New Jersey 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 New Jersey, the current rate is 45.3%.
   
• New Jersey ranks 37th 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 308,632 degrees by 2025.
   
• By achieving rates of the top-performing states, New Jersey can produce about 108,000 bachelor’s degrees, 366,000 associate degrees and 22,000 certificates by 2025.

Meeting Credential Goal Produces Significant Personal Economic Return

Per capita income increases when the state meets 60% credential attainment goal

• Under current postsecondary investment patterns, annual personal per capita income in New Jersey is projected to decrease by about $60 in 2025.
   
• By meeting the 60% credential attainment goal, annual per capita income would increase significantly more, by approximately $1,100 in 2025.

Meeting Credential Goal Produces Significant Economic Returns to the State

Status quo produces negative returns

Under current postsecondary investment patterns, New Jersey’s state revenues will decrease by about $71 million in 2025.

Meeting 60% credential goal pays off

By meeting the 60% credential goal, New Jersey will generate more annual revenue, topping approximately $1.4 billion in 2025.

State Revenues Exceed Costs When Credential Goal is Met

Status Quo: Revenues are lower than costs

Under current postsecondary investment patterns, New
Jersey’s revenues are about $38 million below costs in
2025.

Meet 2025 goal: Revenues exceed costs

By meeting the 60% credential attainment goal, New Jersey’s revenues exceed postsecondary costs by about $1.2 billion by 2025.

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