“…Simply put, each individual must weigh the costs (measured in monetary terms as well as time and opportunity costs) of college against the expected lifetime dividends. Rational choice theory has been used to explore a number of factors within the higher education literature, including issues of persistence (McPherson & Schapiro, 1998;Massy, 1996;McIntyre, 1987), college selection (Heller, 1999;Kane, 1995;St. John, 1994), and major selection=educational attainment (Storen & Arnesen, 2007;Jonsson, 1999).…”