The old "nature versus nurture" argument has resurfaced in a new guise--the role of inherent ability or of education as the source of skill and the reason for achievement. Research shows that even one additional year of schooling raises a person's wages. Even when the relationship among education, productivity, and wages appears obvious, there is evidence for two arguments. The screening argument holds that investments in education reveal the job-relevant abilities and skills that students already possess--stopping some while allowing others to pass through the mesh. The human capital model argues that skills are acquired through investment in education, which adds to the overall volume of ability. Driving this debate is the notion of the returns provided both to the individual and society by educational attainment. However, structural changes in the economy, changes in policy, and shifts in demographics illustrate how societal trends contribute to the fluctuations in returns to education. Recommendations to find the most effective location for educational attainment include the following: developing better means of determining job-relevant abilities, encouraging business-school networks, increasing retention and educational attainment, and making educational loans and financial aid more accessible to students for whom investment in educational attainment shows real promise. (YLB)