180. MVCAP fyi: Top 10 benefits

The following 2010 online article, "Top 10 benefits of a college degree," by correspondent Elizabeth Fuller in The Christian Science Monitor, was both interesting and important--which is why it is featured and re-posted verbatim here.

1. Increased earning potential

Everyone knows the price of a college degree, but fewer know the price of not getting one: $22K a year. In 2008, median earnings of college graduates were $55,700, which was $21,900 more than the median earnings of high school graduates who hadn’t attended college.

2. More benefits, higher pensions

Only half of high school graduates have employer-provided health insurance or pension plans, but almost 70 percent of college graduates do. Also, while 93 percent of college grads participate in employer-matching pension plans if they're available, only 3 in 4 of those who didn’t complete high school do, meaning that 1 in 4 pass up essentially free money from their employer.

3. Better recession protection

College graduates’ employment rose 2 percent between the first quarter of 2007 and the first quarter of 2010, despite the great recession. Every group with lower education levels saw employment numbers decline. Those hardest hit were those who hadn’t finished high school. One in 5 for them has lost a job, compared with 1 in 100 for high school graduates and those with some college education.

4. Higher job satisfaction

In 2008, about 60 percent of people who had attended college – whether or not they’d completed a degree – reported that they were very satisfied with their jobs. Only 50 percent of high school graduates and 40 percent of high school dropouts could say the same. People with job satisfaction were three times as likely to say that they were very happy.

5. More exercise, less fat

Those with more education are more likely to exercise than those with less education. College-educated adults are also less likely than others to be obese or have obese children. These results hold for all age groups.

6. Fewer smokers

Between 1998 and 2008, the smoking rate declined from 14 percent to 9 percent among college grads, while the rate for high school grads barely dropped, from 29 percent to 27 percent.
Of people with advanced degrees, 70 percent never smoked, only 3 percent choose to keep smoking, and the rest have quit or are trying to. Of people who didn’t finish high school, half have never smoked, a third have quit or are trying to, and 15 percent choose to maintain the habit.

7. More volunteering and voting

The share of people who donate their time to organizations and the number of hours that they spend in volunteer activities are higher among individuals with higher levels of education. Most volunteer for religious organizations (34 percent) or youth-related services (26 percent).
At every age group, the more educated someone is, the more likely she is to vote. It’s most dramatic among 18- to 24-year-olds, where college graduates are 2-1/2 times as likely to vote as those who haven’t finished high school.

8. More tax revenue

Higher salaries for college means more money for the government, which matters to policymakers. “The typical college graduate pays, on average, 80 percent more in taxes each year than the typical high school graduate,” according to the College Board report. For those with advanced degrees, the tax benefits to the government are even better. Doctors and lawyers might grouse that they pay 3-1/2 times as much in taxes as high school graduates do. Then again, they earn three times as much. And on the flip side:

9. Fewer social costs

High school graduates are three times more likely to live in poverty than college graduates, and eight times more likely to depend on public assistance programs
For every female high school student who goes on to attend college, society saves $48,600 over her lifetime. For every African-American male who goes on to finish college instead of dropping out of high school, society saves $294,000.

10. Better-prepared kids

Parents with advanced degrees are three times more likely to read to their kids every day than parents who haven’t finished high school, and twice as likely to participate in other educational activities like visiting museums and libraries. The payoff? Children of highly educated parents are three times more likely to start school already knowing their alphabet and how to count to 20.