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Measuring the Economic Success of Florida’s Graduates
2020 Economic Security Report Summary

Figure 2. Number of Graduates by Credential

Debt

Student debt is a growing concern nationwide. Totaling more than $1 trillion, student
debt now surpasses outstanding credit card debt and automobile loans and is second
only to home mortgages. Many students default on their loans, and because student
loans cannot be discharged in bankruptcy, the consequences of accumulating debt that
cannot be paid off can be long-term and financially devastating. The average statewide
federal loan amount per student at Florida’s postsecondary higher educational
institutions was slightly more than $5,400 (this amount is averaged across all students,
not only students who have loans, and does not include private loans or other debt
issued by non-federal government sources).

Where the Jobs Are

The earnings that graduates command are not only a function of the programs from
which they graduate but also of the strength of the labor market into which they enter.
The top three industries that expect to add the most jobs in Florida, after food services
and drinking places (which was significantly impacted by COVID-19), are administrative
and support services (102,829 jobs), ambulatory health care services (95,850 jobs), and
professional, scientific, and technical services (83,304 jobs). With projected growth
between 14% and 17%, these industries are expected to add a significant number of
new jobs between 2020 and 2028.

Progress

This is the seventh annual Economic Security Report (with six years of comparable
data). Therefore, there is enough data to draw some conclusions about the progress
made over the past six years. In nearly every case, median first-year salaries have
increased steadily. The exception to this general pattern has been graduates from
apprenticeships and advanced technical certificate programs that saw modest
decreases in the most recent year.

March 2021 20B| P a g e