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Education

Get a Degree It’s Good for the Neighborhood

I think that it is common knowledge that a college education, a four year Bachelor’s degree, is good for you as an individual and good for your family.  With a Bachelor’s degree your career opportunities and job mobility increase. On average, a person with a four year college degree makes about $23,000 more per year than a person without a degree. With a college degree, or even being an adult returning to school to earn your college degree, you become a role model for your children and those around you.

But what does your college education do for your community?  Do you think having many college graduates in your community does anything in particular for the community? Would having more college graduates in your city have an impact on the economic development of the community?
The College Attainment Rate is a way to measure what happens to cities when people go back to college. It is easy to see according to the research done by CEO for Cities documented in The City Dividend Report, September 2008, that education drives prosperity in metropolitan areas, 

So the answer is yes it does! And it does in a big way.  Not only do you make more money annually, but for every 2% increase in that fraction of the population that has a college degree there is a 1% increase in personal income growth for the city.  According to some research, cities with this more college graduates in the population are more productive and generate more economic growth but even in bad economic times tend to handle this downturn more easily.  This is certainly an important factor given the current economic state.

On average, a person with a four year college degree makes about $23,000 more per year than a person without a degree.

Most of this research is most applicable to cities. The concentration of college educated people in cities has a dramatic impact on the economic health of the city. So now is the time to think about not only how you can make some changes in your personal future, but think about what you do that can change your city, and your neighborhood. Invest in yourself and you are investing in your city.

Resources:
CEO for Cities 
Video on City Dividend 

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