Illustration courtesy Pixabay

There has been a lot of talk questioning the value and even the necessity of a college education over the past several years. Is college worth it? According to a recent study by Helios Education Foundation, the answer is a resounding yes, on many levels.

The Helios report, titled “Florida’s Future Billions,” addresses the question from a research and evaluation approach that presents outcomes in numbers and data—that translates to individuals. It is a fascinating study, and I recently had the opportunity to discuss it on our Education Conversations podcast with co-author Kimberly Lent Morales. The results were stunning and worth sharing a few of my takeaways.

First, let’s define a “college” education. According to the report, it is any education beyond high school, including high demand wage trades and technical certificates. The report calculates the financial value of a degree for an individual student over their lifetime. For example, it shows on average that someone with a bachelor’s degree makes twice as much money in their lifetime as someone with a high school diploma and no further education or certification. An associate degree brings 20% more income on average than a high school diploma only. 

Yet there are more than individual fiscal benefits. To exemplify this, Helios looked at three areas that, if developed, could yield significant gains at the state and county levels: increase enrollment, improve postsecondary degree/certificate attainment, and close the inequity gaps among gender, race and ethnic groups—areas that each of us can impact. 

There are also social benefits to improving these areas. Research shows that people with education beyond high school have lower co-morbid diseases like diabetes and heart disease, are less likely to commit a crime, and rely less on public assistance. People are healthier and as a result, the state saves money. Win-win.

For Sarasota County, if we increased postsecondary enrollment by 10% the benefit for that one cohort of high school graduates equates to:

• an aggregate fiscal gain of $92M each year
• an aggregate social gain of $227M each year

That’s a lot of money left on the table. And students are missing out.

About 65% of Florida’s students pursue an education beyond high school. And we can improve this. There are approximately 6,500 high school seniors in Sarasota County, so a 10% increase in enrollment equals 650 students. That humanizes the data. And we start with each kid, one at a time.  

Is college worth it? It’s a relative question indeed, and the Helios report provides compelling data to help all of us contemplate that decision. I hope you’ll take a read and share your response with me. Here at the Education Foundation, we will continue to help ensure students get an education beyond high school. 

Jennifer Vigne is President and CEO of the Education Foundation of Sarasota County.

Illustration courtesy Pixabay