Average Earnings Earnings in Each Year Aber Graduation hy Co-op participation 15 Co-op 14 $14,618 $14,975 Non Co-op 13 We find that the benefits of work-based learring are also reflected in graduates' paychecks. Students who participate in work-based learning have higher average annual earnings than their class- mates in all four years after graduation. Although the carnings gain enjoyed by Co-op students diminishes over time, Co-op students earn about $3,300 more than theit classmates overal! $13,545 $12,930 12 11 Thousands of Dollars 811,742 $10,033 10 9 $8,722 $7A07 7 6 1 Yester 2 Yeaus aller 3 Yer Aler 4 Years Alter Cruilles Graduaten Graduation Graafin Work-based learning participants earn more than their classmates Whend laminm. Work-based Learning: Benefits from the Student's Perspective The study finds that work-based learning has Beuron livestment for Co-op Students immediate financial benefits for students. As Co-op course cost compared to increased first year earnings shown above, students with Co-op experience earn $1,225 more in the first year of work Given the $1225 reasonable cost of taking classes in the community colleges', students participating in work-based learning can therefore earn back their course fees and materials costs up to 10 times over in just one year. This additional income also generates benefits to communities, as well as higher tax revenues to the State $1200 $1000 $800 $800 $400 $200 0 $125 Cost to CCC Student Additional for Co-op Courses Estimated Earnings Werk-bused larmning participants in a substantia! return on their Co-op concestortent The mean number of credies for students who took these courses is 48. Ar $18 per unit plus modest direct expenses. Voc estimate average Secus for Co-op to be $23 per unit of $125 for sure 3. Co-op students can expect to eain more than non-coop students. How much more will they earn? 4. Calculate how much this extra earning would be at the end of 30 years if it can be invested at 5% interest per year