Eight economic facts about education

Better access to financial aid information and smaller-scale interventions (such as after-school enrichment programs) are just two ways that education leaders can boost high school and college completion.

Earning a college degree increases one’s earning potential and economic value significantly—yet the United States is being outpaced by many other countries in the percentage of students completing college.

The authors of “A Dozen Economic Facts About K-12 Education” identify key facts about K-12 education and include tips on how improvements can benefit U.S. students and the national economy. Here are some of those facts; for the full report, click here.

The report was released by The Hamilton Project, which aims to advance opportunity, growth, and prosperity in the nation.…Read More

College dropout rate puts financial strain on governments

First-year college completion is crucial to earning a diploma.
First-year college completion is crucial to earning a diploma.

State and federal governments spend billions of dollars in college financial aid to support students at four-year colleges and universities who leave school before their sophomore year, according to a new report from the American Institutes for Research (AIR) that provides yet another financial incentive for policy makers to focus on boosting college graduation rates.

“When students enroll in a college or university and drop out before the second year, they have invested time and money only to see their hopes and dreams of a college degree dashed,” said Mark Schneider, an AIR vice president and former commissioner of the National Center for Education Statistics. “These costs can be heartbreaking for students and families, but the financial costs to states are enormous.”

“Finishing the First Lap: The Cost of First-Year Student Attrition in America’s Four-Year Colleges and Universities” examines 2004-09 data from the federal Integrated Postsecondary Education Data System (IPEDS) and found that the 30 percent of first-year college students who failed to return to campus for a second year accounted for $6.2 billion in state appropriations for colleges and universities during that period and more than $1.4 billion in student grants from the states.…Read More