Raymond, Richard, and Michael Sesnowitz. 1975. "The Returns to Investments in Higher Education: Some New Evidence." Journal of Human Resources 10(2):139-154.

Census data for 1970 are used to generate age-income distributions by educational categories. After adjusting for such factors as growth and ability differentials, these distributions are used together with cost data to compute both private and social rates of return to investments in one and two and in three and four years of college. The results suggest that the rates of return have not decreased over the 1960s and that the return to those completing two-year programs may be much higher than previously thought.

Raymond is Associate Professor of Economics and Research Associate, Center for Urban Regionalism, Kent State University. Sesnowitz is Associate Professor of Economics, Kent State University. We would like to thank Donald Curran for useful comments on a first draft. Remaining errors are our own.

© 2003 by the Board of Regents of the University of Wisconsin System

US ISSN 0022-166X

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