SOURCE: Edvisors

August 23, 2007 10:37 ET

College Graduates Earn $1.2M More With Degree Despite Higher Cost of Education

Student Loan Network Offers Options to Help Invest in Education

QUINCY, MA--(Marketwire - August 23, 2007) - While the cost of a higher education degree continues to rise, new research from the National Association of Student Financial Aid Administrators (NASFAA) demonstrates that graduates of higher education earn vastly more than high school graduates, making even significant investments in the cost of a college or graduate degree worthwhile.

The most recent figures, published in NASFAA's Journal of Student Financial Aid, indicate that a college degree holder earns $1.2 million more over their lifetime than a high school graduate. Graduates earning a master's degree earn on average $1.8 million more over their lifetime, while graduates with doctoral degrees earn a whopping $2.91 million more over their lifetime than a high school graduate.

"The value of a higher education can be measured in the millions, which offsets the cost of that education as long as students borrow responsibly and manage their finances well," said Katie Dexter, director of loan origination at the Student Loan Network, an education finance company based near Boston, Massachusetts. "It's no secret that tuition continues to increase year over year, but investing in your education does, on average, pay off very well."

Dexter continued, "The good news is, there are ways to help with the ever-increasing cost of education. Seeking federal student loans and college scholarships is the right place to start, but they're often not enough to pay the entire bill. That's where private student loans fit in." Private student loans, such as the Act Education Loan through the Student Loan Network, can help. Private student loans are credit-based student loans that aren't based on family need. These funds can help cover education expenses -- including tuition, room and board and books -- when federal funds or college scholarships aren't enough.

Undergraduate, graduate, and continuing education students can apply for alternative student loans at www.ActEducationLoans.com. Students are strongly encouraged to have a co-signer. Students can also apply by phone by calling toll-free (877) 328-1565.

ActEducationLoans.com is a service of the Student Loan Network, one of the nation's fastest growing providers of student loans and related information. Since 1998, we have helped approximately 25 million students and parents access over $1 billion in federal and private student loans, scholarships and consolidation funding for undergraduate, graduate and continuing education. To help make the confusing and stressful financial aid process easier, the Student Loan Network also delivers helpful information, including the award-winning Financial Aid Podcast, a multitude of financial aid-related blogs and the monthly Financial Aid Newsletter. Learn more about the Student Loan Network at www.StudentLoanNetwork.com.

Citation: NASFAA (National Association of Student Financial Aid Administrators) Journal of Student Financial Aid; Volume 37, No.1., page 19, "The Financial Value of a Higher Education," by Mark Kantrowitz.

The lender for the Act Education Loan Program is PNC Bank, N.A., Member FDIC and Equal Opportunity Lender.

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