Hmmm… I definitely remember hearing this “go to college and you will earn one million dollars more than if you don’t” thing. Well, it shouldn’t surprise anyone, but it looks like that’s just a big lie. Looking at the median income data, it’s more like $730k instead of $1 million, but that $730k isn’t pure profit… it can cost $120k in tuition to start down that path, and then you tack on interest expenses and the risk of loan repayment penalties… you might be closer to $550k… which is still a chunk of change, but it’s a far cry from $1 million.

So, let it be known: median income data suggests you probably won’t earn $1 million extra just by going to college, and paying off the debt is no walk in the park, either…

The actual site has a better version of this graph, but it shows the cumulative lifetime earning difference… and guess what? the little wedge at the top is the “extra.” Booo!!!

RTFA: http://studentloanbubble.com/2009/03/13/the-lifeti…

Next, Student Loan Bubble presents cumulative earnings, and these results might surprise you. By the time workers are 64, college grads will have earned $1,991,574 while high school grads will have earned $1,258,998. These are median figures, which means that 50% of workers will earn less than these amounts. The difference in median lifetime earning is $732,576, which is less than 75% of the fabled $1,000,000.