To estimate earnings, graduation rates,
typical student debt loads and other factors
at individual schools, use the Education
Department’s College Scorecard tool. You can
search and compare earnings as well as debt by
fields of study.
WHERE YOU LIVE AFTER GRADUATION
ALSO MATTERS
Where you live after attaining your degree also
affects its value, according to the results of a May
2020 study for the Thomas B. Fordham Institute ,
a conservative nonprofit think tank.
“In general, college degrees are a good
investment, but the return in terms of
cosmopolitan areas is phenomenal,” says John
Winters, associate professor of economics
at Iowa State University, who conducted
the study.
In cities, bachelor’s degree holders earn
$95,229 on average, an 86.2% premium
compared to a worker with a high school
diploma and a 55.7% premium compared to an
associate degree holder.
Winters says that’s primarily because cities have
a higher concentration of jobs in fields that
often demand workers have four-year degrees,
such as tech, finance and marketing. Workers in
these fields earn higher wages, which leads to a
greater return on investment for degrees.
However, Winters’ findings also mean it’s less
critical to have a four-year degree if you want to
live in a smaller metro or rural area. Bachelor’s
degree holders in nonurban areas have
mean earnings of $67,893, which puts their
wages at a 46.4% premium compared to high