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Four years of classes. Thousands of dollars to pay for those classes. Is a college education really worth all the time and expense?

If you look at the numbers, the answer is a resounding yes.

Here are some eye-popping statistics from the College Board (www.collegeboard.com), a not-for-profit membership association whose mission is to connect students to college success and opportunity.

  • The typical college graduate who enrolls at age 18 earns enough in the first 11 years to compensate for taking time out of the labor force and borrowing to pay the full tuition at a public four-year college.
  • Over a working lifetime, the typical full-time, year-round worker with a four-year college degree earns 60 percent more than a worker with only a high school diploma.

So what does that mean in dollars and cents?

Statistics from the Fall 2007 issue of Salary Survey, a quarterly report published by the National Association of Colleges and Employers (www.naceweb.org), show the starting salaries for college graduates in a variety of fields.

Bachelor’s Degree Starting Salary
Accounting $46,292
Business Administration/Management $43,256
Chemical Engineering $59,218
Civil Engineering $48,998
Computer Science $53,051
Economics (Business/Managerial) $47,782
Electrical Engineering $55,333
English $31,924
Finance $46,442
History $35,092
Information Sciences and Systems $49,966
Management Information Systems $47,407
Marketing $39,269
Mechanical Engineering $54,057
Political Science/Government $35,261
Sociology $32,161

And the benefits of a college education go beyond salaries.

The College Board reports that in addition to higher personal earnings, the availability of employer sponsored health benefits and pension plans increases with every level of education completed. For example, almost 70 percent of full-time employees with at least a bachelor’s degree have access to pension plans while only 53 percent of high school graduates have that access.

Even some college education is better than none, says the College Board.

Median lifetime earnings for the typical individual with some college but no degree are 19 percent higher than median lifetime earnings for high school graduates with no college experience.