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Dr. Jesse Smith | |
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This week marks historic initiatives outlined by President Obama in an effort to strengthen our economy through investing in our people. It hasn’t been since the 1940s that we’ve seen this level of activity focused on two-year college education. Obama’s American Graduation Initiative and House of Representatives Bill 3221, called The Student Aid and Fiscal Responsibility Act of 2009, are the two historic initiatives announced earlier this week.
To view the details of these initiatives and other statistics, visit these links:
American Graduation Initiative Fact Sheet and Statistics
President Obama’s American Graduation Initiative
http://www.whitehouse.gov/blog/Investing-in-Education-The-American-Graduation-Initiative/
H.R. Bill 3221, The Student Aid and Fiscal Responsibility Act of 2009
http://edlabor.house.gov/newsroom/2009/07/chairman-miller-introduces-leg.shtml
This infusion of federal dollars into the higher-education sector will yield strong returns on investment. That’s good news. Let me explain further.
According to the U.S. Census Bureau, we know that community college graduates earn $615,000 more over their lifetime than dropouts, and about $268,000 more than a high school graduate. Using basic economics forecasting, we could hope to see $1.34 trillion extra dollars in earned income. This money will go directly into the pockets of the 5 million extra community college graduates that President Obama is calling for by 2020.
Consider the current value of those additional lifetime earnings today. The calculated present value of $1.34 trillion is $552 billion*. Through what other means could we ever increase the spending power of Americans by $552 billion today? Is that realistic? Absolutely not.
We understand that investing in education does require an enormous assumption. That assumption is people. Can they overcome life’s challenges and distractions? Will they be persistent enough and stay the course to eventually graduate?
Currently, our national college graduation rate is 19%. Of the 6.7 million people currently enrolled in community colleges, only 1 out of 5 graduates within a three-year time frame. To grow our number of graduates, we will have to either enroll 50% more students or increase our graduation rates. I can honestly say that both of these approaches are being actively pursued here at Jones. You’ll hear more on that later.
The initiatives outlined by President Obama and the House both focus on increasing the number of community college students, increasing enrollment capacity, and building college infrastructure to provide enhanced student services. The initiatives also emphasize the development of innovative techniques to ensure that enrolled students graduate.
Overall, the initiatives are worthwhile because they are investment focused. Today’s students need to acquire sophisticated skills while in school to meet the demands of the workplace. Upon graduation, students should have the capacity to:
- think critically and solve problems
- learn extremely adaptive training techniques and
- engage in partnerships between all levels of education providers
I hope to bring you more information on these historic initiatives and their impact.
Best,
Jesse
*(Present value of $1.34 trillion @ 3% interest over 30 years)
Today, we began a term with the largest enrollment the college has ever had for a summer. In addition to college classes, the summers at Jones are filled with summer camps. Watching the activity across campus, it’s easy to see just how special Jones is for people of all ages.
This afternoon, while my son Conner and I were taking a late evening swim in the JC pool, I felt I was watching the future unfold right before my eyes. As I was getting ambushed by my seven year old son armed with a water gun, I observed at least 30 people walking on the Lake Side Walking Trail. The scenery of the lake is serene, and the sound of the lake’s water fountain is very calming.
From my vantage point, I could see the local Cub Scout troop having its twilight camp on the band practice field. One of our local high schools, West Jones, was having their annual football camp, and just down the street at the JCJC Baseball complex, the 8 year old Jones County All Star baseball team was getting ready for the world series that will be hosted in Laurel. Over in the M.P. Bush Fine Arts Building, 170 young musicians were on campus for the Adventures in Music Camp, and, earlier in the day, grade school children were on campus for the annual Kids College. Better yet, the nationally ranked Bobcat football team arrived for their summer work out program.
Wow! It is happening here this summer. After a good hour of chasing my son under water, while at the same time, watching all the campus activity, I was truly thankful for being able to see all the good that Jones is bringing out in our youth. So tomorrow morning, when the bright 2,200 strong summer college students return to classes, they will be enriching their lives for the future. But, I can easily say that we are the ones that are being enriched by their presence in our lives.