I think we&#x27;re both wrong, but I think you&#x27;re wronger than I am.<p>Yes, it&#x27;s true that N times spent on tuition does not equal N times more money in an absolute sense because the baseline income for spending zero on tuition is not zero.<p>However, the article said that the ROI on tuition was 12% annualized, which means that you&#x27;re not reinvesting the proceeds.  If you reinvest the proceeds, then that is additional return <i>on top</i> of the 12%.<p>But the details are not really relevant.  What matters is that the headline is wrong.  Where you do to school <i>does</i> matter.