|Benefit-Cost Summary Statistics Per Participant|
|Taxpayers||$13,510||Benefits minus costs||$34,424|
|Participants||$19,730||Benefit to cost ratio||$5.74|
|Others||$10,144||Chance the program will produce|
|Indirect||($1,700)||benefits greater than the costs||89 %|
|Net program cost||($7,260)|
|Benefits minus cost||$34,424|
|Detailed Monetary Benefit Estimates Per Participant|
|Benefits from changes to:1||Benefits to:|
|Labor market earnings associated with high school graduation||$8,798||$19,373||$8,851||$0||$37,022|
|K-12 grade repetition||$291||$0||$0||$145||$436|
|K-12 special education||$825||$0||$0||$415||$1,240|
|Health care associated with educational attainment||$2,131||($581)||($2,311)||$1,067||$307|
|Costs of higher education||($1,197)||($1,012)||($331)||($599)||($3,137)|
|From secondary participant|
|Labor market earnings associated with employment||$885||$1,950||$0||$0||$2,835|
|Adjustment for deadweight cost of program||$0||$0||$0||($3,619)||($3,619)|
|Detailed Annual Cost Estimates Per Participant|
|Annual cost||Year dollars||Summary|
|Program costs||$6,934||2012||Present value of net program costs (in 2016 dollars)||($7,260)|
|Comparison costs||$961||2012||Cost range (+ or -)||10 %|
|Estimated Cumulative Net Benefits Over Time (Non-Discounted Dollars)|
|The graph above illustrates the estimated cumulative net benefits per-participant for the first fifty years beyond the initial investment in the program. We present these cash flows in non-discounted dollars to simplify the “break-even” point from a budgeting perspective. If the dollars are negative (bars below $0 line), the cumulative benefits do not outweigh the cost of the program up to that point in time. The program breaks even when the dollars reach $0. At this point, the total benefits to participants, taxpayers, and others, are equal to the cost of the program. If the dollars are above $0, the benefits of the program exceed the initial investment.|
|Meta-Analysis of Program Effects|
|Outcomes measured||Primary or secondary participant||No. of effect sizes||Treatment N||Adjusted effect sizes (ES) and standard errors (SE) used in the benefit-cost analysis||Unadjusted effect size (random effects model)|
|First time ES is estimated||Second time ES is estimated|
|K-12 grade repetition||Primary||4||2023||-0.351||0.068||12||-0.351||0.068||12||-0.351||0.001|
|High school graduation||Primary||2||1184||0.231||0.091||21||0.231||0.091||21||0.231||0.011|
|K-12 special education||Primary||3||1670||-0.118||0.193||14||-0.118||0.193||14||-0.118||0.544|
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