Going to college may not be worth it anymore, according to Goldman Sachs.
In a research note, Goldman analysts said that the average economic return for going to college is falling.
For some, the “cost may not be justified,” according to the note.
That is because it’s going to take a lot longer to pay off those student loans, given the rising costs of tuition.
Goldman notes that since 2009 the cost of college has risen by 10.6% in real terms. Wages for college graduates have fallen by 0.1%, in contrast.
“For the typical student the number of years to break even on the cost of college has grown from eight years in 2010 to nine years today. If current cost and wage growth trends persist then students starting college in 2030/2050 will have to wait 11/15 years post college to break even. 18 year olds starting college in 2030 with no scholarship or grants will only start making a positive return when they turn 37,” Goldman’s Hugo Scott-Gall wrote.
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