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Why Save for College

Reason#1: More Career Opportunities

A college education can give your child options in a future career.  Today, “more than 86 percent of all jobs in the [labor] market require at least a two-year degree.”1

A college education at a technical school, vocational school, community college, or a 4-year university can make your child more qualified for higher-paying jobs than those job applicants with only a high school diploma or GED.Having a college degree also allows your child to consider a variety of careers that are not obtainable without a degree.

Due to the variety of job opportunities with a college degree or certification, college graduates are more likely to be employed than high school graduates, both now and in the future. "65% of jobs in 2020 will require college education or training."2

The skills and knowledge that your child acquires in college can be transferred across jobs, and offers a variety of career options.  Below is a list of skills taught in Texas colleges that can lead to different job opportunities.

Reason #2: Higher Earnings

On average, a community college graduate makes $243,412 (before taxes) more than a high school graduate over a lifetime. 3

A 4-year college graduate makes on average $790,088 (before taxes) more than a high school graduate over a lifetime.3

A college education can provide access to jobs with higher wages and salaries, allowing your child the opportunity to be more financially secure with a higher monthly income to pay for all living expenses after graduation.

Reason #3: Increased Financial Security

Stable employment and higher earnings can help your child build financial security over time.  Building financial security is a process in which “individuals must first learn the knowledge and skills that enable them to earn an income and manage their money. They then use that income to take care of basic living expenses and debt payments and save for future purposes. As savings grow, households can invest in assets that will appreciate over time and generate wealth and income.4

By saving for a college education now, you are enabling your child to take that first step toward financial security by learning the knowledge and skills needed to get a job.

Reason #4: Rising College Costs

By 2030, tuition and fees for a 2 year in-state public associate’s degree could cost approximately $19,515, if costs continue to rise at the rates they have over the past 30 years.5

In Texas from 2003 to 2012, college tuition on average increased by 55% for public schools.6

Financial aid options are available including grants, scholarships, or even loans to help pay for a college education.  Unfortunately, they may not be enough to cover the full cost of college. You can start saving for college now to help cover at least a portion of the future costs of your child’s college education, and to reduce the amount of loans needed to cover any remaining college expenses.


ONET Online. 2008. “The Federal Government’s Dictionary of Occupational Titles”. Accessed June 2013
Georgetown Center on Education and the Workforce. 2010. “Help Wanted: Projections of Jobs and Education Require­ments Through 2018”. < http://www9.georgetown.edu/grad/gppi/hpi/cew/pdfs/fullreport.pdf>
RAISE Texas Analysis of BLS Statistics 2012<http://www.bls.gov/emp/ep_chart_001.htm>
CFED.org <http://cfed.org/knowledge_center/household_financial_security_framework>
Collegesavings.org, 2013 College Cost Calculator, assuming 6% tuition inflation rate
6 Center for Public Policy Priorities. 2012. “The Cost of College”.

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