Benjamin Franklin is quoted as saying, “An Investment in knowledge pays the best interest.”
At no point in time has this statement been more accurate.
According to an article published in US Today, the pay gap between college graduates and workers with no more than a high school diploma was as much as 56% in 2015. Rather than narrowing, this gap is likely to grow even wider, especially as we approach a post-pandemic economy.
Generally, a worker with a high school diploma can expect to earn less than half of what a college grad will make, despite working similar or even longer hours. While professionals with a degree will continue to expand their potential earning thanks to the growing digital economy, those without a college degree may face an increased risk of unemployment.
It also goes without saying that those who earn less may find it more difficult to achieve life-long dreams such as homeownership, financial freedom, and retirement. When we look at it this way, pursuing higher education is a great investment in your future.
However, obtaining a college degree can be costly, and as many people have discovered, taking on student debt can have a lasting negative impact on your financial wellbeing. If you have a structured settlement or annuity, exchanging your payments may allow you to pay for your school without loans and the financial stress they often cause.
Exchanging your payments for a lump sum of cash to fund your education may allow you to:
Get Your Degree Without Debt
Using your lump sum to pay the costs associated with getting your degree can allow you to focus on school without worrying about how you will repay educational loans once you graduate.
Embrace Your Passion For Learning
Learn a new skill or explore your passions through higher education, allowing you to grow both personally and professionally.
Invest In Yourself
Using your lump sum to invest in yourself via higher education has the potential to change your life and how you view the world.
Increase Your Earning Potential
Having a degree will afford you more job options and can often increase your overall earning potential in your chosen field.