A new study confirms the significant long-term economic benefits of getting a college education.
ChangHwan Kim of the University of Kansas says the research team accounted for shortcomings in previous studies by including factors such as gender, race, ethnicity, place of birth, and high school performance that would influence a person’s lifetime earnings and the probability of finishing college.
The study estimates that the lifetime earnings gap between high school and college graduates, including those with a graduate degree, is around $1.13 million for men and $792,000 for women. These results are similar to past findings.
This corroborates a college education still yields a substantially more financial reward than it costs.
