Washington Must Improve College Participation and Credential Attainment Rates to Remain Competitive

• To remain globally competitive, the U.S. and each state should ensure that at least 60% of adults ages 25 to 64 have an associate or bachelor’s degree by 2025. In Washington, the current rate is 42.5%.
• Washington ranks 30th among 50 states in the size of the credential increase it needs to achieve annually. To meet the 60% goal, it will need to produce an additional 447,883 degrees by 2025.
• By achieving rates of the top-performing states, Washington can produce about 229,000 bachelor’s degrees, 365,000 associate degrees and 260,000 certificates by 2025.

Meeting Credential Goal Produces Significant Personal Economic Return

Per capita income increases when the state meets 60% credential attainment goal

• Under current postsecondary investment patterns, annual personal per capita income in Washington is projected to increase by about $1 dollar in 2025.
• By meeting the 60% credential attainment goal, annual per capita income would increase significantly more, by approximately $1,700 in 2025.

Meeting Credential Goal Produces Significant Economic Returns to the State

Status quo produces small returns

Under current postsecondary investment patterns, Washington’s state revenues will increase by about $4 million in 2025.

Meeting 60% credential goal pays off

By meeting the 60% credential goal, Washington will generate more annual revenue, topping approximately $1.4 billion in 2025.

State Revenues Exceed Costs When Credential Goal is Met

Status Quo: Costs exceed revenues

Under current postsecondary investment patterns, Washington’s postsecondary costs exceed revenues by about $15 million by 2025.

Meet 2025 goal: Revenues exceed costs

By meeting the 60% credential attainment goal, Washington’s revenues exceed postsecondary costs by about $340 million by 2025.

This analysis was prepared using the CLASP-NCHEMS Return on Investment Dashboard tool.  See clasp2022.tealmedia.dev/ROIdashboard