2016 Postmortem
In reply to the discussion: I Will Die With Student Loan Debt [View all]whatthehey
(3,660 posts)A Bachelors gets you 64% higher median income (and a 42% lower probability of being unemployed).
http://www.bls.gov/emp/ep_chart_001.htm
Only 35% are in STEM fields so if they are the only ones worth anything, by definition the median graduate earner has a "worthless" liberal arts degree since they are at the 50th percentile.
Assume average working life of 35 years (lower than most, which will lower NPV in turn) and additional $22,520 annual pay and 3% annual inflation and it shows that median, likely non-STEM degree is worth about $484k in today's money. Let's be insanely generous to HS grads and add back in 4 years of pay at $668 a week but ignore the college grad's likelihood of better benefits and work conditions and discoiunt that college degree by 668 * 208 or $139k.
Which means at median rates, college is worth $345,000 right now.
I'm sure plenty of people are bemoaning they don't make that extra $433/week. They should recall what median means. I worked without a degree and then with one, and well over 20 years ago the pay difference was over $500/week.