Ways in Which Higher Education Benefits the Economy

Questioning the true worth of higher education has become somewhat of a trend. Many think that they can go the Bill Gates way and make millions without a college degree. While that may have worked for Bill Gates and maybe a few other lucky entrepreneurs, studies prove time and again that these outcomes are the exception.

Recent research also show that the average college graduates makes about one million dollars more during the span of his or her career when compared to a person with only a high school education. Consulting with the best overseas education consultantsin India is a great way to kick-start your life towards this end.

Intend to Settle in the US?

As per the U. S. Census Bureau’s figures, the standard earnings of a full-time working person with only a high school diploma was about $34,200. (Some college = $40,600. Associate’s Degree = $44,100.) Considering this, if you obtain a four-year bachelor’s degree, your average salary increases to $57,000. That’s a $22,800 yearly improvement over the high school diploma.

Another good news that comes your way is that a percentage of those additional dollars is returned several times over to the same federal, state, as well as local treasuries, which financed those students’ education. When our graduates pay taxes on that income and that too at an increased bracket rate — and on that nicer house and nicer car they purchase in the local economy — they are in a way putting money back into the system.

Hence, money invested on higher education is an investment, which not only feeds our economy, but at the same time it rewards taxpayers for an intelligent investment. And the rewards keep happening for as long as the college educated worker stays employed.

What this Means for International Students

And, you need to also consider also the contribution of an international student. Each year, students across the globe aim for higher education. Overseas students in a way add money to the economy each year in tuition alone. However, they also eat in local restaurants, shop in local stores, and purchase local goods and services. Economically, the effect is precisely the same as the export from the United States of a luxurious touchable product. The United States gets tens of thousands of dollars from consumers from foreign countries. If you increase the effect of this across all the colleges as well as universities in the country, you may conclude that higher education is doing more for the U.S. trade shortfall that almost any other industry.

With facts such as these, there it goes without saying that higher education carries important value, not only for the one getting the degree, but also for all of us who benefit from government services at the local, state as well as national levels. Get in touch with the best overseas consultants in India and they will guide you with the best way out.