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There are distinct benefits of a college education. A study conducted in April of 2002, by the Institute of Government and Public Affairs for the Illinois Board of Higher Education, showed the following benefits:
- Higher Earnings - Earning a bachelor’s degree provides the average student with over $590,000 in future earnings. Similarly a professional degree provides a present value to the student of almost $1.25 million in future earnings.
- Labor force participation rates and employment rates for people aged 25 and over increase with increased levels of education.
- People with college experience contribute time and money to charitable causes at a higher rate than those with less education.
- Increased levels of education are associated with the increased likelihood of voting or registering to vote.
In addition, college can provide many other benefits that are less tangible, and will help your child become a more well-rounded individual. Benefits include increased self-awareness, the ability to think critically, and an opportunity to meet many different people. Overall, the entire college experience will provide your child with a lifetime of benefits.
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