Drew Dixon
Just a nominal increase in the number of postsecondary education students in Florida could increase the state’s economic gains by billions of dollars, according to a new study.
The “Florida’s Future Billions” report conducted by Helios Education Foundation, which supports higher education for low-income or underrepresented communities, conducted the study. The analysis found that just a 10% increase in students for Florida’s postsecondary education system would account for a $8.38 billion increase in economic output for the state.
“This report comes at a critical time when the value of college is being questioned around the country,” said Paul J. Luna, Helios Education Foundation President and CEO. “What we’ve always known to be true, and what this report underscores, is that the more Florida residents have some form of postsecondary education, the greater the economic benefit to them, their families, their communities, and certainly to the state overall.”
The study even got into some potential regional impacts in the state. With the base student increase of 10%, Central Florida would see a $762 million annual increase in economic value. The Gulf Coast would see a $995 million annual increase in economic value. And South Florida would notice an increase of $2.4 billion in annual economic gains.
“Florida has one of the strongest and most affordable public college and university systems in the country. However, there are still significant economic benefits to further expanding access to postsecondary education,” added Paul Perrault, Senior Vice President of Community Impact and Learning at Helios Education Foundation.
“To that end, our report offers recommendations for the state and business community to help increase college enrollment and completion rates, including investing in programs that better prepare high school students for college.”
Other recommendations from the report include:
— Reducing chronic absenteeism.
— Encouraging more students to take advanced courses.
— Improving access to information about college options.
— Increasing state-funded grants and financial support for colleges and universities to make higher education more affordable.
— Developing partnerships between public and private sectors across Florida to create more opportunities for students, especially in high-demand fields.
— Continuing to invest in systems and policies that help education leaders make informed decisions from K-12 through college.
