PhD programs (which are the ones that are usually getting tuition wavers) don't usually increase lifetime earnings. Generally speaking, when you graduate, you

PhD programs (which are the ones that are usually getting tuition wavers) don't usually increase lifetime earnings. Generally speaking, when you graduate, you make about as much as you would have if you had been working for 5-7 years... and you don't have 5-7 years of salary behind you.