CNBC: Why college is a huge expense that’s still worth it — for now

Excerpt from article by Jason Stauffer

College costs have notably increased from a decade or so ago — after adjusting for inflation the cost of an average year of undergraduate study has risen by more than $5,000 since 2007. And as higher education expenses have gone up, student loan debt has followed suit — the average Federal student loan balance has doubled over that same period.

College graduates tend to earn more money. The income gap between those with a college degree and those with only a high school education is growing and increases with age. Whatever you spend on college, you’re likely to end up making that back and more, says Sandy Baum, a nonresident senior fellow at the Urban Institute’s Center on Education Data and Policy….

Without factoring in scholarships or other financial aid, the return of a college degree tends to outweigh the investment. On average, college graduates earn 1.2 million dollars more over their lifetime and are less likely to be unemployed. Even at the most expensive school in the country, and assuming you have to pay every dollar, you got no scholarship, you’d be getting an amazing return, says Matt Sigelman, president of The Burning Glass Institute, a nonprofit research center.

Read more here: Here's Why College Is Still Worth It (cnbc.com)