Kalamazoo Promise 'significantly' increases college graduation rates, study finds
By Julie Mack, MLive
KALAMAZOO, MI — The Kalamazoo Promise "significantly" increases college college graduation rates and offers a substantial return on the dollars spent, according to the first major study of the scholarship program's post-secondary outcomes.
The biggest finding: Promise-eligible students are a third more likely to graduate college within six years of finishing high school compared to their pre-Promise peers.
The researchers also estimate The Promise yields an estimated $4.60 in benefits for every $1 invested. That means the $66 million spent so far on the program has an estimated return on investment of more than $300 million, based on the projected increase in wages over 30 years for students who wouldn't have graduated college otherwise.