The More You Learn, the More You Earn

Having more education lowers your risk of unemployment and leads to a bigger paycheck. What do you think your average salary will be when you achieve your educational goals? Be aware that you may need to use some of that salary to pay back your student loans.

Professional degree

Years of schooling: Varies by program; generally 2-8 years beyond a bachelor's degree

Annual salary: $97,968

Weekly income: $1,884

Total student loan debt: An average of $98,711 (for graduate and undergraduate school combined)

If you drop out before completing your degree, you must still pay back your loan money.

Doctorate degree

Years of schooling: Varies by program; generally 3-5 years beyond a master's degree or about 7 years beyond a bachelor's degree

Annual salary: $94,900

Weekly income: $1,825

Total student loan debt: An average of $98,800 (for graduate and undergraduate school combined)

If you drop out before completing your degree, you must still pay back your loan money.

Master's degree

Years of schooling: Generally 2-3 years beyond a bachelor's degree

Annual salary: $74,568

Weekly income: $1,434

Total student loan debt: An average of $66,000 (for graduate and undergraduate school combined)

If you drop out before completing your degree, you must still pay back your loan money.

Bachelor's degree

Years of schooling: Generally 4 years beyond a high school diploma

Annual salary: $62,296

Weekly income: $1,198

Total student loan debt: An average of $23,118

If you drop out before completing your degree, you must still pay back your loan money.

Associate's degree

Years of schooling: Generally 2-3 years beyond a high school diploma

Annual salary: $44,824

Weekly income: $862

Total student loan debt: An average of $13,289

If you drop out before completing your degree, you must still pay back your loan money.

Some college, no degree

Years of schooling: Any schooling beyond a high school diploma

Annual salary: $41,704

Weekly income: $802

Total student loan debt: An average of $11,302 for a certificate program

If you drop out before completing your certificate, you must still pay back your loan money.

Sources: Bureau of Labor Statistics, Current Population Survey, last modified March 1, 2019. National Center for Education Statistics.

Having more education also lowers your risk of unemployment. Visit the Bureau of Labor Statistics for the details.

Dropping out of school is not the only option!