If you’re in the market for a new car, it might be tempting to sink a few thousand dollars into a model that depreciates quickly. However, for most people, a degree is a far more valuable asset that grows in value over time. A recent Georgetown University report found that workers with bachelor’s degrees earn an average of $1.2 million more in lifetime earnings than those who don’t have a college degree.
A degree also opens up career opportunities that would otherwise be closed off to those without a degree. This is particularly true for careers in the high-demand fields like education, healthcare, and technology, where jobs are increasingly in demand and highly specialized. A specialized degree is often the only way to break into these fields.
Beyond the financial rewards, many students find that their degrees are personally rewarding. Many graduate with a newfound sense of confidence and mastery, which can improve their mental health. Furthermore, completing a degree can help you network with professors and other students who can become important professional resources in the future.
Ultimately, deciding whether a degree is worth it depends on your personal goals and life circumstances. If you’re interested in exploring your options, consider using a net price calculator to compare tuition costs at different schools before making any decisions. You can even use it to calculate how much it will cost to attend your preferred school while working part-time during your studies to reduce the amount of debt you’ll have to take on.