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The Economic Value of Career Counseling Services for College Students in South Korea

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concerning this article should be addressed to Sang Min Lee, Department of Education, Korea University, Anam-dong, Seongbuk-gu, Seoul, South Korea, 136–701 (e-mail: leesang@korea.ac.kr).

Abstract

This study investigated college students’ perception of the monetary value of career counseling services by using the contingent valuation method. The results of a multivariate survival analysis based on interviews with a convenience sample of 291 undergraduate students in South Korea indicate that, on average, participants’ expressed willingness to pay (WTP) for such services ranged from U.S. $10.22 to $10.54 per hour of individual career counseling. Self-stigma and attitudes toward counseling had positive effects on their WTP, whereas the year in college and social stigma had negative effects. The results provide policy makers with preliminary evidence of the monetary value of career counseling.

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