Volume : 8, Issue : 9, SEP 2022

A REVIEW OF RESEARCH ON THE RETURNS TO HIGHER EDUCATION

WELFREDO JR. L. YU, MA. ED, JOSE BONIE C. CABEZARES, MA. ED, SHERYL A. EMLANO, MA. ED, REY C. ENRIQUEZ, MA.ED, ERNIE T. GALEZA, MA. ED, MARILYN M. MIRANDA, ED.D

Abstract

A limited number of studies have been conducted to investigate the prevalence of return to distance learning in various academic fields. This journal analyzed the return on investment of obtaining a higher education through distance learning across a variety of fields in the chosen area by employing qualitative research methods, data from a variety of related studies, and earnings functions. The rate of return based on earnings as well as non-monetary private and social benefits in addition to earnings is what is known as the total return to higher education. This rate of return captures the higher education's contribution to development. This rate would be lower in an economy that did not have these negative externalities. Because the private non-market and social benefit externalities that are measured are positive, it can be concluded that externalities contribute to higher per capita development. The opportunity cost of funds and the return on physical capital are both estimated to be lower than the total return, which is estimated to be significantly higher. This is the first major evidence of serious underinvestment in higher education in the Philippines for optimal development.

Keywords

RATE OF RETURN, HIGHER EDUCATION, ECONOMY, AND DEVELOPMENT.

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