The remainder of this chapter proceeds as follows: in
Section 2, I discuss the evolution of federal welfare policy towards
human capital development as well as research findings
on the returns to the two-year sector of higher education.
Section 3 discusses my data and presents descriptive
results, while Section 4 describes my empirical approach. In
Section 5, I present estimates of the impact of community
college credits and credentials on labor market outcomes.
Section 6 discusses my estimates of the private returns to
community college over the short- and medium-run and 7
concludes.