The California workforce will need an additional 1,000,000 college graduates by 2035 and at least that many with some college training according to the Public Policy Institute of California.
Each dollar invested by the State generates $4.50 in increased tax revenue and lower program costs.
On average, university graduates earn an additional $50,000 a year or $2,000,000 over their lifetime.
The California Budget Center reports State spending per student at the University of California and California State University system has plummeted over the past three decades.—dropping 55% for UC since 1980-81 and 45% for CSU. Tuition and fees at both systems have risen notably to compensate for reduced State support.
Both CSU and UC have reduced costs substantially. CSU has reduced its costs by $8,000 per degree awarded in the last decade. Annual UC expenditures per student have been reduced by $5,000 since 1990-91.
California Community Colleges are the largest provider of workforce training in the nation. California Community Colleges train 80 percent of California’s firefighters, law enforcement personnel and emergency medical technicians and 70% of the state’s nurses. Nearly 42 percent of California veterans receiving GI benefits attend community colleges.
CSU is the largest contributor to California’s skilled and diverse workforce, awarding more than 50 percent of the Bachelor’s degrees awarded in California in Hospitality and Tourism, Business and Agriculture. More than half of California’s newly credentialed teachers come from the CSU system. More than a third of CSU students are first generation college students. CSU related spending generates more than $17 billion in economic impact and supports 150,000 jobs. For every dollar invested by the State, CSU generates $5.43 for California’s economy.
UC annually generates more than $46 billion in economic activity in California Every. For every dollar California taxpayers invest in UC results in $9.80 in Gross State Product and $13.80 in overall economic output. UC researchers produced more than 1,700 inventions last year—more than five a day. UC conducts nearly one-tenth of the academic research and development in the U.S. Almost half of California’s medical school graduates and residents are trained at UC campuses. Among undergraduates, more than 40 are first-generation college students and 42 percent are from families with annual incomes’ typically below $50,000.
