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| Early education: A wise use of stimulus funds Boston Business Journal, Op-Ed by Margaret Blood and Rick Lord, April 17, 2009 “A crisis is a terrible thing to waste,” President Obama has said of our nation’s financial troubles. Indeed, the passage of the federal stimulus bill and the potential for Massachusetts to receive $9 billion in direct federal aid provides an unprecedented opportunity to invest in our state’s future. The decisions we make will determine whether this infusion is a long-term recipe for economic prosperity, or just a quick fix. Economists have repeatedly noted that the surest route to economic development is to invest in human capital – our most vital resource – by improving the skills and knowledge of future workers. One of the best places to start is with high-quality early education. Research has shown that high-quality early education improves school readiness and increases academic achievement, thereby lowering educational costs. Low-income children are 40% less likely to need special education or be held back a grade, 30% more likely to graduate from high school, and twice as likely to go to college. These benefits have been shown to carry on into adulthood, and the Minneapolis Federal Reserve Bank has estimated that high-quality early education produces a 16% return on investment. But key to realizing these benefits is ensuring that programs are high-quality. Approximately 70% of all children in Massachusetts are in a formal early education program, but only 43% of available spaces are accredited – a national standard for quality – and only 30% of classroom teachers possess a Bachelor’s degree or higher. Massachusetts has taken a lead on this issue, with the Legislature unanimously passing and the governor signing An Act Relative to Early Education and Care last summer, formally codifying Massachusetts’ Universal Pre-Kindergarten (UPK) program, and allocating funding over the past few years for UPK classroom quality grants. Governor Patrick has identified high-quality early education as a core component of his Education Action Agenda and deserves praise for his efforts to protect early education funding despite our challenging economic situation. Indeed, a growing chorus of national leaders now recognize the clear benefits of high-quality early education. At the beginning of Fiscal Year 2009, 32 states and the District of Columbia increased total state spending on pre-kindergarten to $5.2 billion dollars. The federal stimulus bill presents Massachusetts with a once-in-a-generation opportunity to shape our society for the better. According to Nobel Laureate in Economics James Heckman, “The best evidence supports the policy prescription: invest in the very young and improve basic learning and socialization skills.” We would be foolish not to follow this advice. Margaret Blood is the founder of the Early Education for All Campaign, a project of Strategies for Children, Inc. Rick Lord is the President and CEO of Associated Industries of Massachusetts. |
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