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The study (which can be found here) suggests that late graduates are more likely to complete a college degree, to hold on to a job, vote in public elections, and practice healthy living habits than GED recipients.
These results lead the Center for Public Education to suggest that "It is worth the district's time and resources to graduate students who fall behind, even if it takes longer than four years."
Read a summary of the study by visiting the Center for Public Education's Report, "Better Late than Never? At a glance".