A few potential issues I see: 1) Adjustments for cost of living geographic distribution of a college's graduates when earnings is measured. This distribution

A few potential issues I see: 1) Adjustments for cost of living geographic distribution of a college's graduates when earnings is measured. This distribution would not be the same for all colleges. E.g. Texas vs California - 100K/year in SF is not the same standard of living as 100K in Dallas. 2) Is there any adjustment for the fact that for some colleges a high percentage of 4 year degree holders go on to earn a graduate level degree. That could certainly be the case for the Pharmacy schools where I'd bet that many BS graduates go on to earn a Doctor of Pharmacy. You would end up comparing the NPV of a pharmacy degree with a BS from say CSU, San Jose.