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Maine Higher Education Council PRESENTS

Maine Higher Education Council PRESENTS. Higher Education: A Leading Industry in Maine’s Economy An Important Investment in Maine’s Future. The Maine Higher Education Council (MHEC). Members of the MHEC are: The Presidents of the 35 public and private colleges and universities in Maine

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Maine Higher Education Council PRESENTS

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  1. Maine Higher Education Council PRESENTS Higher Education: A Leading Industry in Maine’s Economy An Important Investment in Maine’s Future

  2. The Maine Higher Education Council (MHEC) • Members of the MHEC are: • The Presidents of the 35 public and private colleges and universities in Maine • The Chancellor of the University of Maine System and the President of the Technical College System • The Commissioner of Education, and the Department of Education Director of School Support Systems. • Our campuses are located in all reaches of the state.

  3. The Maine Higher Education Council (MHEC) • We service nearly 57,000 students; of which, approximately 43,000 are from Maine and14,000 are from other states. • Students all over the world are taking thousands of web-based credit hours from Maine colleges and universities.

  4. Higher Education Contributes Greatly to Maine’s Economy • Higher education is among the 20 largest industries in Maine. • There were 13,081 jobs in higher education in 2001, with a projected increase to 14,489 by 2010. • Approximately $455 million are paid annually in wages and salaries. • Combined operating budgets total approximately $775 million, of which 30% goes to purchase goods and services directly from Maine vendors.

  5. Higher Education Contributes Greatly to Maine’s Economy • Capital projects worth $178 million are currently under construction. • Approximately $65 million of out-of-state funds are drawn to Maine annually for research and development projects. • About 25% of students come from other states, bringing dollars with them. • Colleges and universities contribute greatly at the local level.

  6. Higher Education is a Very Stable Industry in an Unstable Economy • Jobs in higher education have grown steadily from about 10,000 in 1996 to 13,081 in 2001. • Enrollment has grown moderately from about 58,000 students in 1991 to about 62,000 in 2000. • Enrollments increase in times of economic downturn.

  7. Higher Education is an Industry to Invest in for Maine’s Future • The Good News: • Maine ranks 1st in the nation for its high school graduation rate. • More graduating seniors are taking the College Board’s SAT. • A college graduate is only half as likely to be unemployed as a high school graduate. • College graduates earn 1 million dollars more over a lifetime than do those who are high school graduates only.

  8. Higher Education is an Industry to Invest in for Maine’s Future • The Bad News: • Maine ranks 44th for sending high school graduates on to college in Maine. • Half of all students who begin college in Mainefail to complete the requirements for a degree. • Maine has a low percentage of people with bachelors’ degrees. • Maine ranks 36th among the 50 statesin personal income.

  9. Higher Education is an Industry to Invest in for Maine’s Future The increase in appropriations for higher education still representsa decreasing share of the overall state budget.

  10. What Maine Legislators Can Do • Keep long-term economic benefits in mind. • Advertise Maine’s colleges and universities. • MHEC encourages legislators to support recommendations of the Blue Ribbon Commission on Postsecondary Educational Attainment.

  11. Compact for Maine’s Future

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