Final answer:
The opportunity cost of going to college encompasses the value of the forgone alternatives such as lost earnings from not working during that time, in addition to the out-of-pocket expenses like tuition and books.
Step-by-step explanation:
The opportunity cost of going to college is the value of the alternative choices that you gave up to attend school. For example, the opportunity cost would be the income you could have earned if you had worked a full-time job instead of pursuing higher education. Attending college entails not only the direct costs of tuition, books, room, and board, but also the lost earnings during the time spent in classes and studying. This highlights that a significant opportunity cost of attending college is the value of the forgone earnings or other activities you could have engaged in during that time.