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Early colleges blur the lines between high school and college, typically offering students the opportunity to earn a substantial amount of college credit or an associate degree while still in high school. Prior experimental evidence has shown that the early college model boosts postsecondary enrollment and credential attainment. This paper finds that early college students earn two- and four-year postsecondary credentials at a lower cost to society than students who attend traditional public high schools. Additionally, it uses an experimental framework to assess the societal costs and benefits of early colleges, finding higher net benefits of about $12,000 for early college students. The positive impacts on net benefits are especially pronounced for economically disadvantaged, underrepresented minority, and first-generation college-going students.