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This paper provides new causal evidence on the short- and long-term effects of free prekindergarten access on educational attainment and labor market outcomes. We exploit quasi-random variation from the phased rollout of a 1985 Texas policy that mandated free prekindergarten for disadvantaged children, conditional on the presence of at least 15 eligible students. Using longitudinal administrative data from the Texas ERC, we find that free prekindergarten access has no significant effect on third- and fourth-grade reading and math test scores, aligning with prior research. However, we document substantial long-term gains: access to prekindergarten significantly increases the likelihood of high school graduation and college enrollment and leads to higher earnings in early adulthood.