An ISU graduate can expect to earn at least $900,000 more than a high school graduate over their lifetime. A lot more for many majors. New data from the U.S. Department of Education’s College Scorecard reinforces the economic impact of a college degree. It’s a very good investment.
Click here to see the interactive visualization by discipline and program.
The interactive visualization is for ISU folks only. Others can view a PDF sample.
The impact of college is lifelong. The first few years are messy. I call it “living in my high school bedroom until I figure things out” phenomenon. Reporting earnings for only the first few years paints an incomplete picture of the lifetime earnings of college graduates. And misses the high returns on public investments in higher education. I appreciate the US Department of Education including five year data in the scorecard.
The scorecard is oriented towards students. Still, there’s lots of good stuff there that can be used in planning and analysis. Using Power BI, evaluators can easily import the web data, clean it, and create the visualization.
Eesy-peasy.
Disclaimer about reporting earnings
Higher education is associated with all kinds of non-economic benefits to individuals and society. These include health and wellness, the environment, human rights, and democratic engagement, to name a few. The economist Walter McMahon has covered these benefits extensively.
Still, for many students, a college degree represents an escape from poverty and ending a cycle of intergenerational inequality. It represents a job with health care, retirement benefits and meaning. It doesn’t mean everything, but it counts for something.
A four-year degree is not the only path. Two-year colleges play a significant role in benefiting society economically and non-economically. As do vocational and technical training programs, union training, workplace training, and other pathways.
