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Breaking with Tradition: Adult Learners are Essential to Illinois’ 60X25 Goal Enter your presentation and contact information here For more information, please contact: Mary Kay Devine Director of Community Initiatives, Women Employed [email protected] 312-782-3902 X224 www.womenemployed.org Why higher education matters Higher education is the best way out of poverty for most families. By 2020, 67% of Illinois jobs will require some higher education or training. http://completecollege.org/docs/Illinois.pdf More Education Means Higher Incomes Illinoisans with a college degree will earn more over a lifetime than their peers with only a high school diploma. Difference in Median Earnings Between a High School Diploma and a Bachelors Degree›25 to 64 Year Olds As of 2010--$22,522 difference in earnings Assuming a 40-year career Multiply $22,522 X 40 years = (say, ages 25-65) $900,880 more in earnings over a lifetime The National Center for Higher Education Management Systems Higher Education Information Center Illinois State Profile Report http://www.higheredinfo.org/stateprofile/index.php?report=fd2137197c0e3ab097751de3c389da5e More Education Means Less Unemployment Illinois’ 60 X 25 Goal - to ensure that 60% of adults have a college credential by 2025 – is vital to our state and its residents. To remain globally competitive, the U.S. and each state should ensure that at least 60% of adults ages 25 to 64 have an associate or bachelor's degree by 2025. In Illinois, the current rate is 41.3%. Increased Completion: Impact on State Revenue Substantially increasing our completion rate means increasing our state revenue. By meeting the performance of the top states, Illinois can generate increased annual revenues that far exceed higher education costs. Status quo completion rates = decreased state revenues Under current postsecondary investment patterns, Illinois' state revenues will decrease by about $140 million in 2025. http://www.clasp.org/postsecondary/publication?id=1452&list=publications_states Increased completion rates = increased state revenues By meeting the performance of the top states, Illinois will generate more annual revenue, topping approximately $1.9 billion in 2025. http://www.clasp.org/postsecondary/publication?id=1452&list=publications_states Adults currently in the workforce are vital to meeting the 60 X 25 goal. Why? Do the Math. To meet the 60 X 25 goal, we will have to produce an additional 595,296 degrees or certificates above our current graduation rate. http://www.clasp.org/postsecondary/publication?id=1452&list=publications_states We cannot meet our completion goals with high school students alone. If we improve our high school graduation rates to 100% and ALSO manage to raise our college going rate from 57.4% to 95%, we would still end up short of our goal. And while ensuring every high school student graduates is a worthy goal, it is unlikely to happen. So How Will We Do It? By helping more working age adults earn college credentials: How do the numbers add up? 1,866,386 students expected to graduate from high school from 2013-2025 3,111,005 adults age 25-54 without a college degree includes adults with: Some Postsecondary Education, No Degree Only a HS Degree/GED Without a HS Degree/GED High school projections derived from 2011-2012 District Summary from Illinois State Board of Education. Original source: U.S. Census Bureau, 2010 American Community Survey and 2011 Current Population Survey. Our current workforce is essential to meeting our goal If we increase the number of 20-39 year olds enrolled in college by just two percentage points from 1.22% to 3.2%, we are more than halfway to our goal - we’ll gain 344,000 credentials. We need to target adults to return to school and complete certificates and degrees. http://www.clasp.org/resources_and_publications/flash/CPES%20ROI%20Tool/Illinois.swf The CLASP/NECHEMS ROI Tool http://www.clasp.org/resources_and_publications/flash/CPES%20ROI%20Tool/Illinois.swf Breaking with Tradition: Adult Learners Are Essential to Illinois’ 60 X 25 Goal To meet the college completion goals of tomorrow, we must include the adults of today. It will take work, but we can do it. www.womenemployed.org/sites/default/files/resources/AdultCompletionFactSheet2012.pdf