By Dr. Marciene Mattleman
PHILADELPHIA (CBS) - California, trying to solve budget crises like other states, has looked at its investment in higher education. Research from the Institute for the Study of Societal Issues found that for every dollar the state invests in higher education, it will receive a net return of $4.50 – 450%!
By enrolling and finishing college, the average California resident will spend 4 years less in poverty reducing the expected number of years they receive cash aid by more than 2 years.
By the time a graduate reaches 50, the State’s initial investment is repaid in full. Past graduates of the University of California and California State University have returned $12 billion to the state annually.
These findings make clear that increases of higher earnings through taxes in ensuing years saves money on social services and incarceration costs and is the best investment for the State and individuals.
Such investing is a model that should be followed by other states.
Read more at CollegeCampaign.org.