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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: $90,740
Weekly income: $1,745
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: $86,528
Weekly income: $1,664
Total student loan debt: An average of $58,967 (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: $71,760
Weekly income: $1,380
Total student loan debt: An average of $40,208 (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: $60,112
Weekly income: $1,156
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: $42,588
Weekly income: $819
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: $39,312
Weekly income: $756
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 April 2017. National Postsecondary Student Aid Study, 2007–2008.
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!