The True Cost of High School Dropouts
A NYT op ed on the true (and horrifying costs) of high school dropouts:
If we could reduce the current number of dropouts by just half, we would yield almost 700,000 new graduates a year, and it would more than pay for itself. Studies show that the typical high school graduate will obtain higher employment and earnings — an astonishing 50 percent to 100 percent increase in lifetime income — and will be less likely to draw on public money for health care and welfare and less likely to be involved in the criminal justice system. Further, because of the increased income, the typical graduate will contribute more in tax revenues over his lifetime than if he'd dropped out.
When the costs of investment to produce a new graduate are taken into account, there is a return of $1.45 to $3.55 for every dollar of investment, depending upon the educational intervention strategy. Under this estimate, each new graduate confers a net benefit to taxpayers of about $127,000 over the graduate's lifetime. This is a benefit to the public of nearly $90 billion for each year of success in reducing the number of high school dropouts by 700,000 — or something close to $1 trillion after 11 years. That's real money — and a reason both liberals and conservatives should rally behind dropout prevention as an element of economic recovery, leaving aside the ethical dimensions of educating our young people.