Serving the GW Community since 1904

The GW Hatchet

AN INDEPENDENT STUDENT NEWSPAPER SERVING THE GW COMMUNITY SINCE 1904

The GW Hatchet

Serving the GW Community since 1904

The GW Hatchet

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Despite rising costs, analysts say college is worth it

Students are graduating from college with an average of $25,000 in debt, but higher education is still worth the cost, according to an analysis of government data by the Economic Policy Institute.

The income gap between college graduates and individuals with some to no college education was wider than ever last year, the New York Times reported Tuesday. Bachelor’s degree recipients posted hourly salaries 98 percent higher than people without a degree in 2013, up from 85 percent a decade ago.

The overall number of college graduates has also increased, in part because of a rise in enrollment during the recession. Though experts and journalists often shed doubt on the merits of a four-year degree, a diploma will almost always guarantee more income, the Times reported.

Though the price of a college degree continues to rise – a GW degree will cost the Class of 2018 about $241,000 after four years – the decision not to pursue a bachelor’s degree can cost an individual half a million dollars, according to an article published in the journal Science last week.

GW’s Board of Trustees voted this month to add $6 million to the undergraduate financial aid budget, an about 3.6 percent increase. That boost more than restored the $2 million cut that trustees approved last year.

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