This infographics shows the value of human capital by explaining how long it takes to earn $1 million by education level. Of course, these numbers are averages. An entrepreneur with a high school diploma can become a multi-millionaire while someone with a graduate degree never manages to earn enough to pay off college debt. Still, college pays off on average because most high paying jobs require high levels of skill and training.
1. How would you determine the value of a college education? What numerical problem can you devise and solve to show the NPV of a college degree?
2. In your opinion, is college worth the investment?
Source: FRB Atlanta