However, the general figures simply tell us that college grads earn a million dollars more in a lifetime than those who only boast of high school diplomas and GEDs. I don’t know about you but, I’d rather go with statistics here. And those with post-graduate degrees earn more than BA holders.

Thing is, that head start should be part of family plans. For many families, sending kids to college account for one of the greatest expenses in raising a child.

Sure the kid can always get college loans but they’re just means of being debt for a long time after they graduate. The Obama administration is trying to do something about that but until the laws are in place, you shouldn’t hold your breath.

Kids can also work every summer of their adolescent lives and still come up short. These only tell us that saving up for kid’s college education should start early. Experts would even say that it should start the day they were born.

In the US, there’s always a 529 plan for parents to tap. Some states even offer tax incentives if you’re a state resident. Baby’s on the way? Start planning for their future now.

I remember back in high school when the whole “where will you go to college” thing was the senior buzz. I had to opt for the cheaper state university. Quite frankly, I stood in envy of those who were rich to afford swankier colleges. Some of those who were not so rich at least had college funds to tap. And quite honestly, the paycheck difference shows. All because some parents are just more prepared than others.

WSJ has this interesting article that discusses the value of a college degree. Here are some of its key points:

• College graduates earn 60% more than the high school grad annualy and over their lifetimes.
• It might take time to pay back college loans but the intangibles can very well offset the hassle.
• Universities offer programs to help students pursue work that they love.
• You can gain a network of future contacts in a university.

Numbers and stats are definitely just part of the game. What a person does with the opportunity is another. College is definitely a decision that will affect one’s life. Think of it as an investing on one’s future.

Peter Coy of BusinessWeek writes: “For people just starting their careers, the damage may be deep and long-lasting, potentially creating a kind of “lost generation.” Studies suggest that an extended period of youthful joblessness can significantly depress lifetime income as people get stuck in jobs that are beneath their capabilities, or come to be seen by employers as damaged goods.”

This doesn’t only affect the youth. It’s beneficial for organizations to infuse their workforce with young people. Necessary is the vitality, creativity and forward thinking that many rookies possess. In addition, generation gaps in the workplace affect the organization’s succession system.

But the focus still is on today’s generation of young workers. Having a generation of disillusioned and bitter people always spells badly for the future.

Source: MSNBC