Q&A
Financial benefits and metrics of transfer programs
1:29:58
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109 sec
Council Member Eric Dinowitz and Eli Dvorkin discuss the financial benefits and metrics of transfer programs, comparing them to successful programs like ASAP. Dvorkin acknowledges that while rigorous studies like those for ASAP are not yet available for transfer programs, there are strong indicators of their potential impact.
- ASAP has become a leading national model with extensive studies showing high return on investment
- While transfer programs lack the same level of rigorous study, similar rationales for their benefits exist
- Dvorkin cites data showing CUNY graduates with bachelor's degrees earn significantly more than those with associate's degrees
- He emphasizes the importance of helping more students achieve bachelor's degrees for both individual New Yorkers and the city's economy
Eric Dinowitz
1:29:58
We do a lot of things right.
1:29:59
You know, one of I think the the successful arguments financially for a program like ACE and ASAP is the is actually the financial benefit from the program.
1:30:10
There have been a number of studies which have shown incredible return on investment for every dollar invested in ace and ASAP.
1:30:19
And for programs like a a transfer accelerator do similar metrics exist?
Eli Dvorkin
1:30:25
You know, great question.
1:30:26
Well, first of all, I would say not quite at the level of, you know, the the rigor behind, for instance, you know, ASIN ASAP.
1:30:33
And ASAP in particular, which has just become this leading national model that's been studied extensively.
1:30:37
But I think a lot of the same team kind of rationales are in place.
1:30:42
So the starting point for for our research, and it kind of answers the question from from council member Brewer, but you know, the the median CUNY graduate who earns a bachelor's degree is earning almost $69,000 a year.
1:30:53
You know, by comparison, Somebody with just an associate's degree, $53,000.
1:30:57
You know, no college degree, $38,000.
1:30:59
So part of what I would look at in terms of the outcomes is if the program seeks seeds and significantly boosting the number of transfer students who actually achieve that goal of a 4 year degree.
1:31:09
The benefits for them in terms of a lifetime of of additional earnings are significant, you know, on the order of about $1,700,000 across a lifetime of work.
1:31:17
So if you try to kind of understand the cost benefit analysis there, I think there's very similarly persuasive data.
1:31:23
What's still emerging is really understanding the benefits of the all of those Pacific Interventions, including the T Rex Explorer Tool and embedding it earlier.
1:31:31
And, you know, CUNY has obviously stated the intention to follow-up on how that's working and be able to build the evidence base there.
1:31:37
But in terms of the case for how important it is for New York's New Yorkers and for New York City's economy to help more students who aspire to a bachelor's degree to actually achieve 1, the data there, I think, is very strong.