6 Reasons to Go Back to School

Higher earning potential, better benefits, job stability - and career success - could start with higher education.

By Marcelina Hardy   

Are you having trouble finding steady work?

Perhaps you feel like you've been waiting forever for a promotion that never seems to come.

It may be time to go back to school.

While earning a college degree does not guarantee career success, studies do show a link between higher education and some interesting benefits...

Need a reason to go back to school? We've got 6. Check them out now.

Reason #1: Higher Earning Potential

You've likely heard from your parents or teachers that more education could lead to more money.

While this won't be the case for everyone, statistics from the U.S. Department of Labor do support the argument.

In 2010, full-time employees with only a high school diploma earned an average of $626 a week, while bachelor's degree holders raked in nearly twice as much at $1,038 a week.

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Reason #2: Lower Risk of Unemployment

With the unemployment rate hovering at just below 9 percent, it's only natural to fear the possibility of unemployment.

But college degree holders may have less to fear than those without higher education.

According to the U.S. Department of Labor, bachelor's degree holders had an easier time finding a job in 2010 than people with only a high school diploma.

The numbers don't lie: while the unemployment rate for high school grads was 10.3 percent, the unemployment rate for bachelor's degree grads was only 5.4 percent.

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Reason #3: More Potential Career Opportunities

By 2018, 63 percent of jobs will require at least some college, according to "Projections of Jobs and Education Requirements Through 2018", a report released by the Georgetown University Center on Education and the Workforce.

This means people with an education beyond high school will likely have more career opportunities than people with only a high school diploma.

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Reason #4: Better Outlook on Life

It turns out that higher education may share a link with a positive outlook, too.

According to a study by an independent research firm, TNS NFO, for Capella University:

• 81 percent of Americans reported that they gained a personal sense of accomplishment because of being a college graduate.
• 75 percent of the respondents stated that having a degree had a positive impact on their lives.

Additionally, individuals with a bachelor's degree were more likely to say they find their career satisfying.

Reason #5: Better Role Model for Children

Earning your degree now could benefit your future children later - or so the research suggests.

According to a 2010 College Board report, "Education Pays," students whose parents had bachelor's degrees were more likely to earn a college degree themselves.

Another study by researchers at the University of Leicester and University of Leeds, found that parents with a higher level of education are more confident and exert more effort in guiding their children through their education.

Reason #6: More Likely to Have Health Insurance

According to a 2009 California Health Interview Survey conducted by UCLA's Center for Health Policy, 76 percent of bachelor's degree holders had employer-based health insurance while only 51 percent of high school graduates did.

Additionally, according to the College Board's "Education Pays 2010" report, workers with a college degree were more likely to have employer-provided pension plans.