College completion rates are low. Programs that help students complete college cost money. What if we invest in helping more students graduate from college? What would that do for the American economy? A lot, according to a new study – The Economic Impact of Increasing College Completion–from the American Academy of Arts and Sciences and Moody’s Analytics. The research indicates that sustained investments in college completion would result, over time, in economic gains for individuals and economic growth for the nation.
“This research paper–illustrating the enduring value of education to the American economy–is an excellent resource for all who are interested in education, equity, economic growth, and their intrinsic connection,” said American Academy President Jonathan Fanton. “In a world in which the focus is often on short-term results, investing in college completion offers a long-term outcome well worth considering.” This paper is an example of how the American Academy contributes to the public good with nonpartisan, well-considered facts, analysis, and recommendations.
The Academy’s Commission on the Future of Undergraduate Education – which is supported by Carnegie Corporation of New York – is chaired by Roger W. Ferguson, Jr., President and CEO of TIAA, and by Michael S. McPherson, President Emeritus of the Spencer Foundation and a past president of Macalester College; both are economists and members of the Academy.…Read More