This IQP sought to explore the validity of the educators' claim that a four-year college education will bring a person more lifetime cumulative earnings than going to work in the software industry immediately after high school. After reviewing opinions of lifetime cumulative earnings and identifying inadequacies in the formulas used to calculate such results, we designed a better lifetime cumulative earnings formula. To apply this formula, we collected data on annual income for employees in the software industry, student earnings during college, student indebtedness upon graduation, family contribution to college costs and earning investment return rate. We found that only if college graduates aggressively invest their additional income will their lifetime cumulative earnings exceed those of high school graduates.

• This report represents the work of one or more WPI undergraduate students submitted to the faculty as evidence of completion of a degree requirement. WPI routinely publishes these reports on its website without editorial or peer review.

Creator

• Cao, Yi

Subject

• Learning
• Computing

Publisher

• Worcester Polytechnic Institute

Identifier

• 02C005I

Keyword

• Economics
• Education, Higher

Advisor

• Becker, Lee A.
• Hamel, Glynis M.

Year

• 2002

Date created

• 2002-01-01

Location

• Worcester

Resource type

• Interactive Qualifying Project

Rights statement

• In Copyright