The Pie: An Economics Podcast
Is College Worth It? Measuring the Returns to Higher Education
May 14, 2024
Economist Jack Mountjoy from the University of Chicago discusses the returns of higher education. He examines the impact of college choices on student trajectories, cost-benefit analysis of enrolling academically marginal students, and the value of college education for these students, highlighting earnings, dropout rates, and societal benefits.
26:27
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Quick takeaways
- Admitting academically marginal students to public universities leads to higher earnings and educational attainment.
- Public perception of college value has shifted due to concerns about affordability and student loan debt.
Deep dives
College Attendance and Student Outcomes
Research suggests that even academically marginal students who barely get admitted to public universities experience positive outcomes. Compared to similar students who barely miss the cutoff, those admitted are more likely to earn a bachelor's degree, complete additional education, and earn 5% to 10% more income 10 to 15 years later.
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