The economic burden of higher education and its impacts on post-college income outcomes are addressed in this dissertation, especially with respect to institutional variances and the choice of students. Using data from the National Longitudinal Survey of Youth 1997 (NLSY97), the analysis closely combines detailed data on educational costs and financing with longitudinal information on people’s income trajectories following entry into the labor market. This empirical analysis examines the economic benefits of higher education based on income outcomes - the main outcome of college attending - and the total cost of attending university. To pursue this, the study develops multivariate regression models correlating post-college income to educational investment, measured in net cost and student debt, controlling for demographic and personal family characteristics.