Writing

Question: To what extent does ones level of education influence other factors of their life

Multimedia Presentation

EST.2024

World as 100 People

• Conclusion

• Review

• Student debt

• Health

• Sources

• Employment/Earnings

• U.S. inflation rate 2019-2024

• HomeOwnership

Table of Context

• How does ones level of education impact their housing

• 40% of homeowners in the U.S. have received a bachelor’s degree or higher and 30% have some college experience and/or an associate’s degree, meaning 70% of all homeowners have had some type of education beyond high school.

• Twenty-three percent of homeowners in the country have completed high school and 7% of homeowners have not finished high school. The report found that this trend has increased over the past 12 years.

HomeOwnership

Inflation rates in 2024 are high as home prices are now 47% more expensive than they were in early 2020. The median sale price is now five times the median household income. People who only have a Diploma or little to no education may struggle to afford housing with the current inflation.

low House affordability

U.S. inflation rate 2019-2024

unemployment Rates

• How does ones level of education impact their employment/unemployment rate and their earnings

• In 2023, median income for recent graduates reached $60,000 a year for bachelor’s degree holders aged 22–27. For high school graduates the same age, median earnings are $36,000 a year.

• Indivuduals who have experienced education beyond college are more likely to be employed than those with only a highschool diploma

• The unemployment rate for individuals age 25 and older with at least a bachelor’s degree has consistently been about half of the unemployment rate for high school graduates.

Employment/Earnings

• How does ones level of education impact their health

• Based on education level specifically, 27 percent of adults with less than a high school diploma reported not being able to see a physician due to cost, compared to 18 percent of high school graduates and just eight percent of college graduates. Financial barriers make uninsured individuals less likely to seek preventive care or assistance with disease management.

• Many studies have concluded that higher levels of education are associated with a decreased chances of illnesses like heart conditions, hypertension, high cholesterol, diabetes,etc.An additional four years of education has been associated with a 2.16 percent reduced risk of heart disease and a 1.3 percent decreased risk of diabetes.

Health

51% delayed when purchasing a house. Having a large amount of student loan debt may delay your ability to purchase a house. Even if you can afford monthly mortgage payments, having to put money toward your student loans each month may prevent you from saving enough for a minimum down payment.

46% delayed when moving out of family member's home after college. Even if you can’t afford to purchase a home, you may want to be able to move out and rent a place on your own. However, some studies show having large amounts of student debt can make even renting a challenge, especially if you live in big cities with high costs of living.

Housing

40% have little to no money for emergy savings. Student loan payments can impact your ability to set aside money for emergency expenses, a down payment for a home or car and other financial goals. Most prominently, student loan debt can significantly impact retirement savings.

No emergency saving

Moving out

Student debt

Impact of student debt

Review

• https://www.parealtors.org/blog/college-grads-more-likely-to-be-homeowners/

• https://onlinelibrary.wiley.com/doi/10.1111/manc.12421#:~:text=Homeownership%20rates%20are%20just%202,and%20a%20high%20school%20diploma
• https://arbor.com/blog/educational-attainment-among-small-apartment-building-residents/
• https://www.investopedia.com/articles/personal-finance/100515/10-ways-student-debt-can-destroy-your-life.asp#toc-challenges-buying-a-home
• https://www.bankrate.com/real-estate/inflation-housing-market/?tpt=a#inflation
• https://www.nar.realtor/infographics/impact-of-student-debt-on-life-decisions

Sources

information

Conclusion: while higher levels of education can provide many benefits such as improved health, higher employment and housing rates, it can leave you financialy diminished

THANK YOU!