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Best Economic Stimulus is Diploma, National Reform Advocate Tells Summit

Press Release:

Best Economic Stimulus is Diploma, National Reform Advocate Tells Summit

Building and sustaining the public will to reform Chicago high schools is one of the city’s best economic development strategies, according to national high school advocate Bob Wise, president of the Alliance for Excellent Education and former governor of West Virginia.

Speaking at the University of Chicago at a summit on “Graduation Pathways for Chicago Youth,” co-sponsored by America’s Promise and the Alliance for Excellent Education, and organized by Chicago Public Schools, Wise said the city’s approximately 17,000 students who did not graduate with their class of 2007 will cost Chicago almost $4.5 billion in lost earnings during their working lives. “Multiply this by each year’s class of dropouts,” Wise said, “and we see that the dropout crisis affects all of Chicago’s business, community leaders and taxpayers, regardless of whether they have a child in the public school system.

“The best economic stimulus package is a diploma.” Wise said. “Based on annual median income by level of education we can predict that simply turning 1,000 dropouts into high school graduates would result in an additional $20 million in payroll in an area, the equivalent of locating a major new business.  And suddenly there are hundreds of new taxpayers, home buyers, and big-ticket consumers.”

Author of the forthcoming Raising the Grade, a book detailing the need for high school reform, Wise said the commitment to providing quality education in the early grades was paying dividends in increased federal test performance for fourth graders. “But gaining full return on that hard work means not dumping those same children into  low-performing middle and high schools,” Wise said.

“The federal government must also learn this lesson about getting maximum return on early education investment,” Wise said, noting that current federal spending for high schools is only 13 percent of what is spent for early childhood. “With over two –thirds of the nation’s eighth graders reading below a proficient level, clearly every grade and age requires constant effort.

“As Chicago residents need to continue supporting significant high school reform, the federal government should be a partner in this national effort. In Congress, the proposed Graduation Promise Act would combine federal dollars with the city and state funds to turn around the lowest performing high schools that have the highest dropout rates.”

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The Alliance for Excellent Education is a Washington-based policy, research, and advocacy organization that works to make every child a graduate, prepared for postsecondary education and success in life.

For more information about the Alliance for Excellent Education, please visit: www.all4ed.com.

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