The High Price Tag of Obtaining a Degree: Exploring an Instance Where It May Still Prove Valuable - The Financial Burden of Degree Acquisition

A study conducted by Georgetown University in 2011 revealed a significant financial advantage for individuals with bachelor's degrees throughout their lifetimes, earning almost twice as much as workers with only high school diplomas. However, the cost of education can be a substantial investment, encompassing tuition fees, textbooks, and living expenses.

Despite the upfront costs, degrees in high-demand sectors like technology and healthcare offer promising long-term returns on investment (ROI).

Technology (Engineering and Computer Science Degrees)

A 2025 analysis from Florida Polytechnic University highlighted the high ROI of degrees in engineering and computer science. Nationally, engineering graduates earn a median annual wage of $100,000 and accumulate about $500,000 in median total wages five years post-graduation, equating to an ROI of roughly 326.6%. Florida Poly students enjoy an even higher ROI due to lower tuition costs — over 500% ROI within five years for engineering graduates and nearly 490% for computer science graduates. The Massachusetts Institute of Technology (MIT) estimates an ROI of about $2,273,000 over a 40-year period, underscoring the strong financial benefits in tech-related fields.

Healthcare Degrees

Healthcare careers often require lengthy and expensive training but offer substantial returns over time. For instance, the Massachusetts College of Pharmacy and Health Sciences reports a 40-year ROI of $2,421,000, demonstrating strong returns for health sciences graduates. While high-paying roles like surgeons can earn over $208,000 annually, this typically comes after a decade or more of intense education and training, meaning the initial financial payoff is delayed compared to tech careers.

Community College Example (Associate Degrees)

Even at the community college level, there are signs of positive ROI in allied health and technical fields. American River College in California, for example, charges approximately $9,256 for a two-year associate degree. Graduates earn on average $7,686 more annually than high school graduates afterward, meaning they can recoup their educational investment in roughly 1.2 years after completing the program.

Online Degrees

Modern learners pursuing online degrees also report positive returns. A 2025 survey found that 90% of online graduates say their degree resulted in a positive ROI, with many securing jobs in their field and feeling well-prepared for work-related challenges. This includes degrees relevant to technology and healthcare sectors, which continue to offer career opportunities.

In summary, degrees in engineering, computer science, pharmacy, nursing, and allied health show strong evidence of high and sustained financial returns over the long term due to demand growth, high salaries, and relatively quick recoupment of education costs. While healthcare roles can require longer training periods, delaying initial earnings, the eventual high income and job stability balance the investment. Technology-related degrees often offer quicker entry into well-paying roles with steady career advancement and strong ROI within a few years of graduation.

Moreover, individuals with higher education tend to enjoy better job security and opportunities for advancement in their careers. A degree can provide opportunities for professional growth and personal fulfillment. However, the cost of education can act as a barrier for many people, preventing them from pursuing higher studies. It's essential to take into account potential earnings from one's chosen field when considering the cost of getting a degree in that field, as some professions may require further education beyond a bachelor's degree, which could increase costs significantly.

Many people believe that the cost of earning a degree is worth it due to potential benefits. The demand for highly skilled professionals is increasing, with jobs typically requiring a degree or higher education level. The National Center for Education Statistics (NCES) reported that the average cost of undergraduate tuition, fees, room, and board during the 2018-2019 academic year was $17,797 at public institutions and $46,014 at private non-profit institutions.

Carefully weighing the pros and cons of earning a degree, particularly in terms of finances, is important before making a decision. The long-term return on investment (ROI) of a degree is an important factor to consider when weighing the costs and benefits of higher education. The cost of education is an investment in one's future, as higher education can lead to increased earning potential and job security. Higher education is associated with less likelihood of unemployment. College often provides opportunities for personal growth by allowing students to explore new ideas and fields of interest. Obtaining a degree can lead to lucrative job offers in high-demand sectors like technology or healthcare.

Those with a bachelor's degree earn significantly more over their lifetime compared to high school graduates, with men earning approximately $900,000 more in median lifetime earnings and women earning $630,000 more.

The High Price Tag of Obtaining a Degree: Exploring an Instance Where It May Still Prove Valuable - The Financial Burden of Degree Acquisition