Her paper is a bit flawed as alot more people went to school... so if you're looking over someone's lifetime... they are 60 - 80 years old. That's old data.... If you look at a person that's 32 today... or 27... You'll notice that degree inflation happened... so everyone in their graduating class went to college so they need a Masters degree to set themselves apart... Going to a selective institution helps for multiple reasons 1. You'll be near a big city aka you weren't afraid to leave your city. This is one of the key reasons people stay poor... they expect the good jobs to come to them. So flexibility of geography is a key factor in earning more. 2. Your network at a good school/selective school will help you get into jobs that pay more like Goldman Sachs or Google. So the return at the top end will remain good... especially as wages exploded due to the internet.... so people working at internet based companies will earn far more than people who work at a brick and mortar. But everyone else who wasted their time paying for a useless degree that only exist because the government got involved in the market are going to find out they made a bad decision.... We need more freedom... not less. The government created the problem.... they won't be the ones to solve it.
