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Building the Stock of College-Educated Labor

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  • Susan Dynarski

Abstract

Half of college students drop out without completing a degree. This paper establishes a causal link between college costs and degree completion. I use quasi-experimental methodology to analyze two state scholarship programs. The programs increase the share of the exposed population with a college degree by three percentage points, with stronger effects among women. A cost-benefit analysis indicates that the programs are socially efficient at rates of return to schooling as low as 5 percent. Even with the offer of free tuition, many students continue to drop out, suggesting tuition costs are not the only impediment to college completion.

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File URL: http://jhr.uwpress.org/cgi/reprint/43/3/576
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Bibliographic Info

Article provided by University of Wisconsin Press in its journal Journal of Human Resources.

Volume (Year): 43 (2008)
Issue (Month): 3 ()
Pages: 576-610

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Handle: RePEc:uwp:jhriss:v:43:y:2008:i:3:p:576-610

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Web page: http://jhr.uwpress.org/

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References

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  1. Card, David & Krueger, Alan B, 1992. "Does School Quality Matter? Returns to Education and the Characteristics of Public Schools in the United States," Journal of Political Economy, University of Chicago Press, vol. 100(1), pages 1-40, February.
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  8. Dynarski, Susan, 2004. "The New Merit Aid," Working Paper Series rwp04-009, Harvard University, John F. Kennedy School of Government.
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