Why Is It Important to Make College Affordable?
By 2020, the U.S. is expected to experience a shortage of nearly 12 million college-educated workers. Whether the U.S. retains its preeminence in the increasingly competitive global economy will depend on having a highly-skilled workforce. Higher education is the critical tool for building that workforce.
Closing the current college participation gap between minority and non-minority students could add $250 billion to the national gross domestic product and $85 billion in tax revenue, which would strengthen our economy and improve the quality of life for all Americans.
- The poverty rate for college graduates is about one-third of the poverty rate for high school graduates.
- According to the College Board, per capita income is closely related to college graduation rates.
- In 2005, women ages 25-34 with bachelor's degrees earned 70 percent more than those with high school diplomas. For men, the difference was 63 percent.
- Statistics show that individuals with college degrees are less likely to be unemployed. This is particularly the case for African-American and Latino college graduates.
- Research demonstrates that the children of college graduates are more likely to be exposed to current events and participate in cultural events.
- In the 2000 presidential election, three-quarters of U.S. citizens with college degrees between the ages of 25 and 44 reported voting, compared to 45 percent of high school graduates.
- College graduates perform community service at nearly double the rate of high school graduates.