MISERABLE MASTERS

Almost half of U.S. government student lending goes to postgraduates even though they are 17% of all students. Moreover, since 2000 the inflation-adjusted cost of graduate studies has tripled, and the average debt load has risen by 50% to $50,000 in the last 20 years. Making this much worse, after accounting for SES and undergraduate grades, in the U.S. earning a master’s raises average lifetime wages by a trivial $50,000.