[ineedasername]

Except the income for just a HS degree has also gone down. This chart (https://en.wikipedia.org/wiki/Educational_attainment_in_the_...) shows that, at least as of 2016 and in 2016-adjusted dollars, those with just a HS degree are making less than they did at that time too.

At the same time, earning for > Bachelors degrees has continued to rise (https://ourworldindata.org/uploads/2013/07/ourworldindata_ch...) suggesting that, as others here have noted, the ubiquity of college has driven the marketplace to reward higher degrees in the way that it once rewarded a bachelors. Although that's probably a bad thing from the perspective of student debt, since it means students will need to attend school even longer at higher cost to compete.

[greedo]

My cousin teaches kindergarten in some of LA's worst neighborhoods. The only way for her to get a raise is through higher degrees. So now she has two Master's degrees. I'm sure that it's cost-effective for her to do that, but are two Master's really needed for someone who's not intending to climb the administrative ladder?

[ineedasername]

Other states are even worse. In New York, teachers are required to get a Masters degree within 5 years.