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Life Lessons: The cost of skipping college

By Nancy Werteen, Anchor / Reporter, NWerteen@wfmz.com
Published On: Jul 16 2014 04:00:00 AM CDT

With the high price tag of college, is a degree even worth it?

The average annual cost of college is $20,000, according to the Federal Reserve.

For most students, that means graduating deep in debt.

With that kind of price tag, is a degree even worth it?

According to a new report from the Federal Reserve, the answer is yes.

The average college grad paying an annual tuition of $20,000 can recoup the costs of college by age 40.

After that, the difference between earnings continues such that the average college graduate earns over $800,000 more than the average high school graduate by retirement age.

The report went on to say that there is no definite evidence that high-cost colleges produce far superior results for all students.