Is it ever too late to go back to college? Of course not, which is why many colleges and universities are seeing an increase in the number of older adults enrolling. Although younger, traditional students will earn more money throughout their lifetime, graduating college later in life does not hamper income, says a recent Gallup report.
Nontraditional students' (over 25 years old) incomes mirror the incomes of traditional students who graduate before turning 25. Forty-nine percent of traditional students and 50 percent of nontraditional students make $24,000 to less than $90,000 after graduating college. And, 13 percent of both traditional and nontraditional students make $90,000 to less than $180,000.
"Still," says the report, "traditional graduates likely enjoy higher lifetime earnings because they reap the economic benefits of a college degree for a longer period of time. But in terms of current income, the two groups are equal."
The bottom line? The earlier students attend college, the better. The study suggests traditional students will ultimately get the best return on investment. But if done correctly, nontraditional students would benefit from going to college and graduating instead of not attending at all. They'll enjoy similar earnings as traditional students, and it may boost their well-being.
[h/t U.S. News & World Report]