1. How can the value of a bachelor’s degree increase even if bachelor degree salaries decrease?

2. What do the authors say about the relevance of the cost of living (food, housing, transportation, clothing) to the main question of the paper?

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3. Why do the authors omit college loans from their analysis? (Look for the footnote.)

4. Although tuition has been rising quickly, what qualification connected to tuition do the authors tell us is relevant to take into consideration?

5. What is chronic underemployment? For the group that ends up chronically underemployed is college worth it? What do the authors do to answer this question?

6. The study also looks at returns by major. Since not everyone would succeed in a high return major, what does that mean for the interpretation of the returns by major? Explain.

7. Does the study take into account those who start college, but do not finish?

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