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How Investing in Education Improves Your Future

When it comes to the costs associated with obtaining a higher education, the numbers are scary, to say the least. The average student loan debt is approximately $23,000, with over 10% of students owing more than $54,000. Additionally, almost 2/3 of all bachelor’s degree recipients borrow money to go to school, translating to almost $1 trillion in student debt.

The question is, is it worth it?

J.G. Wentworth is the nationwide leader in purchasing future structured settlement and annuity payments for cash, and many of our customers want that cash to pay for college for either themselves or a loved one. While we cannot offer specific financial advice, and understand that everyone’s situation is different, today we would like to discuss why most research does support the argument that investing in a college education, in spite of its high price tag, is worth the cost. Here are three reasons why investing in education improves your future.

1) The financial benefits of a college degree are substantial – and only improve with time

Estimates vary, but most researchers contend that a college degree translates to anywhere from hundreds of thousands of dollars to millions of dollars of increased income over the course of a lifetime. Additionally, the sum only increases with time, as college-educated people approaching their retirement years have been shown to have the ability to work longer, at substantially higher pay, than those with jobs that do not require a college degree. College graduates are also statistically more likely to hold onto their jobs during lean times, with college graduates having a 20 year average unemployment rate of 2.8% compared to unemployment rates at 9.3% for those without a degree.

2) The “non-financial” rewards of work also increase for the college-educated 

The second way investing in education improves your future is through the quality of the work itself. Research shows that college-educated graduates have a wider range of job opportunities than those without degrees. Your future will improve with a college degree because you will have more employment possibilities, and therefore be more likely to find a job you enjoy doing – which in some cases can be more important to your quality of life than even a larger paycheck.

3) A college education gives people the tools to make smarter financial decisions

Last but not least, college also improves your future by giving you the tools to make smarter financial decisions. The simple truth is that life is full of complicated choices, and many have a substantial long-term financial impact on a person’s bottom line. These choices include: how to invest your money, whether to rent or buy a home, what retirement options to pursue, and many other decisions – large and small – that can add or subtract immeasurably to your bottom line over time. The better educated you are, and the more prepared you are to make these choices, the more likely that you will make the right ones to protect the financial interests of yourself and your loved ones.

Note that this is just a short list not only of college’s rewards, but also its risks. Please also bear in mind that JG Wentworth cannot make specific financial recommendations of any kind. That said, we do urge you to research all your options carefully, and take a long-term approach when it comes to considering whether investing in education is truly worth it.

We hope we’ve given you some important things to consider regarding whether to pursue a higher education, and wish you much luck in whatever choice you make. And if you have ultimately chosen to invest in either your own education, or that of a loved one, and are looking for cash now to help you pay for any expenses, we encourage you to call J.G. Wentworth anytime at 877-227-4713.

Nothing above is meant to provide financial, legal or tax advice. You should meet with appropriate professionals for such services.