Although developments in economics, science, and technology have influenced the field of education, the belief in the individual and societal benefits of education has remained unchanged. The determination of the benefits of education revolves around debates on whether education serves as an economic function and whether it is a consumption and/or investment good. Considering that the primary aim of education is to nurture individuals, the qualities of the individuals to be cultivated will turn them into producers and consumers under the influence of the economy. To determine the individual and societal benefits of education, the private and social returns of education are calculated. In this section, the costs, benefits, returns, and cost-benefit ratios of public/private education in Turkey are discussed.