By Jillian Ziegler, Editor, my529, Utah’s educational savings plan

Over recent decades, there has been no shortage of ink spilled in the debate over the value of higher education. You’ve likely heard the arguments on either side; it’s possible you have a strong opinion yourself. But for today, let’s get back to the basics and explore the underpinnings of why we think college is worth it. Specifically, what does a college education even bring to the table?

As it turns out, a lot.

To start, individuals with degrees are more likely to enjoy greater income and greater economic stability. Across the country, college degrees have been correlated with higher earnings over a career, according to a brief from the University of Utah.

Pew Research reported last year that although workers without a college degree have in fact seen an increase in earnings over recent years, so have those with degrees — meaning the relative benefits are just about as pronounced as in the past.

The financial upside of a degree may have something to do with how rich the college experience can be for making social and professional connections.

College is a unique time in a student’s life, offering rare and precious opportunities to develop relationships, form unique memories, and lay the groundwork for their future career. It’s a context with unparalleled opportunities for internships and research opportunities, and the professional connections found at school can be essential to laying the foundation for a long and happy vocation.

A degree is also connected to having a more stable career in general. Using U.S. Census data, the Public Policy Institute of California found that graduates are more likely to be working or looking for work and are more likely to be employed full-time.

Additionally, these full-time jobs can come with oft-vital benefits like health insurance, vacation, retirement, and more. Through it all, those with college degrees are also more likely to weather recessions a little better, with certain industries usually being hit harder than others.

However, the benefits of a degree don’t stop with your career. While the more straightforward point of a degree is to find placement on a rewarding and well-paid occupational path, it can also go far in holistically improving you in any number of ways.

Reports have shown that degree holders have higher rates of both physical and mental health. According to the U.S. Bureau of Labor Statistics, they’re also more likely to marry and less likely to divorce. Additionally, citizens with more post-high school education are more likely to become involved in their community, both as volunteers and voters.

While these quality-of-life benefits may be more correlation than causation, there’s little doubt that these results are closely connected to things like increased benefits and career stability mentioned earlier.

Of course, this is just a bird’s-eye view of the many factors to consider when weighing a college degree for yourself or a loved one. Luckily, saving for higher education is more of a marathon than a sprint, meaning you’ve got plenty of time to dive into more research on your own.

In the meantime, though, it does seem that the body of evidence supporting the value of a degree is immense. It’s a big decision, and one that can end up affecting nearly every sphere of a person’s life for the better.  

Even with all this value, however, the concept of paying for a college degree at modern-day prices can still seem daunting, which is why it’s more useful than ever to get a head start on saving for school as early as possible. Saving can help you or a loved one’s choice to seek a degree more informed by the benefits — and less so the barriers.

About the author:

Jillian Ziegler is an editor at my529, Utah’s educational savings plan. She has a cat named Pippin.