Objectives I estimate the returns to education for individuals who attain education after an incarceration spell. Methods Returns to labor supply and wages are estimated using data from the National Longitudinal Survey of Youth and a variety of regression and matching techniques. Results A positive relationship is found between postincarceration education and labor outcomes, especially for college completion. The General Equivalency Diploma (GED) is not associated with direct benefits. Conclusions The returns to post‐incarceration education are positive but diminished, implying that programs targeted at college completion may best serve prisoners after release.