Para1:ArousingthequestionQ:Whatquestiondoestheauthorraisehere?A:Whetheritisworthpaying$125,000togivechildrenaneducationataneliteprivateUniversity?What’syourchoice?Why?*That’swhencollegesfloodthepostalsystemwithnewsofwhohaswonaplaceinnextfall’sfreshmanclass.flood—fillsthinlargequantity,crowd.*boomerparents:“boombaby”,“boomer”forshort.*BabyboomGeneration(BoomGeneration)1946-1966Hippies(20centurylate60s):(flowerchildren/people)YuppiesGeneration*MissionaryGeneration:(bornin19century60s)*LostGeneration(popularin20century20s)*GIGeneration(bornin1901-1924):（GI:governmentissue）*Silent/SilenceGenerationPara3.supportingandcounterevidenceBetterUniversity/Greaterinvestment–whetherworthit:dilemmaPara6:Researchlimitations:Thestudies(para5)donotmeasurehowanindividual’searningsareaffectedbythechoiceofcollege.*selectiveschoolsSupposedResearchQuestion:IfstudentXgetsinto,say,AmherstandMichiganState,andchoosetogotoMichiganState,willXbeshutoutofAmherst-styleearningpotential?Relatedresearch:lookingatstudentswithsimilarSATscoreswhoattendeddifferentkindsofschools.Let’sseeavideoclipCompletetheformbelow(para8-13)ResearchconductedbyKruegerandDaleResearchconductedbyHoxby2.1&2.2Subjectandmethodology(para12):placedseveralhundredschoolsineightranksbasedontheSATscoresoftheirstudents.lookedatstudentswhoenteredthesecollegesin1960,1973,and1982,thenexaminedtheirearningsatage32.Thedifferencebetweenthetworesearches.controlledforSATscoresbycomparingstudentswithsimilarscoresfromdifferentcolleges;shedidnotcontrolforunobservedcharacteristicsasKruegerandDaletriedto.2.3Findings(para13)Finding(1)Using1997-98tuitionfigures,HoxbyconcludedthatastudentwhogaveupafullscholarshipataRankThreeprivatecollege(averageSATs:90thpercentileinverbal,86thinmath)topayfullpriceataRankOneselectivecollege(averageSATs:96thpercentileinverbal,86thinmath)earnedbackthedifferenceincost3.4timesoverhislifetime.Finding(2)ThestudentswhomovedfrompayingextraaveragetuitionataRankThreepubliccollegetopayingaverag