In September, the White House released an update on President Obama’s initiative for free community college. Under the America’s College Promise proposal, at least two years of community college would be as universal as high school and these two years would be free, allowing disciplined studiers to earn the first half of a bachelor’s degree at no cost.
The update from the White House cited Emsi’s recent national economic impact study for community colleges to demonstrate the positive impact of a higher educated workforce. Emsi’s study calculated that community college graduates make an average of $10,000 more a year than those with just a high school diploma, and those who earn a four-year degree earn an average of $27,000 more per year.
But higher education would reap benefits for everyone, not just the students themselves. “While these outcomes have direct benefit to students and community college graduates,” the White House said, “the return on their investment benefits the nation as a whole.” Emsi’s study estimated that the community college graduates of 2012 alone contributed $806.4 billion in added income to the national economy—a return on investment of $25 for every $1 spent by federal, state, and local governments.
The President’s proposal is in response to the fact that by 2020, an estimated 35% of job openings will require a bachelor’s degree or higher, and another 30% will require at least some college or an associate’s degree. And since they are both affordable and career-oriented, community colleges stand uniquely situated to respond to the President’s call to action. States and students would also need to step up to the plate: states by investing more in higher education and training, students by investing in their education, staying focused, and earning good grades.