by Luis M. Proenza, President
The University of Akron
as Aired on WCLV Radio, Cleveland, OH - June 2001
Ohio's appropriations for higher education have been traditionally called a "subsidy." But that is grossly misleading. A subsidy suggests an obligatory gesture with no investment value . . . when, in fact, figures show that Ohioans who complete a bachelor's degree will earn twice as much as those with only a high school diploma. With their higher incomes, college graduates will pay back to the state, just in additional taxes, $1.84 for every dollar that the state invests in higher education. By anyone's accounting, that is an excellent return on investment!
At The University of Akron, we have long recognized the investment value of higher education. That is why, time and again, Akron is credited for its role in transforming the economic base of Northeast Ohio. That is why other states have made higher education the infrastructure of their new economies, and that is why Ohioans deserve no less . . . and why we should expect more.