Published Friday, June 05, 2009

Investing in education pays

By Brenda Pedraza-Vidamour

The Times-Herald

College costs -- it's the sobering reality that follows high school graduation celebrations.

To help soften the blow, consider the reports provided by the U.S. Bureau of Labor Statistics, the Georgia Department of Labor and, most recently, the Atlanta Regional Council for Higher Education. The reports show that even a little bit of a college education continues to be a smart investment. It pays off on many levels -- from higher-earning power to a better well-being.

The BLS shows the 2008 median yearly earnings for a high school graduate in the United States around $30,732. For an individual with an associate degree, it's $38,272, and for a bachelor's degree, it's $50,856.

The GDOL indicates the 2008 average yearly earnings for the 10-county Workforce Investment Area that includes Coweta at $44,700 for an individual with an associate degree and $51,700 for one with a bachelor's degree. Someone with work experience and no formal post-secondary education would earn, on average, about $20,800-$27,300 annually, according to the state's occupational wage rates.

ARCHE's report released last month shows that college graduates in Georgia average twice the income and half the unemployment of high school graduates.

"The earning power is over $1 million over a lifetime, compared to a high school diploma," agreed Janie Lore, director of Brewton-Parker College Newnan Campus. "I always tell students it's an investment in their future."

Besides the higher earnings, ARCHE reports that investing in education also pays off state-wide by providing a more talented work force, higher tax revenues, lower spending for prisons and public assistance, and healthier citizens enjoying home ownership and a better quality of life. Among ARCHE's findings:

* One-fourth of adult Georgians who did not finish high school live in poverty. In Georgia homes where no one finished high school, more than half of children under the age of 17 live in poverty.

* On average, because of higher income, a Georgian with a bachelor's degree pays 72 percent more in state and local taxes than a person with a high school degree.

* Eighty-six percent of prisoners in Georgia did not continue education past high school. Their incarceration costs Georgia nearly $800 million annually.

"The numbers are dramatic. When we invest in education, as individuals and as a society, there are clear and measurable returns," said ARCHE President Michael A. Gerber. "And if we fail to invest, we pay the costs."