Preschool Promise plan could save big dollars, study finds
A University of Cincinnati study suggests Cincinnati could save $48 million if its Preschool Promise plan is successful.
The UC Economics Center report finds the economic benefit per three-year-old class could be as large as $69.1 million if all students enrolled in the plan. However, it says similar programs in other cities usually have about 70 percent participation - leading to the $48.4 million estimate.
The Preschool Promise aims to make sure all three-year old's get two years of quality preschool before kindergarten.
When local business, school and city officials announced the program last spring, they estimated it would cost $6 - 9 million dollars per year.
From the UC study:
Public Savings and Benefits from Quality Preschool
Average savings per student
Reductions in school system expenditures.
Reduction in teacher costs.
Increase in parental taxes.
Reduced crime and criminal justice costs.
Reduced health care and social service costs.
Increase in student taxes (income and sales) over a 47 year work life
The total average annual benefits per enrollee
The Economics Center will conduct a second phase which will evaluate the costs of providing universal, quality preschool. Completion of this phase of the study will yield a full cost/benefit analysis of the Cincinnati Preschool Promise.