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Re:Colleges at the breaking point, forcing ‘hard choices’ ab... by bretpiatt on Thursday April 30, 2020 @11:58PM (#23038985)
Lots of research done on this by Bryan Caplan (Princeton) [1], the TLDR is return on a degree is mostly signaling.

[1]https://en.m.wikipedia.org/wiki/The_Case_Against_Education

P.S. Signaling is very profitable for the individual benefitting from the signaling, it just isn't good for society.

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