Having a good education, in the long run, can mean a lot. It makes the difference of whether or not you live in the streets or in a mansion.
If the average high school dropout out makes a total of $609,000 in a lifetime, that means, if they work for 50 years, they only make $12,180 per year. That's making approximately $1015 per month. It will take a long time before they can own a decent 1 bedroom, 1 bathroom house with a kitchen. That's if they aren't married and have children. If they do get married, they better home they marry somebody who is at least a high school graduate.
High School graduates make $212,000 dollars more. If they also work for fifty years, that means they make, on average, $353.30 more per month than a High School dropout. That is quite a bit more per year.
They could actually go on vacation.
The average Bachelors degree earner makes on average, in their lifetime, a total of $1,421,000. Let's say this person ended up working for 40 years. That means that they make, throughout their life, an average of $35,525 per year. If they work for a less amount of years, well then they make all the more per year. On that base, they make an average of $2960.42 per month. That is $1945.42 more per month that the average high school dropout.
A PHD (Doctoral) earner makes during their lifetime an average of $2,142,000. If this person worked for 35 years they would make, per year, an average of $61,200. That would mean that they would make $5100 per month. If they worked for only 30 years and made the same amount, that would mean they would make $71,400 per year, making their monthly earnings...