A College Degree Still Pays Off—But Student Choices Matter

College Board

• April 14, 2026

New York, N.Y. - New national data from the College Board Education Pays 2026 report show that education continues to deliver strong economic and career benefits. More education is linked to higher wages, stronger employment outcomes, and less reliance on public assistance. At the same time, results vary more than ever based on what students study, where they enroll, and whether they complete their degree.

Education Pays, part of the College Board Trends in Higher Education series, examines the economic, employment, and societal benefits associated with education beyond high school. This year's findings reinforce the long-term value of a college degree while highlighting the growing importance of pathways, completion, and career alignment.

"A college degree is one of the largest investments most families make, and students and families are right to ask what they can expect in return," said Jessica Howell, vice president of research at the College Board. "The data show that education remains a powerful driver of opportunity, but there are differences in outcomes. The question isn't just whether education pays-it's which pathways lead to the strongest outcomes. This report illustrates the importance of where to enroll, what to study, and completing a degree in a timely fashion."

Key findings show:

• Among full-time working adults, four-year college graduates earn about 60% more than high school graduates-a wage premium that has been stable for decades. In 2024, 40% of mid-career adults ages 35-44 with bachelor's degrees and 58% of those with advanced degrees earned more than $100,000 annually, compared with 13% of high school graduates.
• College graduates are more likely to participate in the labor force and less likely to be unemployed. In 2025, the unemployment rate among young adults ages 25-34 was 3.1% for college graduates, compared with 5.8% for those without a degree.
• Even after accounting for tuition and borrowing, the typical college graduate recoups the cost of a degree by their mid-30s-and often sooner with financial aid.
• Only 4% of college graduates live in households in poverty, compared with 13% of high school graduates and 23% of those without a high school diploma.
• College graduates are also more likely to work in jobs that provide health insurance and retirement benefits.

The findings also highlight persistent gaps in college enrollment and degree completion across demographic groups, underscoring the barriers many students still face on the path to economic mobility.

Even so, the data make one point clear: Students' choices before and during college play a critical role in shaping their outcomes. Earnings results vary significantly, making informed planning more important than ever in a changing economy.

• What students study matters: Earnings vary by major, with early-career (ages 22-27) earnings ranging from about $44,000 for performing arts graduates to more than $80,000 for graduates in fields such as mechanical engineering and computer science.
• Completion matters: Students who complete their degrees see the strongest returns.
• Informed choices matter: Colleges with higher graduation rates are linked to stronger student outcomes.

Together, these findings suggest that the value of education remains strong, but that students need clearer information and better support to choose pathways that lead to opportunity.

Beyond earnings and employment, the report finds that adults with more education are also more likely to report better health outcomes and higher levels of civic engagement.

"Education Pays 2026 highlights the strong economic and social benefits associated with postsecondary education," said Matea Pender, senior research scientist at the College Board and lead author of the report. "At the same time, changing public views of higher education and rapid technological advances are reshaping the landscape. These shifts make it more important than ever to understand how postsecondary education connects to a changing labor market."

At a time when many are questioning the value of higher education, these findings reinforce what's possible. Expanding access, improving affordability, and supporting degree completion can help more students find pathways that lead to opportunity-and build a stronger future for themselves and the economy.

The full Education Pays 2026 report is available at Education Pays - College Board Research.

About College Board

College Board reaches more than 7 million students a year, helping them navigate the path from high school to college and career. Our not-for-profit membership organization was founded more than 120 years ago. We pioneered programs like the SAT^® and AP^® to expand opportunities for students and help them develop the skills they need. Our BigFuture^® program helps students plan for college, pay for college, and explore careers. Learn more at cb.org.

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