Opportunity cost is what you give up. If you are capable of finishing school in four years, you're capable of averaging a $25K income over that time. You're ri

Opportunity cost is what you give up. If you are capable of finishing school in four years, you're capable of averaging a $25K income over that time. You're right about summer jobs, but the vast majority of summer jobs pay less than 1/4 of what you'd get working the full year (plus you have to do a job search for a three-month job, versus a job-search for a multi-year job). Outside of law school summer associates, I don't know of anyone for whom summer jobs routinely mean a raise. I like your friend's story! But imagine if, after four years, he had credible evidence that he could work extremely hard, plus tens of thousands of dollars in savings. A good situation to be in if he wants to start a business.