There are dozens of reasons to get a college degree, even though the path is not necessarily the best route to success for everyone. On average, graduates tend to have higher lifetime earnings than those who don’t earn diplomas from four-year programs. But there’s more to it than that.
In addition to having a wider choice of careers, diploma holders enjoy a deep sense of personal accomplishment for having survived a challenging academic ordeal. Holding a college degree can be the first step to gaining acceptance to graduate school. Entering the job market well prepared is one more benefit of attending a four-year collegiate program.
Higher Lifetime Earning Potential
The number one reason people tend to cite for going to college is the chance to earn more money over the course of their careers. With few exceptions, nearly everyone in a wide range of fields, from accountancy to medicine, earns a higher income if they hold a four-year degree in a subject related to their job responsibilities.
While the price of higher education continues to rise, grads can significantly reduce their monthly payments on student loans by refinancing. However, there is plenty of variation in the amounts a person can earn with vs. without a degree. In business, even among entrepreneurs and sole practitioners, a four-year diploma can deliver substantial monetary benefits for people who are willing to finance and earn a degree.
Combining a degree with a relevant certification can make a person even more competitive in the job market and lead to higher salaries over time. For example, a registered nurse with a Bachelor of Science in Nursing and a certification in critical care nursing may earn a higher salary than a nurse with only a bachelor’s degree. A Study guide by Career Employer test prep resources offers study materials to prepare for certification exams, making it easier for individuals to obtain these credentials and reap the benefits of higher earnings.
You Can Refinance Education Debt
The beauty of using student loans to finance a college education is that graduates have plenty of payment options. One of the best strategies for new grads is to refinance their college debt into a brand-new agreement. The purpose behind the maneuver is to gain access to more favorable rates, better terms, more time to repay the full obligation and to get lower monthly payments. The last point is of special concern to young people starting a fresh career.
Often, a refi can mean significantly lower loan payments for hard-working adults who could use breathing room in the budget. When you refinance school debt after graduation, the primary component of the process is trading out one or more existing loans for a new one. However, it’s important to review an explanatory guide that provides pertinent details about how to initiate a refinance agreement and structure the new loan.
More Career Choices
It’s worth noting that many corporations and small businesses only hire degree holders. For that reason alone, those who are degreed have a much wider choice of career paths. Those who major in business, liberal arts, the sciences, engineering, and pre-med can pretty much take their pick among dozens of varied fields.
Likewise, for those who intend to pursue grad schools to earn MBAs, law degrees, MDs, or other advanced credentials, a collegiate diploma is a prerequisite. Much of higher education focuses on preparing young adults, and some middle-aged ones, for the job market. Education is not all about books and classrooms. Most courses of study include real-world internships and on the job training.
Personal Sense of Accomplishment
There’s another aspect to earning a diploma that has nothing to do with income, careers, or any other of the common reasons people give for attending school. That’s because large numbers of graduates value the sense of personal accomplishment they get from completing a four-year academic program after high school.
For some, the most significant part of the accomplishment is that they’re the first person in their family to graduate from college or university. For others, it’s just an inner sense of pride that accompanies a job well done. The personal side of finishing college is one of the reasons that so many grads purchase high-quality frames and display their diplomas on home or office walls for all to see.