Staff report
When it comes to return on investment, a recent report by the University of Kentucky Center for Business and Economic Research (CBER) suggests investment in preschool education is tantamount to academic and economic success.
Ironically, the report was released nearly simultaneously with word out of Frankfort that funding for public preschool programs could be on the chopping block due to a continued budget shortfall.
Governor Steve Beshear has called for state agencies to put together 6 percent spending reduction plans. Education officials have said SEEK funding would not be touched in their plan, but that ancillary programs such as dropout prevention, gifted and talented education and preschool programs may face the ax.
While some state leaders may suggest pre-k education is expendable with their budget cut plans, CBER found a $5 to $1 return on investment in expanding preschool programs.
“When we consider the combined public and private benefits of pre-k, the total estimated benefit is more than $5 for every $1 the state would invest in an expanded pre-k program,” economists wrote in their report.
They also noted that preschool programs being opened to more children would have several other long-range effects, such as; reduced need for special education, lower incidence of crime, welfare-related savings and higher high school graduation and postsecondary enrollment rates for low-income students.
“We recognized that the state’s fiscal crisis means that new investments might not be possible in the immediate future. ... But we think it is important that our elected officials and policy leaders have information about the strong return on investment that pre-k delivers to make sure those programs aren’t cut,” said Kevin Hable of the Business Leadership Council.
There is often the public discussion of the cycle of poverty and the drag that poverty has on society and the economy. The only way to break the cycle is with eduction. An introduction to the educational system must come at as early an age as possible in order to engage children in the process and for there to be a chance to keep them involved through to high school graduation and, hopefully, beyond.
Cutting funding to public preschool programs will be a move in the wrong direction for Kentucky’s future.
