Is college still a good investment despite the soaring cost of tuition? Most definitely, concludes a new report by the San Francisco Fed. It found that most of those who graduate with a four-year degree can expect to earn about $831,000 more by retirement age than those who skip college. That includes the cost of tuition and four years of missed wages while getting the diploma, notes Reuters. Researchers found that after 10 years in the work force, graduates in the 1990s-2000s were making $26,800 more per year than those without a degree.
"Although there are stories of people who skipped college and achieved financial success, for most Americans the path to higher future earnings involves a four-year college degree," writes the Fed's Mary Daly. And as Quark puts it, "Yes, college is still worth it." (This columnist agrees.) The report ends with a recommendation to redouble the push to rein in college costs, saying it would be "time and money well spent."