Enjoy financial benefits
One of the most important reasons why going back to school at this age might improve your life is the financial aspect. It seems that most studies confirm that higher education increases the chance of higher lifetime earnings and decreases unemployment.
An increased risk of unemployment caused by the absence of adequate education could ultimately compound with an aging demographic. In 2016, for example, the national unemployment rate was 4%. Even so, the rate was higher for those who didn’t possess a high school diploma. Those with a Ph.D. only had a 1.6% unemployment rate. Besides, that year’s typical median weekly earnings across education demographics were $885 weekly.
However, those with less than a high school diploma earned a weekly median wage of $504. Also, those with a bachelor’s degree earned a median weekly wage of $1,156, and those with professional degrees also earned a weekly wage of $1,745.
Having advanced degrees could easily open various job opportunities that might offer needed incentives, such as health insurance coverage. Besides, the Brookings Institution showed that a post-secondary degree could serve as a buffer against unemployment during difficult times.
There’s no doubt that research fully supports pursuing higher education. The potential value of these degrees goes even further and directly impacts physical, mental, and emotional health. Besides, you can share the benefits of higher education with the ones you love the most.
