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Discussion Paper
Following the Money: State and Local Funding for Community Colleges in the Fifth District
Public colleges and universities (including community colleges) represent the largest sector of undergraduate higher education in the United States. In the fall of 2023, community colleges and public four-year universities enrolled 73 percent of all undergraduate students. These institutions receive most of the public state and local funds designated for higher education, but the level and composition of funding varies across states and institution types.State funding formulas have historically directed significantly more money toward four-year institutions than to community colleges — a ...
Journal Article
New from the Richmond Fed’s Regional Matters blog
Journal Article
Viewpoint: competitiveness and the community college
Bill Green is living proof that community colleges can lead to a great career. In this ?Viewpoint,? he makes the case that they also can help U.S. business maintain its competitive edge while improving the economic resilience of local communities.
Journal Article
Partnering Colleges with Their Communities
The U.S. Department of Housing and Urban Development (HUD) assists historically black colleges and universities (HBCUs) with grants through the Office of University Partnerships. The office helps the HBCUs expand their role and effectiveness in addressing community development needs in their local regions. HUD grants are awarded to help revitalize neighborhoods and promote affordable housing near HBCU campuses.
Discussion Paper
Student Parents: The Power of Wraparound Supports
Many community college students juggle work and family responsibilities alongside their academic pursuits. Wraparound services — such as transportation assistance, child care, mental health counseling and housing — help students meet their non-academic needs, which improves colleges' retention and completion rates. These services also attract adult learners, a key population of community college students.As we have written about previously, funding wraparound services is complicated. Community colleges rely heavily on local, state, and federal funding for their academic programs, but this ...
Discussion Paper
The Higher Education Emergency Relief Fund (HEERF) and Its Impact on Fifth District Community Colleges
As part of the various government stimulus programs in response to the COVID-19 pandemic, institutions of higher education received a total of $77 billion via the Higher Education Emergency Relief Fund (HEERF). HEERF included funds for a broad array of higher education programs, but most funds were allotted for direct student support and for institutional purposes.The CARES Act and the American Rescue Plan required that at least 50 percent of a college or university's HEERF allotment be given to students in the form of direct grants. The Coronavirus Response and Relief Supplemental ...
Journal Article
Community colleges and economic mobility
This paper examines the role of community colleges in the U.S. higher education system and their advantages and shortcomings. In particular, it discusses the population of community college students and economic returns to community college education for various demographic groups. It offers new evidence on the returns to an associate's degree. Furthermore, the paper uses data from the National Survey of College Graduates to compare educational objectives, progress, and labor market outcomes of individuals who start their postsecondary education at community colleges with those who start at ...
Speech
Building the Post-COVID Pipeline: Invigorating Community Colleges
In February, more than 61 percent of the U.S. population was working—the largest share since the Great Recession. In April, the share dropped almost 10 percentage points, to 51.3 percent, with even larger declines for younger workers, women, minorities, and people with less education. While there has been steady recovery, in October the employment-to-population ratio was still 3.7 percentage points lower than before the pandemic. There are 9 million fewer people employed today than in February.With so many people looking for work, how is it possible that so many employers tell us they are ...
Discussion Paper
The Changing Role of Community-College and For-Profit-College Borrowers in the Student Loan Market
In the first post in this series, we characterized the rapid transformation of the higher education market over the 2000-2015 period, a transformation that was led by explosive growth of the for-profit sector of higher education. In the second post, we found that most of this growth was driven by nontraditional students entering these institutions. Given this growth and the marked change in student composition, it is important to understand what impact these patterns might have on student loan originations, student loan volume, and the borrower pool in the various sectors of higher education. ...
Journal Article
President's Message: Zooming in on Community Colleges
Even as overall labor market conditions have normalized over the past year, employers in the skilled trades continue to report a lack of available workers. The overall supply of workers has improved, but the supply of workers with the right skills remains limited.Employers are not the only parties invested in strengthening the talent pipeline. Communities recognize that to be competitive, they need a strong workforce.