Study: Halved Dropout Rate Would Increase City's Wages
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A new study shows if the high school dropout rate were reduced, it would have great financial benefits for the city.
The Alliance for Excellent Education estimates if the students who dropped out of the class of 2009 graduated, the nation's economy would have benefited from nearly $335 billion in additional income over the course of their lifetimes.
According to the study, if the dropout rate in the New York City metro area were cut in half from the current rate of 40 percent, it would mean nearly $500 million in additional wages and 14,000 new homeowners.
The study also says a large number of dropouts makes it difficult for cities and states to attract new businesses.