Bachelor’s degrees more common
March 6, 2012
A new report released by the U.S. Census Bureau reveals that the number of Americans with bachelor's degrees has reached its highest point ever.
The report finds that, for the first time, more than 30 percent of U.S. adults aged 25 and older have at least a bachelor's degree. As recently as 1998, fewer than one-quarter of people this age had this level of education.
Over the past decade, individuals of Hispanic descent graduated college in record numbers. The number of Hispanics with bachelors' degrees increased by 80 percent (from 2.1 million to 3.8 million) between 2001 and 2011, according to the Census Bureau.
More women than men are have bachelors' degrees today as well. The number of women 25 and older with bachelors' degrees increased 37 percent in the last ten years. The comparable increase for men was 23 percent.
In total, 61 million Americans now have bachelor's degrees - 30 million are men and 31 million are women.
"This is an important milestone in our history," Census Bureau Director Robert Groves said. "For many people, education is a sure path to a prosperous life. The more education people have the more likely they are to have a job and earn more money, particularly for individuals who hold a bachelor's degree."
The report found that those with a bachelor's degree earn considerably more money than those with only a high school education. For those whose highest degree was a bachelor's degree, the average annual salary was $58,000 in 2010, compared to $31,000 for those who only completed high school.
Individuals with bachelors' degrees also fared better in terms of having jobs in the recession. The Census Bureau reports that the unemployment rate for college grads reached a high of 5.9 percent in February 2010. That same month the unemployment rate for high school drop outs peaked at 17.9 percent.
The data confirms the reasons many mothers decide to pursue a college degree while raising a family. Some say that increasing their earning potential, being more competitive in a difficult job market and having the ability to move into more senior roles in their jobs are among the top reasons they decide to go to school to earn a bachelor's degree.
Others admit that going to college helps them realize one of their dreams. In addition, this dream can have positive effects on their children.
"Many children of parents who went back to school have high respect for their parents' sacrifices and are likely to make education a priority for themselves," Distance-Education.org states.
No matter what their reasons for going back to school are, moms who decide to further their education should know that they can help offset the high cost of college tuition through grants for parents, scholarships for mothers and other financial aid.
