Much can be said about the college experience:  the learning experience, the social development, the preparation for the real world.

But with the high and rising cost of college, is it a foregone conclusion that from a strictly financial standpoint, college is worth the cost?

Not according to Laurence Kotlikoff, professor of economics at Boston University. 

He has found that more often than not, people can have a better lifetime standard of living by choosing NOT to get an advanced degree. And, he says that people can be better off financially by not obtaining an undergraduate degree at all.Professor Kotlikoff makes his case by comparing the livelihoods of plumbers and doctors.  Yes, doctors have a bigger salary.  But, doctors have to endure nearly a decade of expensive education before making any real salary, after which the doctor is hit by a very high progressive tax rate.  Because of all the costs the doctor incurs, the taxes and the lost wages, he says, “plumbers make more, and have almost the same spending power over their lifetime as general practitioners."

Read the story, Forget Harvard and a four year degree.