Pennsylvania has 61,000\u00a0jobs that require education beyond high school and not enough\u00a0qualified\u00a0workers\u00a0to fill them.\u00a0By\u00a02032, the gap will grow to 218,000 jobs\u00a0that lack\u00a0workers with\u00a0postsecondary-level\u00a0credentials, according to a Pennsylvania Department of Education study.<\/p>\n
The\u00a0gap has\u00a0real-world consequences for our economy and communities.\u00a0As the chancellor of Pennsylvania’s system of 10\u00a0state\u00a0universities, I\u00a0frequently\u00a0hear from employers who struggle to find workers with the education they need. Hospitals need nurses, businesses need accountants and data\u00a0analysts,\u00a0school districts need teachers, advanced manufacturers need technicians,\u00a0communities need social\u00a0workers,\u00a0and the list goes on.\u00a0<\/p>\n
To close the gap and address the worker shortage, more Pennsylvanians must complete education and training beyond high school. No matter whether they choose a university, a community college, a career or technical school, an apprenticeship or another good pathway, affordability is key to many people getting that education.\u00a0<\/p>\n
Pennsylvania\u2019s demographics will make that challenge harder.\u00a0The state\u00a0has an aging workforce, with\u00a0the highly skilled\u00a0baby boomers retiring and fewer young people prepared to take their place in the labor market. Pennsylvania’s employers\u00a0are feeling\u00a0the pressure of those worker shortages every day.\u00a0<\/p>\n
Adding to the challenge,\u00a0some\u00a0young people\u00a0don\u2019t\u00a0understand the potential\u00a0benefits of\u00a0higher education.\u00a0For that reason,\u00a0I\u00a0took a hard, data-driven look at\u00a0the\u00a0graduates\u00a0from our 10 state universities to better understand the economic return on a degree.\u00a0\u00a0<\/p>\n
The data provided a clear picture.<\/p>\n
On average,\u00a0our\u00a0graduates earn\u00a065% more\u00a0during the span of\u00a0their careers than Pennsylvanians with a high school diploma\u00a0alone. Over a lifetime, that\u00a0is\u00a0nearly $1 million\u00a0in\u00a0additional\u00a0earnings.\u00a0<\/p>\n
But what about the cost of paying for college?\u00a0That deserves the same\u00a0scrutiny.<\/p>\n
The\u00a0data show that the cost of earning a degree is roughly 2%\u00a0of a typical graduate\u2019s lifetime earnings.\u00a0Nearly 95% of graduates\u00a0can\u00a0repay their student loans within 10 years\u00a0\u2014\u00a0a\u00a0sign of their financial stability.\u00a0<\/p>\n
Those\u00a0outcomes\u00a0are\u00a0from our 10 state-owned universities, which\u00a0benefit\u00a0from state funding to\u00a0help\u00a0lower student costs.\u00a0Other higher education institutions around the state may\u00a0have positive results as well.\u00a0The\u00a0evidence is strong that higher education\u00a0is\u00a0the most reliable\u00a0pathway\u00a0to higher earnings, economic\u00a0mobility\u00a0and career\u00a0advancement.\u00a0<\/p>\n
Despite the doom\u00a0hyped\u00a0by some naysayers, the facts are\u00a0clear: getting a post-secondary education pays off.\u00a0The\u00a0real\u00a0question\u00a0is whether enough people can afford that education to meet the needs of our economy.<\/p>\n
Each person who has the opportunity to learn, build skills and graduate helps to strengthen Pennsylvania\u2019s workforce.\u00a0In recent years,\u00a0the state-owned universities\u00a0have enrolled more low-income students, more first-generation students and more community college transfers. Retention has\u00a0hit\u00a0record levels,\u00a0meaning more students are staying on track to graduate.\u00a0That is not only the right thing to do, but it also\u00a0benefits\u00a0our workforce.\u00a0Each one of them\u00a0helps to narrow\u00a0our state’s\u00a0workforce shortfall.<\/p>\n
Pennsylvania does not lack ambition or ability, but we must ensure that people of all ages can afford the education necessary for today\u2019s jobs and those projected in the future.\u00a0When higher education is affordable, we open doors and expand the potential for\u00a0greater\u00a0career earnings for a\u00a0young person\u00a0in Lancaster to become a nurse, a rural student to learn\u00a0how\u00a0to start a business, a first-generation student from Philadelphia to become a teacher and a working adult in Erie to move into a more stable career.\u00a0<\/p>\n
There is also no question that we must keep up with other states. California, North Carolina, Texas and other powerful states are trying hard to attract new industries and jobs. An educated workforce with strong problem-solving and reasoning skills remains one of the key factors that companies consider when deciding where to locate or expand. College affordability directly affects how many Pennsylvanians can earn the credentials necessary for those good jobs.\u00a0<\/p>\n
To compete with those states and close Pennsylvania\u2019s\u00a0workforce shortfall, we must increase the number of people who complete college and other postsecondary education.\u00a0\u00a0<\/p>\n
Affordable public higher education, and the workforce it produces, are\u00a0essential to keeping Pennsylvania working and ensuring the economic vitality of our communities.\u00a0<\/p>\n
Christopher Fiorentino is the chancellor of Pennsylvania\u2019s State System of Higher Education.<\/p>\n
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