presenting the socioeconomic benefits of emsi/ccbenefits, inc. 1187 alturas dr. moscow, id 83843...
TRANSCRIPT
Presenting the Socioeconomic Benefits of
EMSI/CCbenefits, Inc.
1187 Alturas Dr.
Moscow, ID 83843
(866) 999-3674
Maryland’s Community Colleges
College Operations Spending
• Includes direct income of faculty and staff plus…
• The indirect income due to associated multiplier effects minus…
• Any monies withdrawn from the state economy in support of the colleges
Annual Contribution
in state income(After adjusting for alternative use of funds)
College Operations
$435,328,800
Student Spending
• Measures income generated by spending of students from outside the State plus…
• Associated multiplier effects
Past Student Productivity
• Measures the higher income of students still active in the workforce plus…
• The associated multiplier effects due to past student productivity
Total Regional Impact
Total State Income $257,900,358,300 100%
College Operations Effect $435,328,800 <1%
Student Spending Effect $1,138,300 <1%
Past Student Productivity Effect $11,137,692,100 4.3%
Total Effect $11,574,159,200 4.5%
Student Benefits
Student benefits consist of the present value of increased future income
These are measured against student costs - tuition paid and the opportunity cost of time
Student Benefits $11,540,217,503
Student Costs $2,233,381,904
Rate of Return
Student Perspective
Students receive an annual rate of return of 20.9% on their educational investment.
20.9%
Benefit/Cost Ratio
Student Perspective
5.0
For every $1 invested in education, students receive a cumulative return of $5.00.
Student Benefits
An Associate Degree will increase earnings to $47,900 per year, 39% more than the average HS graduate.
An Associate Degree graduate will earn $438,500 more than someone with a HS diploma or GED over his or her future career.
Social Benefits
Higher education is statistically correlated with the improved lifestyles of the students
This translates into medical, crime and welfare/unemployment savings to the taxpayer.
Social Benefits
Improved student lifestyles translate into $50.3 million in avoided costs to the
public each year.
Medical Savings $24,028,900
Crime Savings $19,608,800 = $50,303,700Welfare/Unempl. Savings $6,666,000
Taxpayer Benefits
Taxpayer benefits consist of the higher incomes of the students and avoided costs to the government
These are measured against taxpayer costs – state and local taxes and appropriations
Taxpayer Benefits $1,055,043,600
Taxpayer Costs $518,934,400
Rate of Return
Taxpayer Perspective
Taxpayers receive an annual rate of return of 9.8% on their educational investment.
9.8%
Benefit/Cost Ratio
Taxpayer Perspective
For every $1 invested in education, taxpayers receive a cumulative return of $2.00.
2.0