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Exploring the Impact of College Education on Earnings and Success
The impact of college education on earnings varies based on race, with white and Asian individuals not experiencing a significant increase compared to Latinos and Black individuals who see a 30 to 40% increase. Despite this, the zip code of birth is the strongest predictor of income. The value of college lies in changing the environment and the comparison group, potentially shifting behaviors towards success. Being the first in the family to attend college can significantly alter the trajectory for future generations. Ultimately, the value of college depends on the individual's existing characteristics and circumstances.