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Opportunity Cost of Adults Going to College

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What are opportunity costs for an adult to go to college? Please use your own experience as a basis to explain your answer.

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Solution Summary

This solution outlines many of the opportunity costs of adults going to college. It includes the experts personal experience to illustrate the conclusions that may be reached regarding education and the high opportunity costs associated with it.

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I think one of the major opportunity costs associated with going to college as an adult has to do with wages. For example, let us say that you were working and earning $45,000 a year, and you earn a 10% raise a year. You decide to return to school to do a MBA. You hope that in the future, your salary will be much higher. You will be in line for higher manager jobs, you will gain a lot of information and you will be considered a more valuable candidate.

The program is 2 years, and costs $25,000 a year. Books, fees and expenses cost $5000 a year. So the first year, you spent $30,000, and you did not earn a salary.

Then, in the second, you would have ...

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