Median wages for four-year college graduates have increased more rapidly than those of high school graduates, according to a recent report released by the College Board of Advocacy and Policy Center.

Unemployment rate lower for college grads

Entitled “Education Pays,” the 2010 report found that the difference between unemployment rates for high school graduates and bachelor’s degrees recipients increased from a 2.3 percentage point difference in 2006 to a 5.1 percentage point difference in 2009.

“With a college degree you’re not necessarily going to get paid more, but you’re exposed to a lot more possibilities,” said Jeanie Jang, director of Career Development. “One can still be successful without a college education, but it all depends on the person’s personal drive, and what the word success means to them.”

Wages higher for college grads

According to the College Board report, however, wages are higher for college graduates. Median hourly wages for college graduates were about 50 percent more than median hourly wages for high school graduates in 1982. In 2008, wages were twice as high for graduates of college as they were for graduates of high school.

The average college graduate earns about 66 percent more than the typical high school graduate, College Board reported. As for young adults between the ages of 20 and 24, the unemployment rate in 2009 for high school graduates was 2.6 times higher than for college graduates. In 2008, the median earnings for women with a bachelor’s degree were 79 percent higher than the median earnings for women with a high school diploma, and men’s premium earnings came in at 74 percent more.

Biola grads successful in job market

Biola graduates have been successful in the job market, as well. According to Biola Career Development, 33 percent of December 2008 and May 2009 Biola seniors graduated with jobs. Of those, 39 percent had found a job with a salary of $15K-$20K while 23 percent graduated with a job that earned more than $41K.

The College Board report concluded that the financial gain in jobs often outweighs the financial risks of attending college. The Board also reported that, in most cases, higher education improves the quality of life of the person and benefits society.

Benefits of college are worth the cost

“College teaches you leadership, helps you be more prepared, builds your stamina and confidence, because you’re exposed to a lot more and [it] becomes a support system for you,” Jang said.

The College Board report found that a college education also improves a person’s social behaviors, such as tolerance for the opinions of others.

“In college you’re exposed to a lot of ideas,” junior Christine Wijaya said. “It’s a market of ideas. It trains us to think more and explore the outside of this world.”

College graduates are more likely to have employer-paid health insurance, vote, donate blood, be more involved in efforts to help their community, be satisfied with their jobs and are more likely to live a healthy lifestyle than those who only graduate from high school, the College Board reported. Also, college graduates are less likely to rely on food stamps, be in prison or smoke, and they are more likely to read a book to their children and be satisfied with life compared to those who stopped their education after high school graduation.

“In college you’re exposed to a lot more; your world gets bigger and bigger,” Jang said. “You learn to become more motivated, active, learn the meaning of leadership, and teach others to be leaders as well. As for the ones without college education, their world gets smaller comparing it with the college graduate. Without that base and support, their world is whatever their world is, but it’s all depending on the person’s motivation, to keep at it, and go for it.”

Students expressed a similar opinion on the value of education.

“College plays a big role because it helps you get a better career and helps your family,” junior Kendra Davila said. “It makes a bigger impact on the world. I know I can’t slack off. It takes hard work; but it pays off.”

Wijaya said she sees college as an attainable investment.

“Everyone should go to college,” Wijaya said. “I don’t think money should be an excuse in not going. There are so many ways to go to college, it can be by loans, scholarships, and grants; you just got to look.”

Junior Matt Welch agreed.

“I think college is very important,” Welch said. “It helps us understand the world around us. It’s definitely worth it.”