This paper estimates the effects of human capital skills largely created through education on life’s chances over the life cycle. Qualifications as a measure of these skills affect earnings, and schooling affects private and social non-market benefits beyond earnings. Private non-market benefits include own-health, child health, spousal health, infant mortality, longevity, fertility, household efficiency, asset management, and happiness. Social benefits include democratization, civil rights, political stability, reduced crime, lower prison, health and welfare costs, and new ideas. Individual benefits enhance community-wide development.