Investing in Education During Tough Economic Times

With the struggles on both Main Street and Wall Street, the collapsing housing market, and the global financial worries, it's hard to think about making serious financial investments. After all, the banks are hoarding their money, shouldn't we?

In the state of Oregon, this question has been answered with a resounding 'NO.' In the past election, voters in Multnomah County narrowly passed a 374 million dollar bond measure, allowing funds to be channelled into Portland Community College. The money is earmarked for specific science studies, improving worn and outdated technology for students, and buildings in disrepair. While it cannot be used to hire more instructors, this large initiative speaks to the growing concern for the educational system.

Interestingly, the growing need for education reform has trumped the rising concern for economic frugality. By opening the State's pockets, the voters have illuminated a very progressive and visionary approach to handling the financial crisis. Fiscal responsibility is vital, but as important are social and education programs that sustain the economy.

Some of the materials in the science labs at PCC is so outdated, that certain professors can remember using identical scopes and machines during their undergraduate studies. The failing technology is beginning to take a toll on the student body as student's complain of it underperforming and affecting their test results. Continued pressure from administration and the teaching staff forced the issue onto the ballot, offering the voters a chance to voice their concern as well.

The bond sales have further-reaching affects as well. While, as stated, the funds cannot be promised to new staff at the College, it will be funneled into tuition assistance and expansion of current curricula. Teachers and students alike are excited by the prospect of state-of-the-art tools and facilities, and the chance for a financial leg-up in the coming semesters.

WIth the struggling economy, PCC gets more and more applications for its highly-regarded Radiology program; the academic study which will most benefit from the bond sales. Recent graduates are struggling to find work in their academic fields, and the understaffed medical fields like radiology and nursing are seeing record matriculation. The passage of this initiative gives support to those programs swelling with new applicants and students.

However, heeding economists advice, PCC will wait to sell the bonds until the volatile and shifting economy has settled a bit.