This Chart Will Help Put An End To The 'Is College Worth It?' Debate

If a Greek mythologist were writing the story of America's journey out of the Great Recession, student debt would be the many-headed beast that just wouldn't die.

In the last eight years, our student debt load has tripled to more $966 billion, according to a new report by the NY Fed. It's the only kind of household debt that has continued to rise
even after the Great Recession, second only to mortgage debt.

And though it's true that more students are choosing to pursue higher education these days (there's been a 70 percent increase in borrowers), there's no getting around the fact that college is simply more expensive than it's ever been.

Today, a degree costs more $20,000 per year –– a 7% annual increase in three decades, which is well above the rate of inflation, notes Investopedia's Ryan Furhmann.

As such, people have debated whether a degree is even worth its price tag (they've even written books on succeeding without one).

This chart from the Fed report homes in on two important reasons why college might still be a worthy investment.

Still, there is at least one valid argument to be had here.

Just because college graduates tend to earn more and have an easier job getting jobs, what does it matter if they're stuck with an average $27,000 worth of debt to pay off afterward?

According to the Fed, about 17 percent of borrowers were more than 90 days delinquent on their student loan payments in 2012 –– an increase of 7 percent since 2004.