With workers' fears about job security and upward mobility at record highs, education may prove to be the saving grace. A new study by eLearners.com, web resource of EducationDynamics, and Kelton Research found that nearly one in five (19%) Americans - that equals about 40 million adults - know someone at their current or past workplace who has been passed over for a job because they didn't have the right degree. One in ten (10%) respondents say they themselves have been denied a job at some point for not having a degree.

Even once someone has landed a job, not having a degree can hold them back from moving up the corporate ranks. Nearly one in five (18%) Americans - another 40 million - report that a coworker of theirs was denied a promotion because they didn't have a certain degree. And, more than one in ten (13%) divulge that a colleague of theirs was denied a raise because their education level left something to be desired.

"The statistics from this study confirm what has widely been known, not only is a degree critical to getting a job, but it is also key to advancing in one's career," said Terrence Thomas, EVP Marketing Operations at EducationDynamics. "And given the current economic climate, a degree might be needed just to keep your job."

Other Findings from the study include:

Race Matters

More African Americans than Caucasians have been denied a job because of a lack of a college degree. The research found that 25% of African Americans were denied either a job, promotion or a raise, compared to 13% of Caucasians.

It Gets Worse With Age

Older workers are more aware of discrimination in regards to education level. More than a quarter (26%) of Americans ages 55 and older admits knowing about a person at work who was passed over for a promotion because they didn't have a certain degree, versus 15 percent of 18-54-year-olds.

Speaking From Personal Experience

Of Americans ages 55-64, 17 percent say they were denied a better title because they didn't have a certain degree.

You're Not There Yet

Almost one in ten (9%) Americans without a college degree were denied a promotion because of their lack of education.

"The message is loud and clear, that in today's competitive job market, if you don't have the right education others will pass you by," continued Thomas.

"We found that 22% of people who started college but didn't finish have been denied a job, raise or a promotion. What is shocking is that workers are telling us that not having a degree is becoming a significant roadblock in their careers."