A new economic impact report has found that students who enrol at Georgian College get an excellent return on their investment in their postsecondary education.
The report by EMSI (Economic Modeling Specialists International) shows that students at Georgian will get a 14.2 per cent return on their investment in college education. The report says students will enjoy long-term earnings and other benefits that will be three times greater than what they spend to attain their college education.
“College education continues to be a terrific investment, particularly in this new economy,” said Georgian College President and CEO MaryLynn West-Moynes. “Our students acquire the qualifications and advanced skills to pursue meaningful and rewarding careers.”
EMSI, which is world renowned for its economic analyses of postsecondary education, conducted its assessment of Georgian College from December 2013 to April 2014. Read the report here.
“In return for their investment, students of the Ontario colleges develop the skills required for an increasingly globalized workplace and receive a stream of higher future wages that will continue to grow throughout their working lives,” the report says.
The report also found the Ontario government gets a huge return on its investment in Georgian. It shows that Georgian delivers a return of 19.3 per cent for every dollar the province invests in the college.
West-Moynes said the report’s findings are important as Ontario looks for solutions to the skills mismatch and the daunting challenges of youth unemployment and underemployment.
She also said greater numbers of people must gain access to college education, including combinations of college and university programs. It is equally important to ensure that colleges have the resources to continue delivering the high-quality programs that deliver excellent returns to government.
“College education is more important than ever to the local economy and to helping people find long-term success,” West-Moynes said.