AI is decimating white-collar jobs. Is a blue-collar job a safer option?
As students debate the cost of college tuition, vocational schools offer a path to financial independence without any debt.
Earning a bachelor’s degree in a college major will be beneficial in the long run.
That’s the conclusion drawn from a detailed study of the economic benefits of a college degree over time.
A report by the Commission on Postsecondary Education, a university accrediting agency, found that a typical bachelor’s degree netted students nearly $87,000 over the first 15 years of enrollment.
Return on investment varies widely by major, with engineering and architecture degrees paying the highest amount at $204,686 and liberal arts degrees paying the lowest amount at $35,410. But every major paid off in the end.
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“For the average student, I think what this study shows is that it’s a good value,” said Chelsea Pennucci, vice president of research and knowledge management at the accrediting agency.
Will college be worth the cost in 2026?
The value of a college degree may become the most important topic in higher education in 2026.
As tuition costs continue to rise, many Americans increasingly believe that college is not worth the expense. In 2024, Pew Research reported that only 22% of adults think college is “worth it” for students who have to take out loans.
“The cost of college is so high that it makes this issue even more high-stakes for families,” said Armando Arakbay, chief of staff and senior vice president of strategy at the American Council of Directors and Alumni, an organization not involved in the report.
This study is not the first to examine returns on university investments, but it is unusual in its depth and scale. Researchers tracked nearly 1 million students enrolled at 86 public universities in Texas starting in the 2008-09 school year. They calculated how much the students earned at work and how much they spent on studying.
For comparison purposes, the study also tracked the incomes of demographically similar Texans who did not enroll in college.
Fifteen years after enrolling in a bachelor’s degree program, the average student had earned a cumulative total of $533,151. The comparison group who did not attend college had an income of $432,996.
After deducting education costs, the average student earned $86,806 more than the average non-student.
The accreditor chose to study students in Texas because the state has an “excellent state longitudinal data system that is best in class,” Pennucci said.
“This study we published in Texas was the first of many that we hope will spread to many people,” she said.
Some universities currently charge tuition fees of more than $100,000.
The high list prices at America’s most expensive private universities are a constant source of anger for college students and their families.
CNBC reported in June that at least 16 universities are charging students who pay full tuition more than $100,000 in tuition, fees, and room and board.
However, few students pay full price, and the actual cost of college is usually much lower.
The average net price of tuition and fees for in-state students at public four-year colleges has plummeted by nearly half over the past decade, after inflation, from $4,400 in 2015-16 to an estimated $2,300 in 2025-26, according to a report from the College Board.
At private, nonprofit colleges, average tuition and fees decreased from $19,490 in 2015 to an estimated $16,910 in 2025 after accounting for inflation and aid.
The Texas report focuses on public institutions. The typical Texas student spent a total of $13,349 on higher education over 15 years. This amount may sound shockingly low to someone who paid full tuition at a private university. This is probably a better representation of the 73% of college students nationwide who attend public institutions.
When does a college degree start taking effect?
Researchers followed students over time and found that Texans who chose to attend college started out behind their peers who did not attend college, from an economic standpoint.
Earnings inequality peaked around the fifth year, the earliest a typical college student could enter the full-time workforce. At that point, those attending college will have approximately $34,000 less in assets, including lost earnings and college costs, than those who are not students.
University students caught up with non-students around the 10th year. Then, with rising incomes, college students are getting further ahead each year.
Not all universities achieved the same results. Students enrolled in bachelor’s programs at 27 Texas universities earned more money over time than non-students, the study found. The other two campuses earned less.
Although the study did not identify those schools, Pennucci said colleges with higher graduation rates generally also have higher student incomes.
Notably, the report also included students who did not earn a degree. Nationally, only about three-fifths of college students complete their studies within six years. Without a degree, there is no salary increase associated with it.
Some degrees are more valuable than others
The findings reaffirmed the widely held view that some college degrees are more valuable than others.
Degree programs focused on high-paying careers had a greater return on tuition than programs in traditional academic fields. Engineering and architecture students fared best financially, followed by business and economics majors. A degree in physical science or social science didn’t pay much. Liberal arts finished last.
Some academic leaders fear the report will turn students away from programs that cover the core of human knowledge.
“I’m concerned about the focus on economic gain,” said Ted Mitchell, president of the American Council on Education, who also serves on the steering committee for the Postsecondary Education Commission. “I think that’s a reasonable focus, but I don’t think it should be the only focus.”
One argument for studying liberal arts rather than engineering or business suggests that courses in philosophy and literature teach critical thinking skills, and those skills are beneficial throughout a career in any field.
“Your major in college can be very helpful in finding your first job,” Arakbay says. “But what about a fifth job or a seventh job?”
