Why is it worth investing significantly in education

According to new data, based on an analysis of Labor Department statistics by the Economic Policy Institute, Americans with four-year college degrees are not only equipped for a fulfilling adult and professional life but made 98 percent more an hour on average than those without a degree. And, the wage gap is only increasing, up from 89 percent five years ago, 85 percent a decade earlier, and 64 percent in the early s. College graduates are also more likely to be employed full-time than their less-educated counterparts, and are less likely to be unemployed, 4 percent versus 12 percent, according to a survey by the Pew Research Center.

Liberal arts graduates are not excluded from this reality. The vast majority with degrees in the humanities and social sciences are employed, and at salaries significantly higher than those having earned only a high school diploma. When it comes to financing even an affordable degree, Finaid. Video series featuring innovators. ET Financial Inclusion Summit. Malaria Mukt Bharat. Wealth Wise Series How they can help in wealth creation.

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Family Finances Saving For College. Key Takeaways Quantifying the value of a college education is difficult, but the return on investment can be calculated using key data.

Factors such as annual percent return, year net ROI, and specific majors can help determine which colleges rank higher. Other investments may not offer a better ROI, but it's important to look at them individually.

There is overwhelming evidence that education is the best investment a country can make as it seeks to increase economic growth, advance maternal and child health, empower women, promote good governance and break the vicious cycle of poverty. In the past century, rich industrialised countries could never have made their great leap in wealth without investing heavily in education.

South Korea had a national income similar to Nigeria in the early s. Thanks to its continuous investments in a skilled and educated workforce, South Korea flourished economically and is now a member of the G The average Korean over 25 has close to 14 years of formal schooling; that compares to 12 years in The Netherlands and 13 in the United Kingdom. Not only because of the moral imperative, but because — within development cooperation- it makes good economic sense.

Increasing the financial aid for education in low-income countries is an investment that will pay off — for developing and developed countries alike.

However, I am worried that donor investments in basic education are falling: we see evidence of donors pulling out of bilateral assistance for education in many countries Cambodia, Burkina Faso and Zambia are examples of countries of particular concern. This makes no sense. Why pull back on supporting education when there are still 67 million primary children out of school?

Why cut education spending when hundreds of millions of children drop out of school functionally illiterate?