(CNN) – Student loan debt is hitting record highs but a new report is highlighting the economic benefits of a college degree.

Researchers found that the average college graduate earns $78,000 a year as compared to $45,000 earned by people with only a high school diploma. (Source: CNN)

So does a college education pay off?

The answer is yes, according to new research from the Federal Reserve Bank of New York.

The new data shows that four years of university study can lead to fuller pockets in the long run.

The research found the average college grad earns $78,000 a year.

That’s compared to $45,000 earned by someone with only a high school education.

That’s more than $30,000 a year.

However, the

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