How much does university cost and does it boost earnings?

Attending university can be a significant financial investment. The cost of tuition, fees, books, and living expenses can add up quickly. According to the College Board, the average cost of tuition and fees for the 2019-2020 school year was $10,440 for in-state public colleges and $36,880 for private colleges.

However, a university education can also lead to higher earnings potential. According to the U.S. Bureau of Labor Statistics, individuals with a bachelor’s degree earn significantly more on average than those with only a high school diploma. In 2019, the median weekly earnings for someone with a bachelor’s degree were $1,248, compared to $746 for someone with only a high school diploma.

While the cost of attending university may be high, the potential for increased earnings can make it a worthwhile investment in the long run. Additionally, many universities offer financial aid in the form of scholarships, grants, and work-study programs to help offset the cost of attendance.

Ultimately, the decision to attend university and the financial implications involved should be carefully considered based on individual circumstances and goals.