About 20 percent of the time, people with college degrees earn no more than people with high school degrees. That has more to do with field of study.
Those who study arts and humanities, psychology, education ... tend to earn less. And there's a wide distribution of earnings over the years. Some graduates end up at the bottom of the earnings distribution.
Q: Perhaps it is no surprise to see schools like Harvard University ($87,200) and the Massachusetts Institute of Technology ($91,600) at the top of the earnings potential list. But what about the U.S. Merchant Marine Academy($89,000) and Massachusetts Maritime Academy ($79,500)?
A: Curriculum affects earnings. Maritime academies are career-based institutions. They give strong occupational preparation and strong academics. And when you go to sea, you make a ton of money.
Q: How big of an effect does receiving a graduate degree have on earnings potential?
A: It's mostly positive. There are some of them that are dogs.
Professional degrees are strongest over all. If you are an education major or psychology major, you really need to go to graduate school.
Q: If a college with low earnings potential is picked, is the student doomed to a life of limited income?
A: What you're talking about is an aggregate number. If you go to a school where the overall earnings potential is very low, it may be that the school has a very low graduation rate. Or it could be a school where very few have gone on to graduate school. There are some schools that have 50 percent education majors. They have very low earnings potential.
Q: Does the data show what impact returning to school mid-career has on earnings potential and, if so, how much could that change someone's financial trajectory?