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Higher levels of education not only raise earnings but also improve employment chances, according to the Bureau of Labor Statistics. Even short-term skill-building or earning a certificate can boost pay. Coursera, which offers free online courses taught by university professors, has won attention from established academics — I even received an email this morning from Zvi Bodie, a Boston University professor and noted author, highlighting new finance offerings.
An associate degree raises average annual earnings by about $6,760 compared with a high school diploma. If you add that extra income each year and adjust for 3% inflation, over a 40-year career it grows to roughly $487,661. A bachelor’s degree increases annual earnings by about $21,580 over a high school graduate.
With college costs rising faster than inflation, free learning options are a real financial benefit. Coursera hosts courses from top schools — Princeton, Stanford, UC Berkeley, Michigan-Ann Arbor, and the University of Pennsylvania, among others — making high-quality instruction widely accessible.
Coursera is also working with the American Council on Education to make some courses eligible for transferable credit. That means you could take a free Coursera class, pass an exam, and for a modest fee receive credit that may transfer to a degree program. It’s a practical way to expand knowledge while cutting education costs.
Think of education as building human capital — the present value of your future earnings. It may not be money in the bank today, but increasing your skills and credentials boosts your future income and long-term wealth.
This winter Coursera is offering about 60 free courses, from “Grow to Greatness: Growth for Private Business” (UVA) and “Calculus: Single Variable” (University of Pennsylvania) to “Introductory Philosophy” (University of Edinburgh) and “The Fundamentals of Personal Finance Planning” (UC Irvine). Find a reason to learn more — it will raise your confidence and your earning potential.
