FOR EVERY 100 STUDENTS WHO ENTER A CPS HIGH SCHOOL ONLY 30 WILL EARN A POSTSECONDARY DEGREE.
-To&Through Project
We’re here to change things.
The Challenge: Debt-Free Higher Education
College tuition has increased nearly
1400%
since 1978.
9 out of 10
low-income, first-generation students leave without a degree.
61% of Illinois college grads who do earn a degree
leave with debt.
Hope Chicago’s scholarships remove financial barriers for CPS students and families, covering tuition, room and board, books and fees, plus an annual stipend. Hope Scholars also receive wraparound support like advising and mentoring to help them achieve their desired degree or certification. Hope Chicago is doing this with support and investment from our partner colleges and universities, non-profit organizations, and our corporate and philanthropic donors who are working to see more students and parents have debt-free postsecondary success.
INVESTING IN SUCCESS:
The Projected Impact of Hope Chicago
New research projects the social return on investment of Hope Chicago:
REMOVING FINANCIAL BARRIERS CHANGES THE GAME:
Prior to Hope Chicago, college enrollment rates at the five Hope Chicago partner high schools averaged 57%. In Hope Chicago’s first year, that number jumped to
74%
PLUS, Hope Chicago Scholars are more likely to enroll in a degree program at competitively ranked four-year institutions.
Hope Scholars aren’t the only ones who benefit. Our hyperlocal investments in students and parents from the South, West and Southwest Sides generate economic benefits and new tax revenue that pays off for everyone in Chicago and Illinois.
HIGHLY EFFICIENT AND IMPACTFUL:
Return on Investment
Every $1 invested in the program is expected to
recoup $4.20
in social and economic benefits.
Social/Economic Benefits
Hope Chicago generates value for the City, State and economy overall estimated at $215,000-$364,000 for each student who attends a postsecondary education. Looking at Hope Chicago’s first class alone, that adds up to
$143,000,000
Tax Revenues
Hope Scholars are projected to fuel state/City tax gains as high as
$38,700 each
When federal funds are included, it’s as high as $112,620.
Bottom Line: Hope Chicago’s approach projects highly impactful for students:
Debt Freedom
Increased Lifetime Earnings
Better Quality of Life
Improved Health
Less involvement in Criminal Justice System
Reduced Reliance on Public Programs
Interested in learning even more?
Watch the video to hear how Hope Scholars are processing Hope Chicago’s projected impact then check out some key takeaways and/or the full report via the links below.
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View the full report here
Source: “Hope Chicago: Social Return on Investment,” Clive R. Belfield, Professor, Department of Economics, Queens College, City University of New York; Economist, Center for Benefit-Cost Studies in Education, University of Pennsylvania. February 2023.
