By: Krystle Crossman
College is expensive. The tuition rates climb higher and higher every year and the financial aid becomes harder to get. Unfortunately the sobering reality is that those who can’t afford to go to college will be stuck making much less over the course of their lifetime than if they had gone to college. High school diplomas are growing to be more and more insignificant every day.
The Economic Policy Institute complied data that spans from 1973 to 2013. They show that there is a marked increase in some numbers and a decrease for high school grads. The data reports that college grads on average make 1.8 times more than high school graduates do. The average hourly wage of a college grad is $29.46 (which is up from $24.19 in 1979) and the average hourly wage of a high school grad is $16.20 (which is down from $17.26 in 1979).
High school grads are having a harder time than ever trying to find entry level positions right out of high school. College grads have the advantage of a degree and internships when they are finished with their programs. Most high school students do not have any experience. Big corporations are sending their entry level work overseas and using automated resources which doesn’t leave many jobs open for those who do not have a degree.
If you look at your lifetime earnings between being a college grad and a high school grad, you will come out $500,000 on top if you graduate from college. These of course are averages and not all college grads will earn these wages but it is a good estimate. Some suggest that the government should step in to help kids who cannot afford to go to school so that they can also have a chance of earning more money.