Because of the risk of making less than a high school graduate after a lifetime of work. That is the finding of a new study by the Federal Reserve Bank of St. Louis.
The risk is this: not everyone who starts college gets a degree. In fact, a large proportion of those who start school eventually drop out--as many as 50 percent of those who enroll at a four-year public college drop out before getting a degree, notes the study. For dropouts with $50,000 in student loans, their lifetime earnings will not surpass those of a high school graduate until well beyond retirement.
Source: Federal Reserve Bank of St. Louis, College Degrees: Why Aren't More People Making the Investment?
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