For at least a decade, we’ve all been bombarded with headlines and articles asking whether college is still worth it.
Whether you’re talking about a four-year education at a state university in Minnesota or a two-year education at a state university, I can unequivocally say that college is worth it. And the real data backs it up.
First, we keep college affordable. Bemidji State University and NTC, Bemidji’s technical college, have kept tuition increases below the rate of inflation. Over the past decade, inflation has increased the cost of living by nearly 32%, while tuition at BSU and NTC has increased by just over 13%.
By comparison, tuition increases at private universities were in line with inflation, but tuition increases were more than twice the rate of inflation.
It costs money, but what about the benefits? According to data from the U.S. Department of Education, both BSU and NTC graduates earn significantly more than Minnesotans with only a high school education. Ten years after earning their degree, NTC graduates earn more than $7,400 more per year than high school graduates. BSU graduates earn $13,700 more per year than high school graduates, nearly twice the benefits.
Applying these differences to the cost of a college education, NTC graduates can repay their full tuition in just 1.8 years, while BSU graduates only need 4.5 years to complete their degree. These are the facts.
In my two years as president, I am pleased to have found elected officials across our state who recognize the importance of higher education. That’s one of the really great benefits of living in Minnesota. Perhaps that’s why over the past few years, our Congress has created new programs to make college more affordable and accessible.
An important new program you may have heard of is the North Star Promise Scholarship, which launched this fall. This ensures tuition coverage for students from families with adjusted gross incomes of less than $80,000 per year.
The North Star Promise has already been a huge success. At BSU and NTC, 444 students are benefiting from the program this fall. And across Minnesota, approximately 13,000 students have received North Star Promise scholarships.
This means 13,000 more Minnesotans can pursue their dreams of earning a college degree without worrying about a future full of debt. That’s 13,000 more Minnesotans taking steps toward a brighter future for themselves and their families.
North Star Promise is just one of many programs available to support Minnesotans pursuing a degree. The state Department of Higher Education offers a variety of scholarship and grant programs, including the Minnesota State Grant, American Indian Scholars Program, Minnesota Indian Scholarship, and Minnesota Future Together Grant.
These programs not only provide opportunities for students and their families, but also lay the foundation for future success across the state.
In March, the Minnesota Department of Employment and Economic Development released research showing graduates of Minnesota universities are more likely to stay in Minnesota. From 2018 to 2021, approximately 238,000 students graduated from Minnesota colleges and universities, and 63% of them were employed in Minnesota two years after earning their degree.
For BSU, about three-quarters of its 48,000 alumni live in Minnesota, and for NTC, that number is even higher. Additionally, BSU and NTC are major labor providers in northern Minnesota, which is why the latest economic impact study shows that every dollar paid to BSU or NTC generates more than $10 in economic activity in the region. This is an important reason as it turns out.
Creating opportunities for more Minnesotans to earn these degrees means Minnesota employers can fill open positions in offices, fields, factories, and stores without having to import talent from outside the state. means that you can.
So far, I’ve talked primarily about the economic value that BSU and NTC bring to our communities and regions, but I’m equally proud of the way we educate our students to lead exciting lives. I think so.
Research shows that college graduates, on average, have better health and lower health care costs. They are less likely to divorce and more likely to be involved in their children’s K-12 educational experiences. They are more likely to vote, volunteer, and give charity to their communities. This is only a brief overview of the nonfinancial outcomes of postsecondary education.
In other words, BSU and NTC do more than just prepare workers and leaders for our businesses and communities. What really makes the difference is the type of people we have in place. In other words, people who are known for their integrity, care, and commitment to equity and inclusion.
I’ve heard it said that parks belong to everyone, even if not everyone chooses to visit their local park. That’s how I feel about college. It’s the same for everyone. While some will probably choose not to attend, at BSU and NTC we know that a college education has life-changing value.
That’s why we work hard to ensure that everyone pursuing a college degree has a place at NTC or BSU where they can afford to change the trajectory of their lives and families forever.
John Hoffman is president of Bemidji State University and Northwest Technical College.
