A University of Central Arkansas graduate will receive a cumulative $5.30 in higher income on each dollar invested at the school, a recent study indicates.
A student economic impact report compiled by UCA and Economic Modeling Specialists Inc. was released Monday.
The firm, which produces similar reports for higher education institutions worldwide, applied a “comprehensive model designed to quantify the economic benefits of UCA,” officials said.Findings are translated into commonly used financial terms of benefit, cost and investment. A student who invests in the school, for instance, can expect a payback period of 10.7 years, according to the firm.
Beyond the investment analysis, which centers on the student or graduate, the report offers an economic growth analysis that provides insight into UCA’s impact on what the firm has determined to be the school’s service area. The six counties in the UCA service area are Perry, Faulkner, Pulaski, Saline, Lonoke and Grant.The report boasts a net added income for the school’s service area of $96.6 million. A total of $78.6 million annually is generated from UCA’s general operations, $378,300 by visitors to the school, and $17.6 million is contributed by non-local students, the study reports.