Is CEGEP worthwhile?
Whether to integrate into the labour market or to pursue university studies, each year, 50,000 young people graduate from CEGEP with a college diploma (DEC). This in itself is already a success. But, according to recent studies by the KPMG-SECOR firm, investing in the CEGEP network, as we have collectively done for nearly 50 years in Québec is also a choice that pays off.
Here are a few facts and statistics that show beyond a doubt that choosing CEGEP is still beneficial…
- During his or her lifetime, every DEC holder obtains an annual return of 16.6% on what was spent for his or her college studies… a return on investment rarely seen!
- On average, a DEC holder’s standard income is 31.6 % higher than a holder of a high school diploma, or an additional $560 000 during his or her working life.
- Holders of a DEC also have a lower unemployment rate than those with a high school diploma which is 33 % higher than that of CEGEP graduates.
- The CEGEP network brought in 9.8 billion dollars to the Quebec society in 2012-2013.
- Of these 9.8 billion, 6.5 billion dollars came from the increased productivity of college students. This increase in productivity was mainly due to the personal and professional development of young people, the CEGEPs primary mission.
- CEGEP graduates have higher incomes than holders of a high school diploma and paid 1 billion dollars more in taxes in 2013.
- CEGEP graduates are less likely to need welfare, which represents a savings of 145 million dollars each year for Quebec.
- CEGEP graduates are also more likely to engage in healthy lifestyles which reduce the cost of health and social services in Quebec.
To learn more…
Consult the study of the KPMG-SECOR firm, “La contribution économique des cégeps et des centres collégiaux de transfert de technologie” (Read the section, Le cégep, c’est payant! of L’actualité.