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Several studies suggest that economic development is directly correlated with the quality and the rate of access to education in a state. Similarly, there is a strong link between the quality of education and the number of resources allocated to promoting education in the states. About 50 years ago, there was a high trend in high schools attendance leading to high graduation rate, but the level of enrolment was quite low. This led to increased productivity of workers and hence an increase in economic growth.
Economic growth led to increasing in resources provided to cater for education and a high motivation to keep up with the growing wage difference between high school graduates and dropouts as dropout wages declined while the wages of graduates increased. As years went by the internal rate of return to graduating versus dropping out increased, and this led to a rise in enrolment as more wanted to acquire skills to improve their earnings. Some of them are in partial employment and the need for balancing their work, and studies are always hard, and they tend to drop out to keep their jobs rather than study.
The overall effect of poor funding of public education is declined economic trends in various states as the level of education output is low and lacks the required skills. Over the years, due to the increase in incentives for high school graduation, the high school attendance increased, but the graduation rate gradually decreased. This reduction in graduation rate has led to a lower rate of college attendance as most students on attaining high school degree tend to search for employment.
This was due to over-stretching of resources such that there was not enough to cater for increased student attendance. This was also due to lack of enough preparation of the enrolled students and increase in time of attainment of degrees. In recent years the high school enrolment has gradually increased, and the resources available have decreased tremendously. The funding allocated has become inadequate for the public schools and resources are being overstretched to cater for a large number of students attending school. Due to this underfunding the number of teachers available decreases tremendously, and as such class sizes increase as students are combined so that they could be handled by the few teachers available.
Public education spending per student has changed drastically over the years as the world develops, and new resources are discovered. If we go 50 years back, the student spending was insignificant as it was only just a little spending on writing materials and quite cheap trips and research funding of which most of the funding itself was done by the state government. As the years went by, economic growth became vibrant, inventions, and improvements in technology were on the rise.
This lead to more research being done in schools and a lot of resources being required and as the number of students is quite large such that the government could not cater for all students it led to student chipping in to attain the required skills and education. Nowadays, students need to acquire laptops, research materials, books to keep up with the highly trendy education system and spend quite a lot than 50 years ago. They also need to make contributions to support different projects undertaken by the school like constructions and field trips.
Public education spending and taxes have a significant impact both positively and negatively on economies of different states. Direct effects commence with direct spending on education in which the expenses could include salaries paid to teachers, administrators, maintenance costs, transportation costs, and purchasing costs for various goods and services. The direct impact of public education affects the persons receiving money for offering various services and goods, and this direct spending on education influences other factors of economic development. For instance, salaries paid to teachers are spent within a state in payment of services and to promote consumer spending.
The expansion of education facilities would involve the use of state construction and maintenance services, and this would increase the number of people indirectly employed by huge funding toward education and reduce congestion in the public schools. Also, if institutions of learning purchase goods and services from local businesses, then the businesses improve their sales and performances. We also see that some of this public spending is used to employ new teachers who help ease the congestion in classes.
Data on the 50 states in the U.S. about public education spending, high school graduates, and college attendance reveal crucial trends that are essential in making critical decisions in education management. All the 50 states show upward trends in the amount of funding of education varying from one state to another for the past 50 years. Thus it can be concluded that education budgets have been reflecting socioeconomic dynamics within states and reveal the level of importance that education authorities have attached to public education. This reflects the past 50 years as the number of students enrolling increases as years go by with the states improving the outreach strategies to bring more students to schools.
If states have not been providing significant funds toward building facilities and employing teachers, among other activities, the number of students transiting from high schools to colleges would be low. The state has also in recent years has created opportunities for high school students to attain college scholarships and also restructured college education so as the students can attain degrees promptly.
The correlation between increased public education spending with high school and college enrolment is a clear demonstration that public education is the key to expanding educational access and quality as those who graduate are highly skilled and enhance production improving the economic status of the state at large. Another key feature of the data on the 50 states is the fact that top states in terms of public education funding are also leading in the number of high school graduates and college enrolment. On the other hand, states that have consistently been at the bottom in funding public education have been recording lower percentages of students graduating from high school and joining colleges.
The parents education level and per capita income have changed over the years regarding the education levels. Fifty years ago, the wage difference was very low between dropouts and graduates, and hence, parents could easily afford to pay education for their children and also to acquire the necessary equipment needed. As years went by the wage rate steadily grew and this led to a decline in wages of dropouts and increase in wages of graduates.
Dropout parents often find themselves stuck and can not manage to cater for their childrens education needs as they are also increasing and their salaries are low, and so they end up dropping out. On the other hand, graduate parents earn a higher wage and can cater to their childrens education needs, which are highly increasing while the few who can afford to remain in school, the rest dropout to search for jobs or work part-time to cater for their education.
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