What is the value of higher education?
Inputs Next Steps

Highest education level completed
Current age
Retirement age
Annual earnings with this level of education*
$
Your estimated annual increase in earnings
%

This calculator shows how pursuing a higher education may pay off financially during your earning lifetime. If you already have a college degree, furthering your education with an advanced degree may also pay off financially.


The calculator does not factor in additional taxes you owe on higher incomes, or higher retirement and Social Security benefits that usually accompany higher earnings.
Current age:Enter your current age or the age of the person for whom you are doing the calculation.
Estimated annual earnings after graduation:According to the College Board, the average annual earnings for a high school graduate in 2008 were $33,800. (For non-graduates, average earnings were $24,300.) For persons with an associate degree, average earnings were $42,000. For persons with a bachelor degree, average earnings were $55,700. For persons with a master degree, average earnings were $67,300. For more data, see the Web site of the College Board.
Your estimated annual increase in earnings:Enter the annual percentage rate at which you expect your future earnings to grow. As a rule, earnings may grow at a rate that is close to the annual rate of inflation. Inflation has averaged between 2 and 3 percent over the last 10 years.
Education level you wish to attain:Select the level of higher education that you wish to attain.
Highest education level completed:Enter the highest education level that you or the person has completed.
Number of additional years:Enter the number of years required to attain the desired level of education.
Estimated inflation rate:Enter the annual rate that you think the total cost of education will increase while you pursue further education.
Estimated annual earnings:Enter your estimate of how much you will earn each year that you are investing in further education.
Estimated annual cost:Enter your estimate of the total cost for each year of further education.
Average expected earnings:According to the College Board, the average annual earnings for a high school graduate in 2008 were $33,800. (For non-graduates, average earnings were $24,300.) For persons with an associate degree, average earnings were $42,000. For persons with a bachelor degree, average earnings were $55,700. For persons with a master degree, average earnings were $67,300. For more data, see the Web site of the College Board.
Leadfusion CALCULATORS: College Planning Email Results

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The calculators are provided by a third party service provider, Leadfusion, Inc. The figures entered on the input page of this calculator are for hypothetical purposes only. You should enter figures that are appropriate to your individual situation. The results provided by this calculator are also intended for illustrative purposes only and accuracy is not guaranteed by Northwestern Mutual. This calculator is not intended to offer any tax, legal, financial or investment advice and does not assure the availability of or your eligibility for any specific product offered by Northwestern Mutual, its affiliates or any other institution, nor does this calculator predict or guarantee the actual results of any investment product. The terms and conditions of products offered by institutions will differ and may affect the results of the calculator. Please consult with qualified professionals to discuss your situation.

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