Opportunity Cost

So far, I recall learning one thing in the course of my entire college career. I learned it in my Economics class. I learned what "opportunity cost" is.

Opportunity cost is simply the value of the "next-best-thing" you could be doing, if you weren't doing whatever it is you're doing now (more or less).

My opportunity cost for sitting in my classes on an average class day is $90. That's what my time would yield if I spent it working, instead of listening to professors say "Ummmmmmm..." and watching "Refer Madness".

My classes meet twice a week for 14 weeks. That's 28 days. $2520.

I also have a night class one day a week that runs for 3 solid hours. $60 per week. $840 over 14 weeks.

The opportunity cost of this semester of college is $3,360.
4 months rent.
Or, 7 months worth of food.
Or, 56 video games.
Or, some 220 large-size paper back books.
Or, more than 1000 gallons of gas.

Or, somewhat ironically, more than 30 textbooks.

It's taken me about 10 semesters to finish all my degree requirements, but lets be optimistic: let's call it 8 semesters. At half the above per semester value. That's still $13,440.

Of course, this is in addition to tuition and fees, books (which I generally didn't use), supplies, transportation, and -- honest to God -- medication to deal with it all!

But nevermind all that for now. The optimistic opportunity cost alone of my education, excluding time spent writing papers, doing research, finishing homework, traveling to and from class, and spending time on campus between classes, is greater than the poverty-line income per annum for a family of two.

It's not that I begrudge the need for education -- I just which I had gotten one for my $13,440 premium, plus tutition and expenses. Or that somebody would just give me the $13 grand back.