Cost Benefit Model Development. Final Report.

Overview & Synopsis

A one-year cost benefit analysis study was conducted by a consortium of technical institutes, and two cost benefit models were developed and refined for evaluating benefits and costs of full-time vocational technical programs and aidable, noncredit adult education courses. The models were tested on a sample of nine full-time vocational technical programs and sixty-three adult education courses which reflected a cross-section of instructional areas in vocational technical education. Findings were that benefits from vocational technical education programs and aidable, noncredit education courses outweigh the costs of such courses for both the student and for society in general, with the cost benefit ratio being 2.7 to 1.00 for society and 2.17 to 1.00 for an individual student. Six recommendations were offered and included further research being done on the noneconomic costs and benefits of vocational technical education. (Results of the test programs are presented in this report, as well as the models. Correspondence and sample cost benefit and survey forms are appended.) (BL)