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34.9% of Americans over the age of 25 had educational attainment of having a bachelor's degree or higher in 2019. The state with the highest percentage of people having a bachelor's degree or higher educational attainment was Massachusetts at 50.6%, and the lowest was West Virginia at 24.1%.
In 2011, the Project on Student Debt reported that approximately two thirds of students who graduated with bachelor's degrees from four-year nonprofit universities had taken out student loans, with an average debt of $25,250, an overall rise of five percent from 2009. [52] In 2010, student loan debt surpassed credit card debt. [53]
But only 60% of those students, that is 42% of high school graduates, will graduate within 6 years with at least a Bachelor's degree. [21] Note that Bachelor's degrees in the United States are typically designed to be completed in four years of full-time study, and Master's programs in the US are normally two years (full-time) in length.
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Four-year colleges offer Bachelor of Arts (BA or AB) or Bachelor of Science (BS or SB) degrees. These are primarily undergraduate institutions, although some might have limited programs at the graduate level. Graduates of the tuition-free United States service academies receive both a Bachelor of Science degree and a commission.
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While those with some college averaged $31,046, those with a bachelor's degree averaged $51,194, over $20,000 (64.9%) a year more. [3] The second most dramatic difference in average income was between those with a bachelor's degree with $51,940 and those with an advanced degree who made $72,824, roughly $21,000 (42.2%) more.
Similarly, a systematic review and meta-analysis by Tuan Nguyen and colleagues examining the effects of grant aid find that, across more than 40 studies, grant aid increases the probability of students persisting from year to year and of completing their degree by 2 to 3 percentage points, and an additional $1,000 of grant aid improves year-to ...