Short Answer 
Carol’s pursuit of an accounting degree is likely to provide a high return on investment due to the significant income potential compared to non-graduates. While the cost of obtaining the degree is substantial, the expected salaries and career growth offer considerable long-term financial benefits.
Step 1: Assessing the Value of a College Degree
Carol’s journey begins with understanding the financial benefits associated with obtaining a college degree. The significant difference in income between college graduates and those without is paramount. Specifically, accounting graduates can expect:
- Starting salaries averaging around $61,000 per year.
- Considerable salary growth throughout their career.
- Improved job placement and stability compared to high school graduates.
Step 2: Analyzing Costs vs. Benefits
Next, it’s essential to analyze the costs involved in earning a degree. The typical investment in a four-year degree from a public university is approximately $106,360, which includes tuition and fees. When we weigh this cost against the potential earnings from an accounting career, we find:
- A clear path to recouping that initial investment.
- A calculated return on investment (ROI) that can range around 1,500% or more.
- A strong likelihood of long-term financial stability and growth.
Step 3: Making an Informed Decision
With the financial data in hand, Carol can now make an informed decision about her educational journey. It’s important for her to consider the long-term implications and potential outcomes of her degree. Key factors include:
- The importance of selecting a reputable public university.
- The value of networking and internships during her studies.
- Understanding that the benefits of an accounting degree outweigh its costs in a sustainable manner.