the time and investment, and in New England there are many options. The best investments are based on results, and The University of Rhode Island was ranked #1 by SmartMoney magazine for the best tuition and graduate earning ratio in the area. If you are looking for flexibility and affordability in an exciting urban environment, then the URI Feinstein Providence Campus can set you on the path towards a better future. URI Providence offers evening classes and financial aid for most students. With an array of undergraduate, graduate, professional and certificate programs available, the flexibility, affordability, location, and supportive environment of URI Providence are ideal for the working adult or returning student.
The University of Rhode Island Feinstein Providence Campus is located at 80 Washington St. Providence, RI 02903. Call today to meet with an advisor at (401)-277-5162. Or CLICK HERE for more information.