Like the weather‚ everybody talks about shrinking education budgets‚ but nobody does anything about them. Education funds are constantly shrinking‚ tax revenues have fallen‚ and education budgets are subject to continuing cuts with no end in sight.
Finance‚ Budgets and Education:
Almost everyone knows the difference between an expense and an investment. And everyone knows that in the long term it’s better to save or invest in an asset than pay for a one-time expense. Historically government’s budget line items for Education have been treated as an expense‚ but they should be treated as an opportunity for investment. A recent study found that for every dollar the state of California invests in the CSU and UC university system‚ there is an overall return on that investment of $4.50 from increased tax revenue and decreased expenses compared to those who do not receive the benefit of higher education. Those earning degrees return $4.80 and those who attend a university but do not receive a degree still return $2.40 for every dollar invested. It’s also important to note that the returns on that investment only include those items which are directly attributable to increased state income taxes and reduced expenses such as unemployment payments. But that analysis is clearly understating the total economic impact‚ since it doesn’t include any of the hard to define‚ but clearly substantial contributions ranging from businesses and jobs created by students‚ or the businesses that move into the region to be in close proximity to a university campus.
HiTech EdVentures is an independent‚ self-funded‚ for-profit entity that benefits higher education in multiple ways. A for-profit public benefit business‚ its purpose is to benefit technology education and facilitate building connections between the business and academic worlds. It is also focused on providing students with a chance to participate in real-world business and product development opportunities‚ while promoting products designed and manufactured here in the USA. HiTech EdVentures is the venue for products and services developed by technology students and faculty and a way for industry to work with and get to know potential future technology employees.