COLUMBUS, Ga. (WRBL) – College students often go into debt to earn their degrees, and almost all forgo short-term earnings for the chance to earn more later in their careers.
But for university students in Georgia, does this investment pay off?
An study conducted by USG says degrees do pay dividends, big time.
The Georgia Board of Regents tracks a lot of economic impact data with an annual study conducted by Jeffrety M. Humphrey’s, director of the Selig Center for Economic Growth in the University of Georgia’s Terry College of Business.
This year the Selig Center conducted a companion study, led by Humphreys and Alexandra P. Hill. That study, titled “Lifetime Earnings fro University of System of Georgia Class of 2020,” estimates significant work-life earnings boosts with each degree earned.
The study estimates that 2020 graduates who work in Georgia will earn a combined $175 billion over their lifetimes. $59 billion, or 34 percent, of that will be because of their degrees.
Here’s what the median Georgia resident can expect to gain over a lifetime from their degree:
- Certificate: $238,455
- Associate: $377,000
- Bachelor’s: $1,152,500
- Master’s: $1,262,000
- Professional: $2,167,500
- Doctorate: $1,790,500