As the number of years of schooling completed increases, the expected private return and private cost of education

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As the number of years of schooling completed increases, the expected private return increases at a faster rate than private cost. This is because as individuals acquire more education, they become more productive and are able to earn higher wages in the labor market, resulting in a higher expected private return. However, the private cost of education may increase at a slower rate than the expected private return due to factors such as scholarships, grants, and other forms of financial aid that can help offset the cost of education.

As the Number of Years of Schooling Completed Increases, the Expected