text. B. Opportunity Cost Use the following information to determine how long it takes for additional years in school to pay off financially: It takes most people about eight years to obtain a doctorate degree. People who earn such a degree will pay about $25,000 per year in tuition. Their opportunity cost in lost wages will average about $20,000 a year, and their time income will average $80,000 a year for 40 years. However, if they stop their education after four years of college, their income will average $50,000 a year for 44 years. If they do not go to college, they will earn an average of $20,000 per year for about 50 years. Years before Additional Education Pays Off