From the News You Can Use Archives 07/10/07

Economic Impact of Career Colleges
By Chaz V. Smith, Communications

According to a report released late in June by the Career College Association, for-profit colleges contribute close to $39 billion each year to the American economy.

The report takes a bottom-line look at the annual value of certificates and other credentials earned by students at for-profit colleges and asserts:

• Students will earn more than a 31 percent annual return on their investment based on higher lifetime wages
• Colleges pay approximately $8 billion in staff and faculty salaries and $82 million in local and federal taxes each year
• Revenue in the amount of $14.6 billion flows to the colleges each year
• Students spend $4 billion annually on tuition

There are 2,700 for-profit career colleges in the U.S. and 2,694 participate in the federal student-aid programs.

To receive an electronic copy of the Economic Impact Study, please e-mail Kerry Turner at the Career College Association (kerryt@career.org).

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Story posted July 10, 2007.

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