Two contrasting hypotheses about the effects of community colleges--the view that these institutions "cool out" those who might attend four-year colleges, and the view that they increase schooling for students who would otherwise have no access to higher education--are presented. A model of educational attainment is discussed. (Author/MLW)

National data reveal postsecondary students in proprietary schools and vocational education are much more likely than others to receive financial aid, and community college students are much less likely. Because of community college student sensitivity to costs and because evidence indicates aid is effective in two-year colleges, the pattern is…

Based on data from the National Longitudinal Study of the Class of 1972, this study confirmed the financial value of the baccalaureate degree, in comparison with the high school diploma, and well-known differences in income to graduates by field of study. Differences by type of higher education institution were relatively smaller. (Author/MSE)

New data on the economic benefits of attainment of a bachelor's degree, based on some corrections in statistical analyses of national longitudinal data, are reported. Results and conclusions did not change substantially, with substantial variations found among fields of study but not across institution types. (MSE)