Objective: This study examines the labor market gains for students who enrolled at for-profit colleges after beginning their postsecondary education in community college. Method: We use student-level administrative record data from college transcripts, unemployment insurance earnings data, and progression data from the National Student Clearinghouse across full entry cohorts of community college students in two statewide systems between 2001 and 2006. Using regression analysis and fixed effect methods, we calculate the wage gains to attainment across different student transfer patterns. Results: We find significant wage penalties to transfer to a for-profit college instead of to a public or private nonprofit college. For some student groups, earnings are higher if they drop out of community college instead of transferring to a for-profit college. Conclusion: Students in for-profit colleges do have lower opportunity costs in terms of foregone earnings while enrolled in college. However, these do not sufficiently compensate for lower earnings growth after college.

中文翻译：

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劳动力市场回归营利性高等教育：转学生的证据

目标：本研究调查了在社区大学开始中学后教育后就读于营利性大学的学生的劳动力市场收益。方法：我们使用 2001 年至 2006 年期间两个全州系统中来自全国学生信息交换所的大学成绩单、失业保险收入数据和升学数据中的学生级行政记录数据。使用回归分析和固定效应方法，我们计算了不同学生转学模式的工资收益。结果：我们发现转学到营利性大学而不是公立或私立非营利性大学会受到严重的工资处罚。对于一些学生群体来说，如果他们从社区大学辍学而不是转学到营利性大学，他们的收入会更高。结论：营利性大学的学生在就读大学期间的收入方面确实具有较低的机会成本。然而，这些不足以弥补大学毕业后较低的收入增长。