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Are college costs worth it? How ability, major, and debt affect the returns to schooling

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  • Webber, Douglas A.

Abstract

This paper examines the financial value over the course of a lifetime of pursuing a college degree under a variety of different settings (e.g. major, student loan debt, individual ability). I account for ability/selection bias and the probability that entering freshmen will not eventually graduate.

Suggested Citation

  • Webber, Douglas A., 2016. "Are college costs worth it? How ability, major, and debt affect the returns to schooling," Economics of Education Review, Elsevier, vol. 53(C), pages 296-310.
    • Handle: RePEc:eee:ecoedu:v:53:y:2016:i:c:p:296-310
    DOI: 10.1016/j.econedurev.2016.04.007
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    More about this item

    Keywords

    Student loans; Returns to education; College major;
    All these keywords.

    JEL classification:

    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • I26 - Health, Education, and Welfare - - Education - - - Returns to Education

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