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College is expensive. But is it necessary? Find out what Clark recommends later in this email.

💵 Today’s Top Stories

🏫 Is College Really Worth It? Here’s What the Numbers Say

For decades, “a house is the largest purchase most people will ever make, and vehicles are No. 2” was an accepted generalization.

But for those who have children, paying for college can leapfrog one or both of those historical strongholds.

Seemingly every year, the cost of post-secondary education gets more expensive. Is it worth the money?

Clark is a strong advocate for trade schools, for working while in college to offset costs or for keeping costs low by attending a community college for two years and then transferring to an in-state school.

He also loves when families invest for college in advance via 529 plans – assuming they’re taking care of their own retirement first. But what does the data actually say?

According to Pew Research, the median earnings for men ages 25 to 34 working full-time with only some college education or a high school diploma is lower today than it was in 1970.

However, add a bachelor’s degree (or more) to that same demographic and the median earnings have risen sharply since 2014 and are moderately higher than they were in 1970. The data for women follows a similar trend.

In other words, Pew Research concluded, “the gap in earnings between young adults with and without a college degree has not narrowed” in the last decade.

It’s hard to extrapolate the “right” decision for an individual from all those numbers. But in general, college degrees remain quite important for expected earnings. (Keeping expenses in check and avoiding too much debt in the process also matters.)

💸 Today’s Top Savings Rates

Check out our updated list of Clark.com-approved high-yield savings accounts with the highest rates. Here are the top five APYs on our list as of June 5, 2024.

See All Rates | High Yield Savings Accounts Calculator

📊 Stat of the Day

💰️ Deal Alert: Today’s Top Deals

🎙️ Podcast

Summer vacations are just around the corner! New data from Consumer Reports reveals the best and worst sunscreens for skin protection. Also, it’s unbelievably expensive to repair cars after an accident. More vehicles are actually totaled after an accident more than ever before! This may make you wonder if you need an extended warranty on your car. Clark walks through his key car warranty rules.

☎️ Need Money Help?

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.

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