Is a college degree still worth it? Study says yes

(File) (David McNew, Getty Images)
(File) (David McNew, Getty Images)
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Updated: 6/24 11:31 am

NEW YORK (AP) — Some comforting news for recent college graduates who face a tough job market, and years of student loan payments, is that getting a college degree is still worth the price you pay for it.

A new report by the Federal Reserve Bank of New York said that people with bachelor's or associate's degrees earn more money over their lifetime than those who skip college, even after factoring in the cost of higher education. 

The study also said that a degree is still a good investment for college grads whose jobs don't require college.

According to the research, a person with a bachelor's degree can expect to earn about $1.2 million more than someone with just a high school diploma. And someone with an associate's degree will bring in $325,000 more than someone with a high school education.

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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