|Benefit-Cost Summary Statistics Per Participant|
|Taxpayers||$11,868||Benefits minus costs||$29,044|
|Participants||$17,779||Benefit to cost ratio||$5.05|
|Others||$8,603||Chance the program will produce|
|Indirect||($2,038)||benefits greater than the costs||92 %|
|Net program cost||($7,168)|
|Benefits minus cost||$29,044|
|Detailed Monetary Benefit Estimates Per Participant|
|Benefits from changes to:1||Benefits to:|
|Labor market earnings associated with high school graduation||$8,786||$19,346||$8,861||$0||$36,993|
|K-12 grade repetition||$288||$0||$0||$143||$431|
|K-12 special education||$818||$0||$0||$404||$1,222|
|Health care associated with educational attainment||$2,116||($577)||($2,297)||$1,049||$291|
|Costs of higher education||($1,172)||($992)||($371)||($582)||($3,116)|
|Adjustment for deadweight cost of program||$0||$1||$0||($3,564)||($3,563)|
|Detailed Annual Cost Estimates Per Participant|
|Annual cost||Year dollars||Summary|
|Program costs||$6,934||2012||Present value of net program costs (in 2015 dollars)||($7,168)|
|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|
|High school graduation||Primary||2||1184||0.231||0.091||21||0.231||0.091||21||0.231||0.011|
|K-12 grade repetition||Primary||4||2023||-0.351||0.068||12||-0.351||0.068||12||-0.351||0.001|
|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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