ATLANTA — The University System of Georgia says its graduates contributed $23.1 billion to the state’s economy in fiscal year 2024, marking a 5.4% increase from the previous year, according to two new studies.

The studies revealed that recent graduates from USG’s 26 public colleges and universities can expect to earn $1.4 million more over their lifetimes due to their degrees.

This economic impact includes $15.2 billion in initial spending by students and institutions, with an additional $7.9 billion generated through the multiplier effect in local communities.

[DOWNLOAD: Free WSB-TV News app for alerts as news breaks]

“A degree from one of USG’s 26 public colleges and universities is a million-dollar deal for graduates and a billion-dollar boost for Georgia,” USG Chancellor Sonny Perdue said in a statement. “Students see real returns through higher earnings and better opportunities. Meanwhile, our institutions power Georgia’s economy and help local communities thrive.”

TRENDING STORIES:

The two studies found that USG generated 168,635 full- and part-time jobs across Georgia, with 32% of these positions being on-campus jobs and 68% off-campus.

For each job created on campus, two additional jobs are generated in the local community, the USG said.

Bachelor’s graduates from the Class of 2024 will earn, on average, over $1.4 million more than they would without a college degree.

The analysis showed that the 73,006 USG graduates from the Class of 2024 can expect combined total lifetime earnings of $230 billion, which is $73 billion more than they could expect to earn without finishing college or graduate school.

The study also found that high school graduates who get a bachelor’s degree will see their work-life earnings in Georgia 82% higher, which beats out the 80% increase estimate for the United States, at large.

Both of the studies cited by USG were conducted by Dr. Jeffrey M. Humphreys, director of the Selig Center for Economic Growth at the University of Georgia’s Terry College of Business.

[SIGN UP: WSB-TV Daily Headlines Newsletter]

©2025 Cox Media Group