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(Phoenix, AZ) – Demonstrating the financial value of earning a university degree, the �¼������ϲ� Board of Regents , approved today by the board, details wages earned by graduates of �¼������ϲ�’s public universities.

Last year �¼������ϲ�’s public university undergraduate degree holders living in �¼������ϲ� earned $14.9 billion in �¼������ϲ� wages and graduate degree recipients brought in an additional $7 billion. These graduates were not only a major driver of the state’s economy, they also contributed more than $1.5 billion in state taxes.

“Our graduates are essential for �¼������ϲ�’s economy, filling jobs of the New Economy and building the state’s tax base. These graduates are meeting workforce demands in our state as baby boomers retire and moderate wage jobs like office support, food services and production work decline in our state,” said �¼������ϲ� Board of Regents Chair Larry E. Penley. “It is imperative that we continue to increase the number of graduates from our universities as �¼������ϲ� lags other states in terms of educational attainment.”

The report underscores the earning power of a university degree, including among students who accrue debt to finance their education. Median repayment rates among graduates as a percentage of monthly income range from 5 to 5.8 percent for graduates with bachelor’s degrees and from 7.6 to 9.5 percent for individuals with a graduate degree over a 10-year period after graduation. Moreover, median wages one, five, 10 and 20 years after graduation have all increased since 2010.

“It’s clear that a college degree is worth the investment with wages rising over time and median debt accounting for a relatively small portion of many graduates’ earnings,” said �¼������ϲ� Executive Director John Arnold. “Graduates of �¼������ϲ�’s public universities are more likely to be employed and have stronger earning power after graduation, even with student loan repayments.”

The board has set to increase educational attainment in �¼������ϲ�, providing access for more students to realize better quality of life through higher education while contributing to the state’s economic vitality.

Top areas of study at the universities and associated median wages include:

�¼������ϲ� State University

Northern �¼������ϲ� University

University of �¼������ϲ�

The report also found that graduates’ persistence in the �¼������ϲ� workforce declines over time. Without comparable data from other states, however, it is unclear if the persistence rates in �¼������ϲ� are normative or cause for concern.

*Note: Totals reported for the �¼������ϲ� public university enterprise duplicate graduates who received more than one degree from �¼������ϲ�’s public universities.