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This paper uses the theory of human capital to model post-secondary education enrolment decisions. The model is based on the assumption that high school graduates assess the costs and benefits associated with various levels of post-secondary education (college or university) and select the option that maximizes the expected net present value. Given the discrete nature of an investment choice, the theoretical model is estimated using a multinomial logit approach and data from the School Leavers Follow-up Survey, 1995. The estimated coefficients are analyzed to identify the main determinants of post-secondary participation. Determinants analyzed include parental education; parental financial support; the student's individual abilities, marital status, parental status, & immigration status; province of residence; gender; and the father's level of education & occupation.
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