Education pays 2013: The benefits of higher education for individuals and society

Abstract

Education Pays 2013: The Benefits of Higher Education for Individuals and Society documents differences in the earnings and employment patterns of U.S. adults with different levels of education. It also compares health-related behaviors, reliance on public assistance programs, civic participation, and indicators of the well-being of the next generation. Financial benefits are easier to document than nonpecuniary benefits, but the latter may be as important to students themselves, as well as to the society in which they participate. Our goal is to call attention to ways in which both individuals and society as a whole benefit from increased levels of education. Our focus is on outcomes correlated with levels of educational attainment, and it is important to be cautious about attributing all of the differences observed to causation. However, reliable statistical analyses support the significant role of postsecondary education in generating the benefits reported. Many of the averages we report conceal considerable variation among people with similar levels of education. More information on this variation can be found in this report’s companion publication, How College Shapes Lives: Understanding the Issues. Education Pays 2013 also examines the increases and the persistent disparities across demographic groups in college participation and completion. The magnitude of the benefits of postsecondary education makes ensuring improved access for all who can benefit imperative. This executive summary highlights key ideas in the report