A Gen Xer was tired of balancing 2 jobs and earning under $50,000 a year so he went back to school. The decision 'changed his life,' he said.

"This decision changed my life," Morgan told Business Insider via email. After pursuing higher education, he now earns $78,500 annually in local politics, highlighting the transformative power of education.

College graduates have a considerably higher income than people with a high school diploma and have a lower unemployment rate. For many, a degree can significantly enhance financial stability.

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