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Source on the costs? (I'm not doubting what you say is true, I would just like to know where you get your data).
Search Incarceration vs. Education.
It's easy to extrapolate just from the headlines but I'm sure if you dig into the articles you'll find the data you are asking for.
My source is lived experience and human services courses. So I don't have a study to point too.
But there are studies and data on this is abundant.
One ounce of prevention is worth a pound of cure and all of that.
And you couldn't find one?
Clickbait articles are everywhere. NEVER trust the headlines.
I'm still not doubting what you say is true -- I just want to know what studies prove it, simply because I do not possess the requisite knowledge to assume "truthiness" of said articles if I were to even find them. My area of expertise is very far from anything related to human services.
Here's a NAACP report. Prison is expensive because all of that security is expensive. Add onto that medical care, especially older inmates with long bids cost a lot. It's cheaper to invest in education. High school drop outs, black or white, are more likely to be incarcerated. Reducing high school drop out rates is something doable and it would save money.
https://www.prisonpolicy.org/scans/naacp/misplaced_priorities.pdf
Also, investing in education improves GDP. People in higher income brackets also pay more taxes. The GDP increase for the US if we ensured every child access to education is 16% per year for the next 80 years.
Here's that study. That's the Organization for Economic Cooperation and Development. OCED.
https://www.oecd.org/education/universal-basic-skills-9789264234833-en.htm
I can find something for you. Just was busy when I replied earlier and finding good studies to share that aren't behind a paywall takes time.
Let me burn one and do a few other things. Then I'll see if I can dig something up for you.