Seriously, watch this before you go to college

Summary by Krater

The creator analyzes the data on the cost of college versus starting salaries, student loan debt, lifetime earnings by education level, and the impact of race and socioeconomic background to help viewers decide whether going to college is worth the financial investment.

From the video

Answers: Is college worth the cost based on data?

• College ROI
• Student loan debt
• Lifetime earnings by education level
• University tuition inflation
• Socioeconomic background and earnings
• Higher education value proposition

What it concludes

• University tuition has doubled in recent decades while median starting salaries have stayed the same.
• Total U.S. student loan debt has reached 1.76 trillion dollars, which is more than the GDP of all countries except the top 10.
• Lifetime earnings increase progressively with higher levels of educational attainment, from 973,000 dollars for less than high school up to 3,648,000 dollars for a professional degree.
• Student loan debt cannot be bankrupted and must be paid back with high interest over a lifetime.
• For white and Asian individuals, controlling for SAT scores and socioeconomic status, college provides little to no median income value add, whereas Latino and Black individuals see a 30 to 40% increase.
• Going to college is worth it if you come from a lower socioeconomic background, need to build a new network, or are pursuing careers like medicine, law, or STEM that legally require a degree.