What investment equation do I need? Investment / personal money question?

I need to do a calculation to see if going back to school for an degree is worth it. Specifically, I need to analyze: -When I will be able to make the money back -When my investment will turn into income -How my debt will factor in to current debt -What this means practically for me over the next 10 years I would... show more I need to do a calculation to see if going back to school for an degree is worth it. Specifically, I need to analyze:

-When I will be able to make the money back
-When my investment will turn into income
-How my debt will factor in to current debt
-What this means practically for me over the next 10 years

I would prefer an equation, because that way I can apply it as my choice of graduate school changes.

Here is the information:

Program Cost: 40,000
Program Duration: 2.5 years
My current debt payment: $330 a month, due over next 6.5 years
My current "extra" income: $300 a month
Expected increase in income in 5 years: $200 more a month
Expected increase in income in 8 years: $400 more a month

What equation will help me calculate and think about this?

Thanks!
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