WASHINGTON – A college degree isn’t cheap — but is it even worth the cost?

If you like money it is, so says Consumer Reports, citing the annual 529 report from the College Savings Plan Network.

The report shows that a college graduate is likely to earn $570,000 more than a high school graduate over a lifetime.

Having a college savings plan in place is helpful, too. Consumer Reports finds that kids with such a plan are six times more likely to earn a higher education degree than those who don’t.

A 529 college savings plan is an investment plan with tax advantages, typically set up by a parent or grandparent.

Brennan Haselton contributed to this report. Follow WTOP on Twitter.

(Copyright 2012 by WTOP. All Rights Reserved.)