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Reply to "Was the cost of your degree worth it?"

I'd say it depends on the degree. For example, one might not want to major in something that's not economically feasible and pay a lot of money for it. That strategy generally produces a net loss. Conversely, if you feel that the lifetime value of the degree will net much more than the tuition, I think it's worth it in that sense.

In my particular case, I'd say my degree is worth it because it was mostly used to leverage myself into a tech job. Were the actual course material something I couldn't have learned on YouTube or on my own? No, not at all. But the piece of paper that says "you did it! You know some things about tech" allowed me the opportunities to pay back my loans, and then some.

Having gotten out of school for about 8.5 years, my investment in tuition has paid for itself 6 times over. I'd say it's most definitely worth it from a financial standpoint. Assuming a tuition spend of $10k/yr for 4 years, and the $33k/yr for 2 years for tuition, my IRR is 34%. Quite good, by any measure.

In this article I wrote, I discuss the internal rate of return for an example major and compare it against other alternatives. I also discuss the intangibles of whether or not a degree is "worth it" by examining how much one should weigh enjoyment to a degree.

But as with anything, the key is to minimize the cost of the degree while maximizing the income produced by the degree.

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