What is the value of a college degree? A new New Jersey Education to Earnings Data System report titled Benefits of Education in New Jersey uses state and supplemental federal data sources to demonstrate that higher levels of education have a positive return on investment to the individual, the state, and society.
The study sought to document the short- and long-term outcomes of education for New Jersey residents to determine if the benefits outweigh the costs to both the individual student and the state as a whole. The report demonstrates that higher levels of education have a positive return on investment to the individual, the state, and society. Higher education not only helps individuals and families achieve upward social and economic mobility but also results in higher tax revenues for state and federal governments.
Researchers at the Heldrich Center for Workforce Development prepared this report using NJEEDS data and additional public sources.
The report is organized around the following seven themes:
- Earnings by educational award level
- Distribution of earnings within levels of education
- Earnings and tax payments by educational award level
- Projected earnings growth over time
- Earnings premium relative to the price of education
- Earnings by type of industry
- Distribution of earnings by college major
Click here to view a recording of the report release webinar.
