Download The Economics of Investing in Universal Preschool Education by Lynn A. Karoly PDF

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By Lynn A. Karoly

Elevated curiosity in California and different states in supplying common entry to publicly funded preschool schooling is at the back of this study's goals to investigate the industrial returns from making an investment in top of the range preschool schooling in California.

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A program targeted at disadvantaged children would be expected to produce higher returns per dollar xxx The Economics of Investing in Universal Preschool Education in California invested than a universal program because the impacts of preschool are generally larger for at-risk children. However, there are disadvantages to targeted programs: administrative costs of determining eligibility and addressing changes in eligibility over time, stigma associated with participation, unavoidability of missing some children who could benefit but do not meet the criteria or are confused about eligibility rules.

One Year or Two. Some high-quality preschool programs, including the Chicago CPC, have served children for more than one year. It appears from evidence collected to date that the second year generates smaller benefits than what is gained from the first year. In other words, benefit-cost analyses show a higher return per dollar invested for a one-year program than for a two-year program. This suggests that, when resources are limited, it is more beneficial to serve a greater number of children in a high-quality one-year program rather than serving a smaller number of children for two years.

Effects on benefits and costs are possible but of unknown extent. Summary xxxi Extending the Investment in Public Education For a variety of reasons, public-sector investments in K–12 education have been justified as a critical investment in human capital with longterm benefits at the individual and societal levels. Notably, the investment made today at the K–12 level is a universal benefit available to all children, regardless of the ability of their families to finance the educational investment privately.

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