According to the New York Fed, it takes about 10 years to recoup the cost of a college education—a rate that has remained pretty constant for the past 20 years—and that’s way better than college graduates in 1980 had it, who had to spend nearly 25 years recouping their investment.
Things weren’t entirely rosy for college graduates. The value of a bachelor’s degree is hovering at around $250,000 over the life of the person who earns it, says the New York Fed. That’s twice to three times what it was worth in the 1970s and ’80s, but less than it was worth in 2000, when a degree was worth nearly $350,000. (Slate)
Paul Asay has written for The Washington Post, Christianity Today, Beliefnet.com and The (Colorado Springs) Gazette. He writes about culture for PluggedIn and wrote the Batman book God on the Streets of Gotham (Tyndale). He recently collaborated with Jim Daly, president of Focus on the Family, on his book The Good Dad. He lives in Colorado Springs with wife, Wendy, and his two children. Follow him on Twitter.