Community Colleges Contributed $809 Billion to Economy in 2012
The American Association of Community Colleges (AACC) released a report, "Where Value Meets Values: The Economic Impact of Community Colleges," showing that community colleges are a boon to the American economy at large and to the individual student.
In 2012 alone, the net total impact of community colleges on the U.S. economy was $809 billion in added income, equal to 5.4 percent of GDP. Over time, the U.S. economy will see even greater economic benefits, including $285.7 billion dollars in increased tax revenue as students earn higher wages and $19.2 billion in taxpayer savings as students require fewer safety net services, experience better health, and lower rates of crime.
Students also see a significant economic benefit. For every one dollar a student spends on his or her community college education, he or she sees an ROI of $3.80.
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The study was compiled by Economic Modeling Specialists Intl., (EMSI). EMSI turns labor market data into useful information that helps organizations understand the connection between economies, people, and work. Read more about EMSI.