The Fed's Vice Chairman Roger Ferguson on The Importance of Education--February 24, 2006: "Perhaps more indicative of the economic value of education, workers with college degrees earn an education premium, and that premium has risen over the past twenty-five years. Most economists have found that an additional year of schooling typically raises an individual's earning power between 8 and 15 percent. Recent studies show that four years of college boost earnings about 65 percent."
Mmm, qualitatively consistent to what many have been saying for years. I really do think everyone (and especially all students) should read (or risten to) Thomas Friedman's The World is Flat.