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Abstract: Since 1960, the Cameroon Government has invested very heavily in Cameroon’s educational system –nursery through to higher education level. There has been pressure on the government to put more emphasis on the primary level rather than on tertiary level. The paper’s findings strongly suggest that emphasis should be on all the educational levels, and more so, on the tertiary level. The conclusion is drawn from the earnings function model from which estimates are brought out on the average rate of return to education with the marginal return referring to additional year of education at the different levels. 1