New York 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 York, the current rate is 44.1%.
• New York ranks 48th 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 424,036 degrees by 2025.
• By achieving rates of the top-performing states, New York can produce about 593,000 bachelor’s degrees, 710,000 associate degrees and 46,000 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 York is projected to decrease by about $340 in 2025.
• By meeting the 60% credential attainment goal, annual per capita income would increase significantly more, by approximately $1,700 in 2025.

Meeting Credential Goal Produces Significant Economic Returns to the State

Status quo produces negative returns

Under current postsecondary investment patterns, New York’s state revenues will decrease by about $1 billion in 2025.

Meeting 60% credential goal pays off

By meeting the 60% credential goal, New York will generate more annual revenue, topping approximately $5.8 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 York’s revenues are lower than costs by about $570 million in
2025.

Meet 2025 goal: Revenues exceed costs 

By meeting the 60% credential attainment goal, New York’s revenues exceed postsecondary costs by about $5 billion by
2025.

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