Mass. publishes new data highlighting economic impact of higher education

(WGGB/WSHM) - Massachusetts Governor Maura Healey delivered new data that highlighted the economic impact of recent college affordability investments from the state.

Wednesday’s announcement essentially said that “Massachusetts degrees pay off.” The Department of Higher Education shared new numbers that show those who graduate from public colleges and universities in the Baystate earn a significantly more than those without degrees. Specifically, they earn $20 to $30,000 more per year.

This in-depth study also highlights that individuals who pursue degrees in high-demand fields, such as health sciences, stem, and the skilled trades experience the most significant boost in their post-graduation earnings.

Governor Healey attributed a portion of this success to her administration’s dedication to making college more accessible and affordable. A key initiative involves doubling state financial aid, a move that translated to over $130 million in savings for Massachusetts students in the 2023-2024 school year alone. The state has expanded opportunities by offering free tuition and fees at community colleges for all, and to Pell Grant-eligible students at public two- and four-year institutions.

The long-term benefits extend beyond individuals; public higher education graduates are more likely to remain and work in Massachusetts, directly reinvesting their earnings and talents into our state’s economy. However, the Governor emphasized that efforts in higher education are ongoing, “so the bottom line is that we’re going to continue to look for any number of different ways to create opportunities for people in the state. Opportunities so that they can succeed, go out and make money, that their families will have greater economic mobility. And as a result, we’re going to see our state do even better and better.”

To ensure continuous oversight and transparency, the Department of Higher Education will now annually update its post-college earnings metrics on a public dashboard. It will track both student and state success. But Governor Healey says that the data is clear, Massachusetts degrees truly do deliver.