I have attached a summary of the proposed scope and finances of the College Tuition Program. A few notes:
- The Northwest Florida industry focus clusters are shared by the Chamber as well as State Economic Development organizations.
- The proposal as is only reflects 2 years of college for City high school graduate /residents
- It assumes that 100% of City of Pensacola graduates WANT to go to college.
- It assumes that the number of graduates grows at 2% per year in the City.
- It assumes "bright futures" use those state benefits.
- Student numbers come from the Florida Dept of Education
- Graduation rate comes from the Florida Dept of Education and ECSB
- Bright futures numbers also come from the Department of Education
- Tuition rates come from PJC per semester hour
- Tuition is estimated to grow at 7% per year
- State match is assumed at 50% which is conservative based on discussions with PJC staff
- City funds are limited to the $3.3 million from the airport sale and $2.1 million annually once the current debt obligation of the City is extinguished.
- It assumes no earnings of the City's surplus from investments.
As you will see providing at least a 2 year education to every child in the Pensacola City Limits that graduates from a public school is POSSIBLE and even generates a surplus to go toward additional education. Study the numbers. Think of the possibilities. Remember that implementing this plan calls for NO additional tax revenue on the citizens.
To view the presentation click the following link.