School pays - big time

The start of the 2011-12 school year is less than seven weeks away.

For some high school-aged students, however, it's already over.

On Sept. 6, when their classmates are headed toward hard work but bright futures, these students will give up. By quitting school they won't just be giving up on a high school diploma, either. They'll be giving up on lots of cash.

A new study released Monday by the Alliance for Excellent Education counts billions of ways in which the nation's economy is strengthened by modest gains in high school graduation rates. We're sorry to bathe you in numbers on your midsummer Wednesday morning, but this is one of the best ways, now and for the future, to make our country greater.

The study estimates that 1.3 million American students dropped out of the high school Class of 2010. Assuming the same numbers this coming year, here's what would happen if we managed to cut the dropout rate in half:

n The class as a whole would earn $7.6 billion more in an average year compared to their likely earnings without a high school diploma.

n By the midpoint of their careers, this class would likely purchase homes totaling as much as $19 billion more than what they would otherwise have spent without a diploma. They would also spend up to an additional $741 million in vehicle purchases during an average year.

n Because of the additional spending and investments of this class, 54,000 new jobs could be created, increasing the gross domestic product by as much as $9.6 billion annually by the time they hit the middle of their careers.

n State tax revenues would likely grow by $713 million a year.

That's the national picture. Here's one that hits a little closer to home.

In Idaho, cutting the dropout rate in half would increase earnings for our high school graduates by a total of $24 million annually and generate 200 new jobs. Still not close enough? How about this:

The average Idaho high school graduate will earn $6,519 more each year than someone without that diploma. And if the graduate goes further with her or his studies, the rewards increase, too. According to the Alliance, on average in Idaho, an associate's degree will mean an additional $11,733 in annual earnings compared to the student who doesn't finish high school. Earning a bachelor's degree leads to $22,004 more per year, again compared to the student who dropped out of high school.

Idaho does a good job combating the dropout rate. Clearly, there are plenty of incentives to do even better.

n YOUTH and the ECONOMY: In addition to cutting into the dropout rate, another way to bolster the economy is to help reduce the rate of teen pregnancies. If you missed Sholeh Patrick's column Tuesday, go to cdapress.com and click on "COLUMNS."