It is sometimes uttered as a truism that education is a worthy thing in its own right. We know intuitively that learners benefit from education in a variety of ways. But the contributions of the educational institutions which deliver those benefits are less well understood. Further education colleges in England, for example, are trusted institutions in their local communities and educate more than 1.8 million people a year. Every penny invested in their work must have some form of return, but, until fairly recently, it has been hard to quantify.
The 157 Group has teamed up with Economic Modelling Specialists Intl (EMSI) to present this summary of work undertaken with many colleges over the past few years to try and identify the tangible benefits colleges bring, not only to individuals, but to the economy more broadly