If a student decides to spend a year traveling instead of attending college, what is the opportunity cost of their decision?

Opportunity cost is the value of what you give up when you make a choice. In this case, if a student decides to travel for a year instead of going to college, the opportunity cost includes the education they miss out on, which could lead to better job opportunities in the future. Additionally, they might lose the chance to build connections with professors and classmates that could help in their career later. For example, if the student could have earned a degree that leads to a job paying $50,000 a year, that potential income is part of the opportunity cost of their decision to travel. So, while traveling might be enriching, it’s important to consider what they are giving up in terms of education and future earnings.