You’ve always heard it. People who go to college earn more money. Is that accurate? Absolutely! The basic premise, those with degrees will make more money over their lifetime than those without a higher education or advance degree.

Compare a high school graduate to a college graduate. Over the course of a life time a college graduate will earn $2.1 million dollars while a high school graduate can expect to earn on average roughly $1.2 million. What about higher degrees? Someone with a masters degree earns about $2.5 million. Those who have earned their PhD can expect an average of $3.4 million. These figures are based on a Census Bureau report titled THE BIG PAYOFF.

What about annual salaries? A high school drop out will make about $18,900 a year but a high school graduate will make about $25,900. However a college graduate can expect to make, again, on average, about $45,000 while doctors, dentists, lawyers and other with professional degrees can expect about $99,300. So the gap between a high school drop out and a professional degree earner is approximately $80,000 every single year! What a difference!

It’s not easy to earn your degree, but it has become a lot easier than it used to be. We aren’t talking diploma mills. It will require studying, doing homework and proving that you have mastered the material by passing tests. Think you don’t have time for college? There are new ways to go to school. Online college degree programs are designed specifically for working adults. You can take classes and earn your diploma or degree from anywhere you have access to a computer and the internet. You can study during the hours that fit your schedule and earn your degree at your own pace.

Could this plan work for you? First and foremost what are your goals and plans? You need to answer that first. Once you know what your specific goals are, you need to find an online college with a program that can help you meet those goals. Make sure you talk to friends and family and see if anyone you know has gone to school online. A recommendation from a successful graduate is a good place to start. You will also want to attend an accredited institution and know that your units earned are transferable.

You’ve picked a road to follow and have a school that is going to help you get there. What about tuition and books? If you have done your homework in picking a school then you will already have some idea as to the answer. There should be a Financial Aid department at your chosen school. They can help you put together a plan to finance your degree. Don’t allow the word AID to get in your way. This isn’t about handouts. There are financial aid advisors who are well versed in how to pay for higher education through loans, scholarships, grants and cash payments. Ask your financial aid advisor a lot of questions and make sure that you feel comfortable with their expertise. He or she can be every bit as vital to your success as your academic advisor.

It is possible to increase your earnings by getting a high school diploma, bachelors degree, masters degree, or PhD, but you have to do your homework first. You must know what your goals are, what degree you want, how much it’s going to cost and how you’re going to pay for it. Once you have that done, you’ll be well on your way to earning your degree and increasing your salary. Study your options and study hard!

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