A recent two-part study by the Helios Education Foundation reveals the significant value of Black students in Florida obtaining a college degree.
The research also underscores the specific benefits seen by some Black students when attending Historically Black Colleges and Universities (HBCUs).
The research, conducted in partnership with the Institute of Higher Education at the University of Florida, shows that Black Florida students who attended a four-year college or university between 2004 and 2010 will experience a net present value (or total value) of $130,000 after 35 years from initial enrollment. These students will see a positive overall financial benefit from pursuing a higher education. The research indicates that their average estimated household earnings are projected to be $8,583 higher than those Black Florida students who did not enroll in college. Additionally, the research shows that when a Black Florida student enrolls in a four-year college or university it increases the likelihood they will surpass the 50th percentile of earners in Florida.
“These findings point to a powerful narrative about Black students pursuing higher education – that college is still worth it,” said Paul Luna, the president and CEO of the Helios Education Foundation. “Education is an investment that changes lives, and Helios is committed to creating more opportunities for student success in postsecondary education in Florida. This study makes a strong case that efforts to increase college enrollment rates have a substantial return on investment for Black high school graduates in Florida and for the state.”
The study used one of the largest and richest student-level datasets in the U.S. to follow Black students throughout the state of Florida from high school to college, and through tracking their financial outcomes in 2017. In total, the study examined 96,710 Black students who took the SAT between 2004 and 2010. Approximately 35 percent of the Black SAT-takers sent an application to at least one HBCU in the U.S. and about 40 percent of those students initially enrolled at an HBCU.
The second part of the study highlights the vital role of HBCUs in Florida’s higher education landscape. Most notably, the study found that there is a 40 percent increase in the probability of earning a bachelor’s degree when Black students enroll at an HBCU versus those who enroll at predominately white institutions.
Additionally, Florida’s four HBCUs, including Bethune-Cookman University, Edward Waters University, Florida Agricultural and Mechanical University, and Florida Memorial University graduate more Black students in STEM disciplines than all other Florida universities combined. Furthermore, HBCU enrollment increases the likelihood an individual’s earnings will reside in Florida and surpass the 75th percentile of Black SAT takers by 2.7 percentage points (14 percent).
“Despite the abundance of research showing the value of attending college, comparatively little is known about the specific individual and state-level implications of improving college attainment among Black students,” said Dr. Paul Perrault, the senior VP of community impact and learning for the Helios Education Foundation. “This study helps fill that void and provides valuable information on the current return on investment of Black students attending college. Imagine the individual and state benefits if there was a greater commitment to increasing Black student college enrollment in Florida.”
Additional findings on Black Florida Student College Enrollment include:
Starting at a four-year institution raises the probability of Black students earning a bachelor’s degree by 42.9 percentage points.
Black students who attend four-year institutions are 36.6 percentage points more likely to complete a college degree and live in Florida around age 30.
Two-year college students see a net present value of $50,000 35 years after initial college enrollment.
Relative to individuals who do not enroll in college, two-year college students are expected to see an increase in annual average household earnings of $6,492.
Additional findings on Black Florida Student HBCU Enrollment include;
HBCUs provide Black students with viable four-year alternatives to community college, with 99.6 percent of HBCU enrollees attending four-year institutions.
The probability of Black students earning a bachelor’s degree when enrolled at an HBCU is 13.5 percentage points higher than if they attended a non-HBCU institution.
HBCU students see a net present value (or total value) of $60,000 35 years after initial college enrollment.
HBCU enrollment increases estimated household earnings among Black students by 6.8%.
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