Each GED graduate earns $10,000 more annually than without a high school diploma. Averaging 60 GED recipients per year, our community impact is $600,000. The Center for Labor Market Studies estimates the diploma’s contribution-including payroll and taxes-could amount to more than $250,000 per graduated student.
At a $1.00 a day, $365 per year pays for 5 terms (each 6 weeks in length) of GED preparation per student entering our program at Adult Secondary Educational (ASE/GED; 9-12.9 grade equivalent level).
Based on mixed class levels, on average it takes 4-6 months for ASE/GED level students to get their GED. ABQ-GED’s individualized approach and supportive community of instructors and tutors allows students to continue advancing, some persisting two or even three years until GED goal was achieved.
At $5 a week, $260 per year supports one educational field trip that encourages cultural awareness or community engagement. Monthly field trips promote learning while enhancing student satisfaction and commitment.
The cost benefit to community is greater community awareness and social presence. GED graduates are 10% more likely to register to vote and 1.4 times more active as community volunteers. In turn, they are more likely to transfer that value to their families.
At $5 a day, $1,825 per year supports approximately two students per year. Last year our annual cost per student (CPS) was high ($1,014) due to additional state funding received one month prior to the end of the FY. More realistically, our average CPS from FY2009-FY2011 is $386, serving an average of 290 students. The State’s CPS average was $775 and is experiencing over $1M in funding cuts this year. NM K-12’s CPS is $9,648/year and $850—$6,050/year for college students.
At $10 a week, $520/year supports annual software updates to keep up with technology in the job market. The cost benefit to our students is realized in job attainment.
Last year, of the 81 students in our employment cohort group, 77 achieved employment. Our local economic impact from 77 students obtaining jobs is $82,4400 ($7.5x2080x77). 2008-09 Bureau of Labor Statistics show that educational attainment pays off in higher job rates, where 181,766 ABE students entered or retained employment.
At $10 a day, $3,650 per year supports approximately 10 students in obtaining their GED. This funding greatly increases our student’s ability to gain steady lifetime employment. During FY 2011-12, over 60% of our students were on public assistance. The benefit to our local community from 6 students entering the workforce and leaving public assistance is $78,000 ($13,000 is the state’s average cost per person on Public Assistance according to NMHED’s 2012 ABE Fact Sheet).
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