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ERIC Number: ED015247
Record Type: RIE
Publication Date: 1966-Jul
Pages: 57
Abstractor: N/A
Reference Count: 0
ISBN: N/A
ISSN: N/A
COSTS AND RETURNS OF TECHNICAL EDUCATION, A PILOT STUDY.
CARROLL, ADGER B.; IHNEN, LOREN A.
THE OBJECTIVES OF THIS STUDY WERE (1) TO OBTAIN ESTIMATES OF COSTS AND RETURNS OF TECHNICAL EDUCATION, (2) TO COMPUTE SOCIAL AND PRIVATE RATES OF RETURN ON INVESTMENTS IN TECHNICAL EDUCATION, AND (3) TO COMPARE THESE WITH ESTIMATES OF THE RATE OF RETURN ON GENERAL EDUCATION AND INVESTMENTS IN TANGIBLE CAPITAL. COSTS AND RETURNS WERE MEASURED BY COMPARING EARNINGS OF A GROUP OF 45 WHITE MALE GASTON TECHNICAL SCHOOL GRADUATES WITH EARNINGS FOR A GROUP OF 45 WHITE MALE HIGH SCHOOL GRADUATES HAVING SIMILAR CHARACTERISTICS. THE COMPARISON COVERED A 7-YEAR PERIOD. THE ESTIMATED AVERAGE TOTAL COST TO SOCIETY FOR THE TWO YEARS OF TECHNICAL EDUCATION WAS $7,425 PER STUDENT WHICH INCLUDED $5,197 FOR LOSS IN PRODUCTIVITY WHILE IN SCHOOL AND $2,228 FOR COSTS OF PROVIDING SCHOOL FACILITIES, SUPPLIES, AND PERSONNEL. THE AVERAGE TOTAL PRIVATE COST PER STUDENT FOR THE TWO YEARS OF TECHNICAL SCHOOLING AMOUNTED TO $4,920. THE AVERAGE ANNUAL INCOME FROM INVESTMENT IN TECHNICAL EDUCATION INCREASED FROM $553 IN THE FIRST YEAR AFTER SCHOOLING TO $1,036 IN THE FOURTH POST-GRADUATE YEAR. THE ESTIMATED SOCIAL RATE OF RETURN ON INVESTMENTS IN TECHNICAL EDUCATION WAS 16.5 PERCENT AND THE PRIVATE RATE, 22 PERCENT, ASSUMING THAT PER CAPITA REAL EARNINGS WOULD INCREASE OVER TIME AT THE RATE OF 2 PERCENT PER ANNUM. (PA)
Publication Type: N/A
Education Level: N/A
Audience: N/A
Language: N/A
Sponsor: N/A
Authoring Institution: North Carolina State Univ., Raleigh.
Identifiers: NORTH CAROLINA