NEW HAVEN, CT (WFSB) -- Billions of dollars a year. That’s what a new study says how much of an economic impact the State Colleges and Universities System (CSCU), along with its alumni, have on Connecticut.
The CSCU system says it’s not just an getting an education, but it’s also making an investment, one that it says is paying off.
According to the recent study, the four 4-year universities and the 12 community colleges and one online school have brought in more than $11 billion in total income during the 2016-2017 fiscal year.
“I think the biggest takeaway is our system contributes phenomenally in terms of economic growth, revenue, investment,” said Mark Ojakian, CSCU president.
That investment is what the system’s leaders are stressing.
“As we tell our story about why we should be used as an investment in the future of the state of Connecticut and not simply as an expenditure or a line item in a budget, this is going to be very powerful,” Ojakian said.
Working on campus and stuffing envelopes for the Gateway Community College Foundation’s end of the year appeal, students Addy Nunez and Jesus Garzon said they love their school.
“The fact that it’s such a small community, it makes it a lot more interpersonal, building relationships is easier,” Garzon said.
The study looked at the money students and taxpayers spend, along with the return on investment and the annual income for alumni, more than three-fourths who stay and work in state.
“The alumni these CSCU schools are creating are really benefiting the economy, adding money, supporting jobs within the state,” said Economist Hannah Ruffridge.
To see the complete study, click here.