Estimates of a college education’s value range from about $800,000 to as much as $1 million.
However, I find it’s a fictitious figure, only comparing what someone can earn over a lifetime with a college degree, as opposed to earnings of a laborer working at minimum wage for his or her whole life.
An assumption is made that all non-college jobs are non-skilled. Many skilled jobs that do not call for a college degree, such as electricians and plumbers, pay far better than college-bred positions.
Eliminate janitor-type jobs from the conventional comparisons, and the comparison gets completely skewed. (See the Earl J Weinreb NewsHole® comments.)
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