Abstract
Abstract Based on the Parnes data, the author analyzes how community college attendance shapes adult socioeconomic attainment among a homogeneous age population. The sample consists of young men and women ten years after high school graduation. Socioeconomic returns to level and kind of education are analyzed utilizing insights offered by human capital theory. Type of first college entered is a significant variable in analyzing differences in earning ability even when holding constant variation in ability, socioeconomic background and college goal The rate of return to each additional year of education for four-year college entrants is 7.9 percent; for community college entrants, 5.4 percent. Type of college entered is also a significant variable in analyzing differences in occupational status again holding constant all other variables in the model The average status of four-year college entrants' jobs is almost 12 points higher on the Duncan scale than those of community college entrants. Community college entrance entails a wage and occupational penalty early in the life cycle that outweighs the opportunity cost of first entering a four-year college.
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