For generations, parents have urged their kids to go to college. Conventional wisdom would argue that more schooling meant better earnings and ultimately a better life.
The Treasury Department just published "The Economic Case for Higher Education" which provides the data to back that argument. We've pulled out the key charts.
1) Unemployment rates and median wages clearly show improvement with more education
2) This chart of intergenerational mobility shows that a college education helps children climb the social ladder and move out of the income levels they may have been born into
3) Unfortunately, state and local funding is shrinking, which means it is increasingly becoming the student's responsibility to find financing
4) Fortunately, Federal financial aid is there to fill the financing gap.
Ultimately, more education is good for the economy and everyone in it. The Treasury argues that the government should continue to invest in America by spurring Federal financial aid
For more stories of getting ahead...Check out our Alger Index of rags-to-riches stories >
More From Business Insider
- 8 Top Wall Street Economists Preview Today's FOMC Meeting
- The 3 Most Important Factors Driving Home Prices
- 11 Unusual Metals And Minerals We Rely On Every Day