College isn’t cheap. On average, you’re looking at about $23,000 per year for school. That price tag is a major barrier for a lot of people—it just seems like it’s not worth it, right?
According to a study from the Federal Reserve Bank of New York, a college education is still worth the money. In their research, economists Jaison R. Abel and Richard Deitz determined that an individual who had a college degree could expect to make $1.2 million more from ages 22 to 64 than their peers who have just a high school diploma.
The report also notes an increase in career earnings for people who had associate degrees compared to those who stopped after high school.