September 14, 2007
A recent study conducted by the College Board shows that citizens with college educations not only have higher levels of income than those without, but the report also reveals that college graduates also contribute more to their communities and societies as well as benefit others.
Released this week during a panel discussion on Capitol Hill, the report entitled, "Education Pays, The Benefits of Higher Education for Individuals and Society," said its findings show that individuals with college educations are more likely to receive multiple benefits for themselves and their families. In addition to having a higher income and lower unemployment and poverty levels, college grads are more likely to receive healthcare benefits from their employer, engage in more leisure time exercise, and have a lower smoking rate when compared with their lower education counter parts, leading those with college educations to have over-all healthier lifestyles.
Additionally, children of parents with higher education are more likely to be involved in extracurricular activities, and to be better prepared for school, than children of parents without a higher education.
The study continued to reveal that a college education is not only rewarding to individuals and their families but also to the society and community in which the individual belongs to.
The study's results show that those with higher levels of education are more likely to give back to their communities, participating in civic duties such as volunteer work, voting and blood donation. It also showed that those with higher levels of education have a greater level of openness for the opinions of others.
In addition to performing more civil work for their communities, the report shows that those with college degrees help to increase the income of the metropolitan area that they work in. Therefore, workers with lower education levels will most likely earn more if others in there area have higher levels of education.
According to the Higher Education Washington Inc, NewsLine, College Board President, Gaston Caperton said in a statement, "Higher education's broad payoff—which includes both monetary and nonmonetary benefits—should motivate U.S. policymakers to work toward improving access to postsecondary education for all segments of the population."
"[Higher education] yields a high rate of return for students from all racial/ethnic groups, for men and for women, and for those from all family backgrounds. It also delivers a high rate of return for society," the study said.
"In the current climate of rising college prices and budget constraints at all levels of government, it is particularly important that the benefits of higher education receive as much attention as the costs," said Caperton in the statement. "[This study illustrates] the role of higher education in creating opportunities for students and in strengthening our country as a whole."
"By helping people to get the college education that they want and deserve, we are in turn, strengthening our future economy and society," said EdFed loan counselor, Jennifer Munson.
"Our goal at EdFed is to help students realize their dream of earning their college degree, and helping graduates and professionals manage the student loans that may result from obtaining an education," Munson added.
About EdFed:
As a leader in the student loan industry, EdFed is dedicated to helping students and graduates realize all of their educational goals and meet their student loan and consolidation needs.
Media Contact:
Brooke Heath
EdFed
626-243-9423
bheath@edfed.com
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