Direct costs: tuition, books and school supplies

Opportunity cost: other income forgone by attending college

Psychological Cost: The Psychological Stress of Going to College

The longer the incremental income stream after investment, the greater the likelihood of attending college

The lower the cost of going to college, the more people go to college.

The greater the wage gap between college graduates and high school graduates, the more people are willing to invest in college education.

The higher the discount rate (the extent to which the actual value is discounted), the less likely you are to give up immediate benefits and the less likely you are to go to college.

Marginal returns are diminishing, and the marginal cost of investment in college education remains unchanged for each additional year.

Ability bias, overestimating the benefits a person can gain from investing in education

The private benefits generated by education, especially higher education, have been reduced

Overestimating the benefits of not going to college and feeling like giving up going to college, and underestimating the actual benefits that college graduates get from going to college

Companies select people based on some signs or characteristics, including age, experience, and education, which are called signals

Higher education is a signal of high productivity

Using university diplomas as a selection tool is a good way for companies to simply and clearly predict with higher accuracy

Pay trainees’ salaries and teachers’ lecture fees

Pay for renting training venues and training equipment

The company’s teachers, venues, and equipment should also be included in the training costs

It takes a certain amount of time for current employees to participate in training, and losses caused by leaving get off work early or taking leave

Unable to work at full capacity, causing certain losses to the company's production and work

Opportunity cost of using machines or experienced workers for training or

Mainly reflected in the improvement of trainee productivity

It takes a while to show up

Employees bear the responsibility and the employees themselves benefit

It does not necessarily require direct payment, and may only enjoy a lower wage rate than without training.

Enterprises and employees share costs

Enterprises and employees share the benefits (after training)

Voluntary mobility: upward mobility

Involuntary mobility: upward or horizontal mobility will also be pursued, but there will be downward mobility.

Overall, upward mobility accounts for a large proportion of

Career transfers between family generations