Abstract

In this study, we provide updated estimates of the private and social financial return on enrolling in a master’s degree program in the United States. In addition to returns for all fields of study, we show estimated returns to enrolling in master’s degree programs in business and education, specifically. We also conduct a sensitivity analysis to show how our findings are affected by several key assumptions in the model such as the assumed growth rates of earnings, the direct and indirect costs faced by students, and the age at which a person enrolls in a master’s program. Our findings indicate that, on average, students who enroll in master’s degree programs receive positive and substantial financial returns, with variation by age, probability of completion, and financing characteristics.

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Additional Information

ISSN
1944-6470
Print ISSN
0098-9495
Pages
pp. 21-44
Launched on MUSE
2017-11-29
Open Access
N
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