|Benefit-Cost Summary Statistics Per Participant|
|Taxpayers||$4,193||Benefits minus costs||$9,523|
|Participants||$7,144||Benefit to cost ratio||$3.92|
|Others||$2,783||Chance the program will produce|
|Indirect||($1,337)||benefits greater than the costs||66 %|
|Net program cost||($3,260)|
|Benefits minus cost||$9,523|
|Detailed Monetary Benefit Estimates Per Participant|
|Benefits from changes to:1||Benefits to:|
|Labor market earnings associated with high school graduation||$3,614||$7,958||$3,659||$0||$15,232|
|K-12 grade repetition||$0||$0||$0||$0||$0|
|Property loss associated with alcohol abuse or dependence||$0||$1||$1||$0||$2|
|Health care associated with educational attainment||$863||($236)||($944)||$431||$114|
|Costs of higher education||($384)||($579)||($178)||($192)||($1,334)|
|Adjustment for deadweight cost of program||$0||$0||$0||($1,626)||($1,626)|
|Detailed Annual Cost Estimates Per Participant|
|Annual cost||Year dollars||Summary|
|Program costs||$2,748||2005||Present value of net program costs (in 2015 dollars)||($3,260)|
|Comparison costs||$0||2005||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||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||2||758||0.101||0.143||18||0.101||0.143||18||0.293||0.040|
|Cannabis use before end of middle school||1||76||-0.081||0.224||14||-0.081||0.224||24||-0.260||0.246|
|Alcohol use before end of middle school||1||76||-0.037||0.224||14||-0.037||0.224||24||-0.119||0.596|
|Grade point average||5||1157||0.077||0.043||14||0.077||0.043||14||0.095||0.028|
|Smoking in high school||1||43||-0.212||0.223||17||-0.212||0.223||18||-0.212||0.343|
|Illicit drug use in high school||1||43||-0.352||0.224||17||-0.352||0.224||18||-0.352||0.117|
|Major depressive disorder||1||348||-0.140||0.076||14||0.000||0.013||15||-0.140||0.066|
|Illicit drug use before end of middle school||2||722||-0.379||0.137||14||-0.379||0.137||15||-0.390||0.004|
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