Economic Impact of Graduates

On June 1, 2012  185 seniors walked across the stage at Lake Forest High School auditorium to receive their high school diploma.  When it was my turn to talk, I pointed out how important it was for them to have made that walk.  You see, according to the Bureau of Labor Statistics, those with a high school diploma will earn almost $200 a week more on average than those without.  Pay day.  Ka ching!

Here's some information I didn't have for that night.  The Alliance for Excellent Education, using a sophisticated economic input/output model, provides economic projections of local benefits based upon the data of our region.  Here's what they've told me about the Lake Forest High School class of 2012:

• Collectively, this single class of graduates are expected to earn as much as $1.7 million more in an average year compared to their likely earnings had they not earned a high school diploma.
• By the midpoint of their careers, these new graduates combined, will likely purchase homes totaling in value of as much as $7.2 million more than what they would have spent without a diploma.
• The spending and investments made by this graduating class will likely be enought to support as many as 9.5 new jobs in Delaware and increase the gross state product by as much as $1.5 million by the time they reach their career midpoints.
• As a result of increased wages and higher levels of spending, federal, state and local tax revenues are expected to grow as much as $500,000 during and average year.

Graduation from high school makes a lot of dollars and sense.  Some college would be even better.  And a 4 year college degree will likely double their income.