of return that takes into account tuition, income taxes and forms of uncertainty. We also contrast estimates based on a …

. Most of the gaps in college attendance and delay are determined by early family factors. Children from better families and … with high ability earn higher returns to schooling. We find only a limited role for tuition policy or family income …

forecastable at the time students decide to go to college (heterogeneity) and components that are unforecastable. About 60% of …

complementarities in skill formation. Investments in the human capital of children should expand relative to investment in older workers …