A recent socioeconomic report by EMSI on England’s further education colleges has revealed that “the millions of students who have been through the nation’s colleges since 1993 collectively left the economy £28 billion richer last year.”
For every pound invested by government in colleges, the taxpayer sees a return on investment of £1.70, according to an economic analysis commissioned for Colleges Week to measure further education’s impact.
The combined socio-economic benefits and savings achieved by colleges yields the taxpayer a better rate of return than if they had invested the cash in the stock market, according to Economic Modelling Specialists Inc. (EMSI), a US-based company.
David Collins, president of the Association of Colleges, which commissioned the EMSI study, said: “As we mark the first Colleges Week, this research shows clearly that England’s further education colleges are a sound investment from multiple perspectives.