|Benefit-Cost Summary Statistics Per Participant|
|Taxpayers||$13,501||Benefits minus costs||$34,398|
|Participants||$19,721||Benefit to cost ratio||$5.74|
|Others||$10,142||Chance the program will produce|
|Indirect||($1,707)||benefits greater than the costs||90 %|
|Net program cost||($7,259)|
|Benefits minus cost||$34,398|
|Detailed Monetary Benefit Estimates Per Participant|
|Benefits from changes to:1||Benefits to:|
|Labor market earnings associated with high school graduation||$8,794||$19,365||$8,860||$0||$37,020|
|K-12 grade repetition||$290||$0||$0||$144||$434|
|K-12 special education||$819||$0||$0||$408||$1,227|
|Health care associated with educational attainment||$2,123||($578)||($2,303)||$1,057||$299|
|Costs of higher education||($1,186)||($1,003)||($328)||($591)||($3,108)|
|From secondary participant|
|Labor market earnings associated with employment||$879||$1,936||$0||$0||$2,815|
|Adjustment for deadweight cost of program||$0||$0||$0||($3,611)||($3,611)|
|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)||($7,259)|
|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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