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The Market |
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Hispanics are the youngest and
the fastest growing sector of the US population. There are 42 million Hispanics
living in US and 55% of them are under 30 years of age. With a median household
income of $37,781, it is estimated they will account for one trillion dollars
in purchasing power by 2010. Approximately one half of all US Hispanics
are bilingual or prefer English, but practically all Hispanics between the
ages of 18-26 are bilingual or prefer English. To the surprise of many,
most Hispanics (60%) are not immigrants at all, because they were born here
in the U.S.! In fact, since 2000, Hispanics have accounted for more than
half (50.5%) of the overall population growth in the United States, a growth
driven by the natural increase of the existing population and not by new
international migration. |
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The Opportunity |
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As the Hispanic population
continues to grow in the United States, more and more Hispanic students
are graduating from high school and attending career schools and colleges.
While Hispanics have made substantial gains, they still lag behind other
groups in career school and college-going rates. A majority of Hispanic
student prospects share demographic characteristics that are strongly correlated
with low levels of school achievement. In 2000, only 22% of Latinos between
the ages of 18 to 24 were enrolled in colleges or universities. Family obligations
and economic pressures are among the major factors driving the Hispanic
student prospect to choose work over education; only to find out later,
that in order to get ahead and generate the income they desire, proper education
and training is needed. Career school students are likely to come from medium/lower-income
families, have parents with no college education and often come from racial/ethnic
minority groups. The availability of shorter programs, schedule flexibility,
near to home or work facilities and affordability make career schools uniquely
suited to meeting the educational needs of many Hispanics. |
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Source:
Statistical data from various articles and studies published by different
sources including the Digest of Education Statistics, 2007, Pew Hispanic
Research Center, U.S. Census, Excelencia in Education, Career Colleges &
Schools of Texas (CCST) |
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