Michigan Must Improve College Participation and Credential Attainment Rates to Remain Competitive

• To remain globally competitive, the U.S. and each state should ensure that at least 60% of adults ages 25 to 64 have an associate or bachelor’s degree by 2025. In Michigan, the current rate is 36.4%.
   
• Michigan ranks 20th among 50 states in the size of the credential increase it needs to achieve annually. To meet the 60% goal, it will need to produce an additional 953,723 degrees by 2025.
   
• By achieving rates of the top-performing states, Michigan can produce about 250,000 bachelor’s degrees, 350,000 associate degrees and 140,000 certificates by 2025.

Meeting Top Performers Produces Significant Personal Economic Return

Per capita income increases when the state meets top performers

• Under current postsecondary investment patterns, annual personal per capita income in Michigan is projected to decrease by about $200 in 2025.
   
• By meeting top performers, annual per capita income would increase significantly more, by approximately $1,200 in 2025.

Meeting Top Performance Produces Significant Economic Returns to the State

Status quo produces negative returns

Under current postsecondary investment patterns, Michigan’s
state revenues will decrease by about $277 million in 2025.

Meeting top performance pays off

By meeting top performance, Michigan will generate more annual revenue, topping approximately $1.9 billion in 2025.

State Revenues Exceed Costs When Top Performance Goal is Met

Status Quo: Revenues are lower than costs

Under current postsecondary investment patterns, Michigan’s revenues are about $35 million below costs in 2025.

Meet top performance: Revenues exceed costs

By meeting top performance, Michigan’s revenues exceed postsecondary costs by about $1.4 billion by 2025.

This analysis was prepared using the CLASP-NCHEMS Return on Investment Dashboard tool.  See clasp2022.tealmedia.dev/ROIdashboard