A study examined decisions involving private, postsecondary vocational schooling using three large, national sets of data (from the National Longitudinal Surveys) on males. Particular attention is paid to three target groups--inner-city and rural individuals and dropouts. Various equations were estimated using a life-cycle model of time allocation to market work, college, and vocational schooling. Empirical results indicate that persons who took very short programs in private vocational schools (less than three full-time-equivalent months) earn more than persons who didn't train but that this advantage decreases and eventually reverses for longer programs. Estimated dropout penalties are insignificant for all but inner-city youths. Dropout rates from private vocational schools are high, and dropping out appears to be an important method of choosing program length. Other results indicate that persons with poor socioeconomic backgrounds and high IQs take private vocational schooling. Also, during the time they attend private vocational schools, students get higher paying jobs than similar non-trainees. Current governmental policies encourage much longer programs in private vocational schools than appear to be justified by this study. Inner city youths in particular should be encouraged to take and complete short programs, since their estimated dropout penalty is large. (A more complete technical report is also available--see note.) (JT)