Trostel’s Fiscal Return on Higher Education Research Focus of Mainebiz Report
Research conducted by Philip Trostel, a University of Maine professor of economics and public policy, is the focus of the Mainebiz article, “Maine’s colleges and universities struggle with shrinking budgets.” Trostel was the author of “The Fiscal Return on Higher Education in Maine,” which looks at the state benefits of greater educational attainment, such as increased tax revenue and reduced social costs. The report was released in May by the Maine Development Foundation and UMaine’s School of Economics, and is the third quarterly report analyzing critical economic indicators in Maine. The study shows a bachelor’s degree creates a 75 percent earnings increase over a lifetime, and more education translates into higher pay at every level.