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Economic Impact
Casper College increases individuals' earning potential
- A total of 8,200 credit and noncredit students attended the college in fiscal 2004, 79% of whom were employed full- or part-time while attending.
- As many as 75% of the students stay in the region initially after they leave the college and contribute to the local economy. Their continued contribution is measured after accounting for out-migration, retirement, and death.
- Studies demonstrate that education increases lifetime earnings. The average annual earnings of a student with a one-year certificate are $29,023, or 81.4% more than someone without a high school diploma or GED, and 15.5% more than a student with a high school diploma. The average earnings of someone with an associate degree are $33,969, or 112.3% more than someone without a high school diploma or GED, and 35.2% more than a student with a high school diploma or GED.
- After leaving the college, the average Casper College student will spend 37 years in the workforce. The student who leaves with a two-year college degree will earn $325,637 more than someone with a high school diploma or GED.
- Each credit earned at Casper College brings a return to the student of $115 per year in increased earnings.
- Over the next 37 years in the workforce, the average Casper College student's discounted lifetime earnings (i.e., future values expressed in present value terms) will increase $4.91 for every education dollar invested (in the form of tuition, fees, books, and foregone earnings from employment).
- Students enjoy an attractive 16.8% rate of return on their educational investment, and recover all costs (including wages foregone while attending Casper College) in 8.5 years.
Beginning of report >> Casper College stimulates the local economy