A short news item on the front page of the Wall Street Journal 11-14-96
stated (as paraphrased):
An economist at the Univ. of Illinois, W. Randall Kangas, has calculated
the return to the state on its investment in higher education. For every
dollar the state invests in undergraduates at the Univ of IL, the state
gets back $4.31 in taxes over time. His study is based on the earnings
gap between college and high school graduates. The college graduates
greater earning capability results in the state receiving more taxes on
the higher income. This translates to a 6% real return on investment for
the state.