|Benefit-Cost Summary Statistics Per Participant|
|Taxpayers||$4,248||Benefits minus costs||$18,151|
|Participants||$9,644||Benefit to cost ratio||$189.73|
|Others||$4,852||Chance the program will produce|
|Indirect||($497)||benefits greater than the costs||89 %|
|Net program cost||($96)|
|Benefits minus cost||$18,151|
|Detailed Monetary Benefit Estimates Per Participant|
|Benefits from changes to:1||Benefits to:|
|Labor market earnings associated with higher education||$5,146||$11,331||$5,382||$0||$21,859|
|Costs of higher education||($898)||($1,688)||($530)||($448)||($3,563)|
|Adjustment for deadweight cost of program||$0||$0||$0||($48)||($48)|
|Detailed Annual Cost Estimates Per Participant|
|Annual cost||Year dollars||Summary|
|Program costs||$87||2009||Present value of net program costs (in 2016 dollars)||($96)|
|Comparison costs||$0||2009||Cost range (+ or -)||20 %|
|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||Treatment Age||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|
|Enroll in 2-year college||18||2||1015||-0.026||0.072||18||-0.026||0.072||18||-0.026||0.721|
|Enroll in 4-year college||18||2||1015||0.118||0.053||18||0.118||0.053||18||0.118||0.025|
|Enroll in any college^||18||5||4697||0.102||0.033||18||0.102||0.033||18||0.137||0.030|
Castleman, B.L., & Page, L.C. (2015). Summer nudging: Can personalized text messages and peer mentor outreach increase college going among low-income high school graduates? Journal of Economic Behavior & Organization, 115(3), 144-160.
Castleman, B.L., Arnold, K., & Wartman, K.L. (2012). Stemming the tide of summer melt: An experimental study of the effects of post-high school summer intervention on low-income students’ college enrollment. Journal of Research on Educational Effectiveness, 5(1), 1-17.
Castleman, B.L., Page, L.C., & Schooley, K. (2014). The forgotten summer: Does the offer of college counseling after high school mitigate summer melt among college-intending, low-income high school graduates? Journal of Policy Analysis and Management, 33(2), 320-344.
Castleman, B.L., Owen, L., & Page, L.C. (2015). Stay late or start early? Experimental evidence on the benefits of college matriculation support from high schools versus colleges. Economics of Education Review, 47, 168-179.
Daugherty, L. (2012). Summer Link: A counseling intervention to address the transition from high school to college in a large urban district. Paper presented at the 2012 Fall Conference of the Association for Public Policy Analysis and Management, Baltimore, MD.