Lots of research done on this by Bryan Caplan (Princeton) [1], the TLDR is return on a degree is mostly signaling. [1]https://en.m.wikipedia.org/wiki/The_Case_

Lots of research done on this by Bryan Caplan (Princeton) [1], the TLDR is return on a degree is mostly signaling. [1]https://en.m.wikipedia.org/wiki/The_Case_Against_Education https://en.m.wikipedia.org/wiki/The_Case_Against_Education P.S. Signaling is very profitable for the individual benefitting from the signaling, it just isn't good for society.