Higher education sentences to ponder – Marginal REVOLUTION
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We find that the WTP [willingness to pay] for in-person instruction (relative to a remote format) represents around 4.2% of the average annual net cost of attending university, while the WTP for on-campus social activities is 8.1% of the average annual net costs. We also find large heterogeneity in WTP, which varies systematically across socioeconomic groups. Our analysis shows that economically-disadvantaged students derive substantially lower value from university social life, but this is primarily due to time and resource constraints.