How much is that hons degree??

Haven been posting on this blog for quite some time now......
well basically i have been busy with my studies in uni with all the tutorials and tests....
so it sets me thinking how much is a degree worth???

Lets analyze the cost of getting a degree....

firstly lets calculate the 'accounting' cost

1) for singaporeans we are paying a tuition fee averaging $6000 per academic year.
2) in addition to tuition fee, there are those miscellaneous fees as well, lets cap it at $250 per academic year.
3) daily travelling at $50 per month for 8 months
4) daily expenses at $50 per month for 8 months

In total = $7300 per academic year for 4 years
= $29 200

Next, considering the opportunity cost

before i went into uni, i was earning an average of $1200 a month. Assuming i remain in the job for 4 years without an increment in pay = $57 600

Total cost for an engineering degree with honours = $86 800

this calculation is based on the following assumptions
1) the uni does not increase its school or misc fees
2) does not take into account the interest rates of the economy throughout the 4 years
3) negligible inflation rate
4) Transport companies does not increase the fare

Conclusion:
Based on this calculation with very glaring assumptions, the cost of an hons degree amounts to a significant sum and in reality, it is extremely likely to be even higher than the calculated value.
However, do note that even though it is pricely to obtain a degree, one without degree will lose out in the long run. We shall discuss this some other time =)