From C-N news office
WASHINGTON, D.C. — The 142 Christian colleges and universities, including Carson-Newman University in Jefferson City, that are affiliated with the Council for Christian Colleges and Universities (CCCU) generate more than $60 million in economic impact each year, according to a new study.
The study was conducted by Econsult Solutions Inc., of Philadelphia, and was commissioned by the CCCU.
The affiliated schools collectively educate 445,000 students, employ 72,000 faculty and staff, and serve 3.5 million alumni around the world. The study found thast through their operations, capital investments, and additional alumni earning power, these instituitons generate more than $60 billion in economic impact each year (equivalent to $166 million generated per day for the U.S. economy).
Paul Percy, Carson-Newman executive vice president and provost, said the report speaks to the important role that Christian higher education plays in America.
“Like our sister institutions in Christian higher education, we take our mission to heart. At Carson-Newman we believe that preparing our students to be servant-leaders, regardless of what career they pursue, empowers them to be world-changers. That benefits everyone. This study reflects that,” he said.
At a time when higher education is under heavy scrutiny for its value proposition, the study’s findings are particularly pertinent—not only do Christian institutions profoundly affect the lives of students through their shared commitment to advancing faith and intellect for the common good, they also benefit the national economy and deliver a significant return on investment to the federal government.
“Christian colleges and universities provide a unique and valuable place for students to discern their vocation through the study of their chosen discipline,” said CCCU President Shirley V. Hoogstra.
“They also develop a deeper relationship with God, with their peers and professors, and with their surrounding communities. Our rigorous academics and educational missions shape students who act for the public good —often at a cost to themselves — out of a love for Jesus Christ and for the world around them. The results from this report are powerful and illuminate a bright future for Christian higher education.”
Key findings from the report include:
• CCCU institutions are responsible for more than $60 billion in economic impact each year.
• For every $1 in federal grant money a student receives, CCCU institutions provide $5 in aid to that student through grants and scholarships.
• The student loan default rate for graduates from CCCU institutions (6.3%) is nearly half the national average (11.5%).
• Even though they are tax exempt, CCCU institutions still generate $9.7 billion in federal tax revenue each year. For every $1 in federal grant money a student receives, CCCU institutions generate more than $20 in federal tax revenue.
• One in three CCCU students are first-generation college students.
• 50 percent of CCCU students come from families that make less than $50,000 per year.
• While approximately one in four college students across the country volunteer, more than one in three CCCU students participate in community service while enrolled. CCCU students perform an estimated 5.4 million community service hours per year.
For additional information and to access the full report, visit https://www.cccu.org/economic-impact/.