Need help motivating your child to do well in school? Have them take a look at the 2009 American Community Survey. The survey shows estimated average earnings for people in the United States based on their education. These figures tell a fascinating story. Want to give your child a million dollars? Educate them.
According to the survey, the average income for a student who drops out of High School earns $18,432 per year. The average High School graduate earns $26,140 per year. The average person who has received some college or an associates degree earns $31,906 per year. The average College graduate earns $47,510 per year. And the average person with a Graduate or Professional Degree earns $62,313 per year.
What is the difference in lifetime earnings from a High School dropout to those who furthered their education?
Assuming a person works for 40 years, say from 25 to 65 the average:
- High School Graduate would earn $308,320 more than a High School dropout
- Person who received some college or an associates degree would earn $536,960 more than a High School dropout.
- College graduate would earn $1,163,120 more than a High School dropout
- Person with a Graduate or Professional degree would earn $1,755,240 more than a High School dropout.
Do you want to give your child a million dollars? Make sure thay graduate college and the odds are in your favor. Sometimes it’s difficult to get your children to see the big picture and to do what is best for them, but showing them this survey will at least plant a seed in their mind that success in school is important. Ask your child if they would like to have a million dollars . . . then . . . tell them how.
Here is a link to the actual survey,