Chart: College is a No-Brainer, Right?
Above is the sort of chart that drives seventeen million students to college each year and why the rising costs of tuition haven’t put a damper on enrollment numbers. Recently the Federal Reserve of New York published it as part of their paper, “Do the Benefits of Education Outweigh Their Costs?“.
This sort of statistical outlay makes it only seem obvious that going to college pays off. In fact, as the Fed pointed out, on average college graduates will out-earn non-graduates by $1 million dollars over one’s lifetime.
But be careful. Note the word AVERAGE. Any time you see that word, beware the potential effects of the flaw of averages. Continue reading