Want to Increase Your Salary? Earn a Degree… for Free

Many people pay for education with debt. Service members earn it through benefits.

If you want to earn more money and lower your risk of unemployment, the data is clear: education pays.

According to the U.S. Bureau of Labor Statistics (BLS), higher levels of education consistently lead to higher earnings and lower unemployment rates. For service members and veterans, this matters even more because the military offers ways to earn those degrees without paying out of pocket.

Let’s look at the data, then walk through how a junior service member or veteran can realistically use Tuition Assistance (TA) and the Post-9/11 GI Bill to move up the education and income ladder.

What the Data Shows: Education = Higher Pay, Lower Unemployment

SOURCE: U.S. Bureau of Labor Statistics Earnings and Unemployment Rates by Educational Attainment, 2024

The BLS information below shows median weekly earnings and unemployment rates by education level for adults age 25 and over (2024 data):

Less than a high school diploma

Median weekly earnings: $738

Unemployment rate: 6.2%

High school diploma

Median weekly earnings: $930

Unemployment rate: 4.2%

Some college, no degree

Median weekly earnings: $1,020

Unemployment rate: 3.8%

Associate’s degree

Median weekly earnings: $1,099

Unemployment rate: 2.8%

Bachelor’s degree

Median weekly earnings: $1,543

Unemployment rate: 2.5%

Master’s degree

Median weekly earnings: $1,840

Unemployment rate: 2.2%

Professional or doctoral degree

Median weekly earnings: $2,278 to $2,363

Unemployment rate: approximately 1.2 to 1.3%

Bottom line: Each step up in education increases pay and reduces the likelihood of being unemployed. Over a year, the difference between a high school diploma and a bachelor’s degree is more than $30,000 in additional income. Over a career, that can easily reach hundreds of thousands of dollars.

Why This Matters for Service Members and Veterans

For most civilians, earning a degree means taking on student loan debt. For service members and veterans, it does not have to. The military offers two of the most powerful education benefits in the country:

• Tuition Assistance (TA) while you are serving

• Post-9/11 GI Bill after you separate or retire

Used correctly, these benefits can take someone from a high school diploma to a bachelor’s degree, or from a bachelor’s degree to a master’s degree, with little to no personal cost.

Let’s look at two realistic examples.

Example 1: High School Diploma to Bachelor’s Degree

Starting point:

• Enlists with a high school diploma

• Junior enlisted (E-3 or E-4)

• No college credits

  
  

Step 1: Use Tuition Assistance While Serving

While on active duty, the service member uses Tuition Assistance, which typically covers:

• Up to $250 per credit hour

• Up to $4,500 per year

  
  

They take one or two classes at a time, online or at night, while serving.

Result after 4 to 6 years:

• Earns 30 to 60 college credits

• Possibly completes an associate’s degree

• Pays $0 out of pocket for tuition

  
  

Step 2: Separate and Use the Post-9/11 GI Bill

After leaving the service, the member uses the Post-9/11 GI Bill to:

• Finish a bachelor’s degree

• Have full tuition paid at a public university

• Receive a monthly housing allowance

• Get up to $1,000 per year for books

Outcome:

• Goes from a high school diploma earning about $930 per week

• To a bachelor’s degree earning about $1,543 per week (BLS median)

  
  

That is an increase of over $30,000 per year, debt-free.

Example 2: Bachelor’s Degree to Master’s Degree

Starting point:

• Separates with a bachelor’s degree

• Has some GI Bill entitlement remaining

• Wants to increase earning potential or change careers

  
  

Step 1: Use Remaining Post-9/11 GI Bill

The veteran enrolls in a master’s degree program that qualifies for Post-9/11 benefits.

The GI Bill:

• Pays tuition (up to the annual cap or through Yellow Ribbon)

• Provides a monthly housing allowance

• Covers books and supplies

  
  

Step 2: Graduate with an Advanced Degree

With a master’s degree completed, the veteran enters the civilian workforce at a higher level.

Outcome:

• Bachelor’s degree median earnings: $1,543 per week

• Master’s degree median earnings: $1,840 per week

• Lower unemployment risk

• Greater access to leadership, management, and specialized roles

  
  

Again, no student loan debt.

Education Is One of the Best ROI Benefits You Earn in Uniform

The BLS data confirms what many veterans already know from experience:

• Education increases pay

• Education improves job stability

• Education opens doors to careers you cannot access otherwise

  
  

What makes military service unique is that you already earned the funding.

Whether you are:

• A junior service member just starting out, or

• A veteran planning your next chapter

  
  

Using Tuition Assistance and the Post-9/11 GI Bill strategically can turn your service into long-term financial security.

Final Takeaway

You do not need to guess whether education is worth it. The data proves it.

The real question is whether you will use the benefits you earned to get there.

If you want help mapping out a plan from TA to the GI Bill to your next degree, Military Benefits Assistant can help you understand your options and avoid costly mistakes.

Education pays. In the military, it can pay without debt.