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Free Community College Pays For Itself, New NBER Study Finds
A new NBER working paper finds that Tennessee Promise, the nation’s first statewide free community college program, increased college enrollment, boosted degree completion, raised early-career earnings, and generated enough new tax revenue to more than cover its cost. The researchers estimate the program’s marginal value of public funds is infinite, meaning every public dollar spent produced positive benefits at no net cost to the government.
The study, from economists at the University of Tennessee, Saint Mary’s College of California, and the Tennessee Office of Evidence and Impact, tracks…
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