ERIC Number: ED078774
Record Type: RIE
Publication Date: 1973-Apr
Reference Count: 0
Schooling and Subsequent Success: Influence of Ability, Background, and Formal Education.
Solomon, L. C.
The first section of this paper serves to define the various types of costs and benefits of higher education. It differentiates between private and social costs and benefits, as well as between monetary and nonmonetary costs and benefits. It is further argued that we must look at costs and benefits that arise not only during or immediately after the schooling experience but also at those that arise later. The work on the impact of higher education to date is reviewed. An attempt is made to relate the results from a few studies of lower levels of education to those dealing with college. The next section focuses on recent work of the author, in which he attempts to define measures of college quality and introduce them into an earning function. It appears that both quantity and quality of schooling are important factors to explain lifetime income patterns of individuals, even after controlling for the individual's innate ability. The two most significant measures of quality in a statistical sense are average SAT scores of entering freshmen and average faculty salary. It appears that these two factors have independent influences on lifetime earnings. A 43-item bibliography is included. (Author/MJM)
Descriptors: Aspiration, Career Opportunities, Costs, Economic Status, Educational Background, Educational Benefits, Educational Finance, Educational Quality, Failure, Higher Education, Income, Rewards, Social Mobility, Socioeconomic Status, Success
Publication and Information Services Division, The American College Testing Program, P.O. Box 168, Iowa City, Iowa 52240 ($1.00)
Publication Type: N/A
Education Level: N/A
Authoring Institution: American Coll. Testing Program, Iowa City, IA. Research and Development Div.