It is no surprise to see a room full of business leaders, but what made the meeting on March 19, different was that the leaders in the room were focused on a different kind of investment: education. Secretary Arne Duncan set the stage for the America's Greatest Investment: Educating the Future plenary session during the United States Hispanic Chamber of Commerce Legislative Summit in Washington, D.C., by delivering remarks celebrating the educational successes in the Hispanic community and highlighting key components of President Obama's call for universal high-quality early education.
The good news is that Hispanic high school graduation and college enrollment rates have increased over the last four years. About three in four Latino high school students graduate with their class, and there are now more than half a million additional Hispanic students enrolled in college compared to 2008. But there is still a great deal of work to be done, because while college enrollment is soaring, college completion rates have not kept pace.
Secretary Duncan at the United States Hispanic Chamber of Commerce Legislative Summit in Washington, D.C.
The shortage of Hispanic students on graduation day in college has its roots at the beginning of the education pipeline. One of the best, most strategic ways to continue and build on the educational progress in the Hispanic community is to expand access to affordable, high-quality preschool while also boosting college completion rates
High-quality early education offers the highest rate of return with some studies projecting a return of $7 for every $1 spent. During his State of the Union address, President Obama introduced a new universal preschool plan that would launch a new Early Head Start-Child Care Partnership program and expand the Administration's evidence-based home visiting initiative. It would create a groundbreaking federal-state partnership that will enable states to provide universal, high-quality preschool for four-year olds from low- and moderate-income families, up to 200 percent of the poverty line.
To garner support for universal high-quality early education programs, Secretary Duncan called on business leaders "to make the case for the significant return-on-investment and greater equity that high-quality early learning will produce for America's future workforce." He continued that "business leaders [need] to encourage employees, customers, and neighbors to push for and to participate in high-quality preschool in greater numbers."
Now is the time for every child in America to have an opportunity for high-quality early education so that all students arrive at kindergarten ready to learn. As he concluded his remarks, Secretary Duncan stated, "With bipartisan backing, with your commitment and leadership, I believe our nation will soon take its next step to transform preschool education. I believe state and local leaders, CEOs, teachers, and moms and dads and grandparents will stand up and say: It is time."