Rate of Return on Education of the Bachelor Degree in the Faculty of Education and Educational Innovation, Kalasin University

Abstract

The objective of this study is to analyze the private rate of return to investment in education of Bachelor Degrees in the faculty of education and educational innovation, Kalasin University. As information for choosing a university, the results of the study may be used by those who are interested in furthering their education in the faculty of education and educational innovation, Kalasin University. The primary data were collected from interviewing 340 students in the academic year 2018-2021. And the secondary data were from other sources and related studies. In the analysis of economic costs and returns for investment in education, By means of the net present value (NPV), the benefit-cost ratio (B/R) and the internal rate of return (IRR). The study has found that the private rate of return to investment in education of Bachelor Degrees in the faculty of education and educational innovation, Kalasin University was cost-effective. It is also found that under the possible changing conditions that (1) the cost of education was assumed to increase which may be because the cost of graduate production was higher, and/or (2) the benefits expected to obtain from work were assumed to decrease which may be because of the competition among education institutes to produce graduates in response to the job markets demand, the private rate of return to investment in education in the faculty of education and educational innovation, Kalasin University was still cost-effective. Those who are interested in continuing their education in the faculty of education and educational innovation, Kalasin University not only need to be qualified for the universities entrance examination, but also have sufficient financial support to receive this high cost educational services.