It's clear from the table above that some college degrees pay off and some may not. Professional degrees, like MD's, have the highest salaries but also require the longest length of schooling. It's important to account for the 11-13 years of school when the student really isn't earning anything at all. These years of lost wages can impact the return on investment of professional degree programs quite a bit and if you finish medical or law school with a couple hundred thousands dollars worth of debt, the higher salary is cut down a notch while student loans are paid off. Engineering and science type degrees seem to pay off very well, if you can keep your college expenses reasonable via scholarships or attending a State School. Then there are the degrees in areas that may or may not lead to a highly paid career. These are such things as sociology, psychology, history, social work, etc. Given that you could make more money in a skilled trade, without the expense of college, if a career in one of these fields is what you're after, it's imperative to keep your college costs low. Start at a Community College and then transfer to a State School. You'll save thousands of dollars and won't regret it.

Finally, it's important to note that the skilled trades are paid pretty well, especially for those with experience. There is no required schooling, only an apprenticeship and a test. These jobs may not seem glamorous but the pay and union benefits are high given the schooling required. In addition, for those enterprising individuals who have an entrepreneurial bent, starting a business as a plumber, electrician, or carpenter can be very lucrative. And these trades people are in high demand since their jobs cannot be shipped overseas.



