[quote=bearishgurl]
Your road-warrior friend (over 50) did NOT take out any student loans to get his Ph.D (which costs $50K-$100K to obtain). [/quote]
Is this opportunity cost? I’m unaware of any reputable PhD program in which the candidate pays for the doctorate. Although perhaps I’m just thinking of the business/economics/finance/science/engineering areas. Generally, the candidate receives a stipend to teach undergrads and assist professors with research. Maybe folks pay for PhDs in certain liberal arts subjects.
