Is it better to get the degree or dropout?

Forbes reports.

Is College Still Worth It?

Mark Zuckerberg. Bill Gates. Steve Jobs. Sir Richard Branson. These are some of the world’s most illustrious college dropouts. Of course, they’re also outliers – extraordinary individuals who probably didn’t need college to be successful in the first place. For most people, though, common wisdom says that a college degree is practically a requirement for a good career. But with rising tuition costs and an entire generation of graduates burdened by crushing debt, the ROI on college is shrinking.

The High Cost of Higher Education

First, let’s weigh the overall opportunity cost of skipping college. College isn’t just a degree; there are friends, alumni connections, and the fabled “college experience.” There’s no doubt these are valuable, but the Internet has helped us build global communities for the last 25 years. Do we need to be on a campus to form these bonds?

Now, consider the cost of going to college. You risk taking on serious debt. You potentially take longer to develop the vital skills to be competitive in the world. You lose four years of building professional experience — and four years of earning money instead becomes four years of spending money.

The average cost of attending a top four-year college is rapidly approaching a quarter of a million dollars, and last year’s graduating class is the most indebted ever. The average 2014 graduate with student loans will have to pay back around $33,000. Even after adjusting for inflation, that’s nearly double the amount from only 20 years ago. As costs rise and median wages fall, how will the 40 million Americans with student debt repay what they owe?