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Suppose that your tuition to attend college is 10000 per year and you spend 4000 per year on room and board If you were working full time you could earn 20000 per year What is your opportunit?
Wiki User
∙ 13y ago
Assuming a constant housing cost of 4k, your opportunity cost to attend college is -30k (-10 + -20). If your housing was 'free' while you worked it's -34k.
-34k over four years is -136k
The average annual salary for a HS grad is 30k
The average annual salary for a college grad is 52k
So after college, you'd be expected to break even after working 6 years, and earn substaintially more if your working career lasts longer. You'll need 9 years if you take out a student loan.
Good looking, taller, slimmer, nicer dressing people with polite manners earn more, very much more, far sooner. People with technical educations earn more longer, and those higher earning positions cost less to get. When you consider college, consider working to pay for it yourself. You'll realize the cost of the investment and apply accordingly.
Wiki User
∙ 13y ago
The opportunity cost of attending college would be $20,000, as that is the amount you could earn working full time instead. This is calculated by adding up the tuition ($10,000) and room and board expenses ($4,000) to reach the total cost ($14,000), and then subtracting this total cost from the potential full-time earnings amount of $20,000.
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