• Print
  • Email

Chicago Fed Letter, No. 222a, January 2006
Higher Education and Economic Growth (Special Issue)
In opening remarks, Chicago Fed President and CEO Michael Moskow noted that while the relationship between education, productivity and economic growth has never been clearer, financial support for higher education has waned while costs have continued to rise. While private universities have been able to raise tuition and draw on endowments to maintain fiscal health, public universities have faced difficult times as states have reduced financial support and often limited their ability to offset cuts with large tuition increases. Moskow noted that state governments are facing competing demands for funding from K–12 education and Medicaid, among other priorities. Also, the perception of higher education as an important public good has eroded. Increasingly, Moskow said, higher education is seen as a private good with the benefits accruing to the student in the form of higher future wages and quality of life.
Having trouble accessing something on this page? Please send us an email and we will get back to you as quickly as we can.

Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

Copyright © 2024. All rights reserved.

Please review our Privacy Policy | Legal Notices