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HIGHER EDUCATION AS AN INVESTMENT

HIGHER EDUCATION AS AN INVESTMENT. Private Returns. Higher education provides considerable value to: the economies where educated individuals work/live society in general individual earnings are strongly related to educational attainment

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HIGHER EDUCATION AS AN INVESTMENT

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  1. HIGHER EDUCATION AS AN INVESTMENT

  2. Private Returns • Higher education provides considerable value to: • the economies where educated individuals work/live • society in general • individual earnings are strongly related to educational attainment • average annual earnings of individuals with a bachelor’s degree are more than 75% higher than earnings of a high school graduate • earning differential is increasing over time Source: Productivity and Prosperity Project, Arizona State University, W.P. Carey School Business. 2005. The Value of Higher Education: Individual and Societal Benefits. 3

  3. Societal Returns • Greater educational attainment results in enhanced worker productivity, which translates into higher output and incomes • Regions with higher proportions of college graduates include lower crime rates, greater and more informed civic participation, and improved performance across a host of socioeconomic measures Source: Productivity and Prosperity Project, Arizona State University, W.P. Carey School Business. 2005. The Value of Higher Education: Individual and Societal Benefits. 4

  4. Mean Annual Earnings by Age and Educational Attainment in the U.S. Source: U.S. Department of Commerce, Census Bureau, Income in 2005 by Educational Attainment: 2006 5

  5. Mean Annual Earnings by Age and Educational Attainment in Arizona Source: U.S. Department of Commerce, Census Bureau, 2000 Census Public Use Micro Data Sample 6

  6. The Array of Higher Education Benefits Source: Institute for Higher Education Policy. 1998. Reaping the Benefits, Defining the Public and Private Value of Going to College. Washington, D.C.: Institute for Higher Education Policy 7

  7. ARIZONA’S DEMOGRAPHIC GROWTH

  8. Population Growth Source: United States Census Bureau 9

  9. Enrollment Projection Model Arizona’s State Universities Total Enrollment in Fall 2006 is 120,645 Governor’s Task Force on Higher Education, 2000 10

  10. Projected Increases in ASU Enrollment Fall 2007 = 64,394 Institutional Analysis 11

  11. Performance

  12. First-Year Persistence RatesFirst-Time, Full-Time Freshmen1985-2005 13 Source: ASU’s Institutional Analysis

  13. Six-Year Graduation RatesFirst-Time, Full-Time Freshmen1984-2000 14 Source: ASU’s Institutional Analysis

  14. Five-Year Institutional Graduation Rates at Public and Private Four-Year Institutions 1986 - 2006 % Source: ACT Institutional Data File 15

  15. Investment

  16. ASU Fund Source – 2003 (in millions) Total = $846 Million 17

  17. ASU Fund Source – 2004 (in millions) Total = $930 Million 18

  18. ASU Fund Source – 2005 (in millions) Total = $1.044 Billion 19

  19. ASU Fund Source – 2006 (in millions) Total = $1.172 Billion 20

  20. ASU Fund Source – 2007 (unaudited) (in millions) Total = $1.358 Billion 21

  21. ASU Fund Sources FY03-07(in millions) (unaudited) 22

  22. General Fund as a Percentage of ASU’s Total Fund Sources (unaudited) 23

  23. Percentage of Total General Fund Invested in Arizona’s Universities Source: Joint Legislative Budget Committee – General Fund Operating Spending, Fiscal Years 1979-2008 24

  24. Public Pac-10 Tuition Comparison 25

  25. FTE Student Enrollment Notes: Actual enrollments are per Fall Semester 21st Day, as listed on ABOR Enrollment History report. 2007-08 UA Main enrollment is preliminary. UA Main FTE Resident Student Enrollment includes Nursing, Pharmacy and Health Related Profession students, but not Medical students. 26

  26. Cumulative Change in FTE Student Enrollment Notes: Actual enrollments are per Fall Semester 21st Day, as listed on ABOR Enrollment History report. 2007-08 UA Main enrollment is preliminary. UA Main FTE Resident Student Enrollment includes Nursing, Pharmacy and Health Related Profession students, but not Medical students. 27

  27. General Fund per FTE Student Notes: Actual enrollments are per Fall Semester 21st Day, as listed on ABOR Enrollment History report. 2007-08 UA Main enrollment is preliminary. UA Main FTE Resident Student Enrollment includes Nursing, Pharmacy and Health Related Profession students, but not Medical students. General Fund amounts listed include reductions for mid-year cuts made in FY02 & FY03, otherwise initial GF appropriations, not including TRIF. FY07 amounts shown net of one-time appropriations. FY08 GF amounts shown net of Phoenix Biomedical campus one-time funding. Funding for the Research Infrastructure Lease-Purchase Payments is included. FY06, FY07 & FY08 UA Main General Fund amounts net of AZ Cooperative Extension ($10,184,100 for FY06, $12,069,300 for FY07, and $11,728,500 for FY08 as per JLBC Appropriations Report.) 28

  28. Cumulative Change in General Fund per FTE Student Notes: Actual enrollments are per Fall Semester 21st Day, as listed on ABOR Enrollment History report. 2007-08 UA Main enrollment is preliminary. UA Main FTE Resident Student Enrollment includes Nursing, Pharmacy and Health Related Profession students, but not Medical students. General Fund amounts listed include reductions for mid-year cuts made in FY02 & FY03, otherwise initial GF appropriations, not including TRIF. FY07 amounts shown net of one-time appropriations. FY08 GF amounts shown net of Phoenix Biomedical campus one-time funding. Funding for the Research Infrastructure Lease-Purchase Payments is included. FY06, FY07 & FY08 UA Main General Fund amounts net of AZ Cooperative Extension ($10,184,100 for FY06, $12,069,300 for FY07, and $11,728,500 for FY08 as per JLBC Appropriations Report.) 29

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