Some Facts About Catholic Education
One of the most important decisions a parent can make is where they send their children to school. Not only is a solid academic program the key to future financial independence, but outside of family life, a child's school experience typically has the most impact on their faith and morals. Catholic schools are an excellent provider of this foundation and represent a great investment!
Consider these facts:
- The average college graduate will earn $932,000 more than the average high school
graduate (U. S. Census Bureau, 2004);
- More than 95% of 2006 Catholic high school graduates are attending college;
- More than half of last year's Catholic high school graduates earned an academic
scholarship or grant with a total value of about $27 million;
- College students who take additional time to graduate can cost a family $50,000 per
year. The national average for students graduating from college in 4 years is 39% and 5 years
is 63%. A recent survey of Dayton area Catholic high school grads shows 63% graduated from
college in 4 years while 94% finished their degree within 5 years.
- Academic performance in college is a significant determinant in starting position opportunities. Assuming that each student will receive a 4% increase each year the 40 years earnings of a $20,000 starting salary is $1,977,000; for $30,000 it is $2,965,000; and $3,953,000 for a $40,000 start.
The bottom line is ... Dayton Catholic schools have high academic standards and excellent performance results which translate into impressive lifetime earning opportunities for most graduates!
Unfortunately, the cost of Catholic schools has strained many household budgets and, in some cases, the affordability issue has put Catholic education completely out of reach. But a new program called Partnerships 4 Success may be the answer for those Catholic families who want to get, or be able to keep, their children in Catholic schools.
As seen in the Catholic Telegraph (Nov. 10, 2006, page 23), Partnerships 4 Success assists Catholic families in finding part-time jobs as a way to pay tuition costs. The program was launched in early 2006 by a group of local Catholic educators, business people and religious representatives. It is not affiliated with any one parish.
Having an extra, part-time job could be the key for many families who want to make the investment in a Catholic education. For example, working 16 hours a week at $8 an hour translates into more than $6,400 of income per year. "What this shows is that a modest effort should allow enough discretionary income to get many families over the tuition hurdle," said George Molinsky, retired businessman and chairman of the Partnerships 4 Success program.
| Work Schedule | $6/Hour | $7/Hour | $8/Hour | $9/Hour | $10/Hour | $12/Hour |
| 10 Hours per week | ||||||
| 50 Weeks | $3,000 | $3,500 | $4,000 | $4,500 | $5,000 | $6,000 |
| 40 Weeks | $2,400 | $2,800 | $3,200 | $3,600 | $4,000 | $4,800 |
| 30 Weeks | $1,800 | $2,100 | $2,400 | $2,700 | $3,000 | $3,600 |
| 20 Hours per week | ||||||
| 50 Weeks | $6,000 | $7,000 | $8,000 | $9,000 | $10,000 | $12,000 |
| 40 Weeks | $4,800 | $5,600 | $6,400 | $7,200 | $8,000 | $9,600 |
| 30 Weeks | $3,600 | $4,200 | $4,800 | $5,400 | $6,000 | $7,200 |
| Summer Work | ||||||
| 40 Hours - 10 Weeks | $2,400 | $2,800 | $3,200 | $3,600 | $4,000 | $4,800 |
| 40 Hours - 12 Weeks | $2,880 | $3,360 | $3,840 | $4,320 | $4,800 | $5,760 |
| Substitute Teacher | ||||||
| 50 Days - $75/day | $3,750 | |||||
| 100 Days - $75/day | $7,500 | |||||
| Babysitting | ||||||
| 100 Hours - $10/hour | $1,000 | |||||
| 200 Hours - $10/hour | $2,000 |
If a part-time income will allow your children to enter or stay in a Catholic school and you are interested in receiving assistance with finding part-time work, complete and return the confidential "Prospective Employee" form.
If your business or home needs a quality part-time worker, return the "Prospective Employer" form.
If you have any questions, please call George Molinsky at (937) 433-1188, extension 213. Keep in mind that there are also financial aid programs available at various schools.
As you make this critical decision, please recognize that the positive experiences and likely success of your Catholic school educated children will provide a higher probability of your grandchildren going to Catholic schools. Leaving a legacy is about the future - how can you change it, mold it, and inspire it. When thinking about your children and their children, is there a better legacy than a Catholic education?
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