We use the method of Dominitz and Manski [1996. Eliciting student expectations of the return to schooling. "Journal of Human Resources" 31, no. 1: 1-26] to solicit anticipated wage distributions for continuing to a master degree or going to work after completing the bachelor degree. The means of the distributions have an effect on…

Over the past year, a number of journals have reprised many of the questions plaguing higher education--providing a full year's worth of sleepless nights. While each of these issues justifies considerable dialogue and attention, the one issue on which parents, students, the public, and educators can agree is the importance--and the challenge--of…