Boosts the Local, State and National Tax Bases
Private, nonprofit higher education generates a total of $77.6 billion in local, state and federal tax revenue annually as a result of operations, student spending and visitor spending. These colleges and universities are an integral part of sustaining a strong tax base through their operational spending, employment, student spending on costs of daily living (exclusive of tuition, fees and on campus housing) and visitor spending on campus for conferences, meetings and events. Specific taxes generated include employee and employer contributions to social insurance funds, sales taxes, personal property taxes, taxes paid on motor vehicle licenses and payments of fines and fees.