And now, thanks to online degrees, it is possible for them to do so. No longer restricted by the walls and stringent schedule of a classroom, 'returning adults' are able to reach their educational goals without sacrificing work or family.

Even in a time of wide public concern about the rising costs of higher education, the study found that American adults overwhelmingly believe that advanced learning is an investment that pays. Nine out of 10 (89%) said that the benefits of higher education are equal to or greater than the time, money, and energy invested.

"One of the big surprises was the mix of reasons why people thought it would be beneficial to get more education," said Lyungai Mbilinyi, PhD, author of the study report. "We thought that the prospect of a higher income would come out on top, and although 71 percent did think additional education would help them earn more, several intangibles were rated even higher. Eighty-one percent associated higher education with a personal sense of accomplishment and 78 percent believed education would help them better develop their talents or pursue their interests."