Although often overlooked as a first line of support when matching workers with jobs, the case for degree completion is strong. Degree completion is:
Degree completion is effective for clients:
Clients who complete college benefit from individual prosperity, family economic security, and local economic development. Graduates feel great, not just for completing a life goal, but for being a better prepared job seeker and employee.
As illustrated in the graph above (2012 U.S. Unemployment Rate and Median Weekly Earnings for Educational Attainment), the likelihood of an individual's unemployment decreases as their degree
attainment increases. College credentials
are also a valuable long-term investment for clients because clients' average lifetime earnings increase as degree attainment increases:
No education to 8th grade: average lifetime earnings $936,000
9th to 12th grade: average lifetime earnings $1,099,000
High school graduate: average lifetime earnings $1,371,000
Some college: average lifetime earnings $1,632,000
Associate’s degree: average lifetime earnings $1,813,000
Bachelor’s degree: average lifetime earnings $2,422,000
Master’s degree: average lifetime earnings $2,834,000
Professional degree: average lifetime earnings $4,159,000
Doctorate degree: average lifetime earnings $3,525,000
Degree completion is imperative for the nation:
To meet the growing needs of the United States workforce, the nation must steadily increase the number of college graduates each year until 2025. By 2018, for example, 60% of all jobs in US will require a postsecondary education of some sort, but presently only 38% of working Americans have a postsecondary associates, or higher degree. If the nation does not place a high priority on degree completion, the US labor force will be short 23 million degree holders in 2018. (Learn more about the national case for degree completion.
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Degree completion is necessary at the local level:
Degree completion is possible with guidance from One-Stop Career Centers:
According to the Lumina Foundation for Education, 36 million adults (1 out of every 5 working-age Americans - or more than 22% of the national population) have significant college credit but still lack a degree. Many unemployed individuals in need of training are included in this category. Through effective guidance, One-Stop Career Centers can serve as a critical partner in degree completion efforts and help:
grow a stronger, more educated local workforce;
promote strong communities;
keep companies within the state; and
contribute to the national goal of a more educated workforce and strong economy.
The public workforce system is accountable by performance measures based on training related outcomes for adults and dislocated workers. These outcomes include annual earnings. College completion can give centers and their boards the opportunity to provide more individuals with an Associate or Bachelor’s Degree and thereby earn higher wages. Higher wages, in turn, can improve performance measures.
In addition to these benefits, the environment is primed for One-Stop Career Centers to play an important role in college completion effort. The federal focus is currently on building the economy and workforce. Post-recession, new populations are using the workforce investment system. With an emergent economy, a host of new job types, and an employer emphasis on education, One-Stop Career Centers are situated to be good partners to college completion efforts.
Credential: A credential can be given for completion of one class, or a set of classes, streamlined to quickly enhance job skills.
Degree: A degree is a combination of technical skills with general education, and usually includes an additional element of social sciences education (Associate’s, Bachelor’s, Masters’, and Ph.D.).
Some College: In order to qualify for funding, a client must have less than 2 years of college left to complete. This usually equates to 30 credit hours or less to completion. Some LWIAs specify 15 or less credit hours to completion.