HCC is a gateway to education, to jobs and to the future.
It is no accident that more and more students are turning to Houston Community College for an education, training and hope for the future. HCC is giving people opportunity to grow through education.
It is true that in difficult economies people turn to higher education, but they are coming to us in extraordinary numbers. Our growth trajectory is remarkable with more than a 30% increase in just the last two years. Today, we are educating more than 72,000 students each semester, on our way to 75,000 this term. While this is impressive, more impressive is our comparison to other community colleges in the state, which averaged an 18% increase. Our dual enrollment/high school students now top 7,500 (6.7%) and on-line students exceed 14,000 (22%).
And we are handling enrollments more efficiently as evidenced by the number of sections at capacity as of fall census -- from the 11.5% in 2009 to 43.5 % this semester while keeping average class sizes small, at 22 to 1... the result of team work by administrators and faculty as we do more with less!
Financial aid has helped ease the cost of attendance by increasing dramatically from $50 million in the 2008 academic year to $119 million dollars disbursed for the 2010 academic year, representing a 131% increase.
We introduced two innovations for the fall 2010 semester, examples of why students are choosing HCC: renting textbooks to reduce costs by 40% and offering on-campus living options through a partnership with the University of Houston.
And we are not just bringing new students in the front door... we are retaining them too. The new magic word is COMPLETION -- course completion, college completion, completion by design, completion to degree, time to completion -- you get the idea! Our Achieving the Dream outcomes have received national recognition. 74.8% of first-time students persisted from Fall 2008 to Spring 2009, a dramatic improvement from the 68.2% from Fall 2001 to Spring 2002. Thanks to our dedicated faculty and staff, strategies implemented and research conducted through Houston Endowment and Lumina and Gates foundation funds, over the last two years we have kept more than 1,400 students in school who otherwise would have left. Named as one of 15 national Leader Colleges, we are moving the needle at the developmental education level. And our transfer rate has increased to 40.5%.
With one of the largest and most diverse student bodies in the country, our Associate Degree graduates earn an average of $59,700 annually, 35% more than students with a high school diploma. They enjoy a 14.9% average rate of return on their HCC investment. And those who are no longer attending HCC continue to contribute to the regional economy while students who come from outside our area bring in an additional $102.6 million annually to our economy.
We are always looking to strengthen and grow our offerings to meet the community's needs -- through new academic courses and innovative career programs. Twenty-five of our workforce programs are recognized as exemplary by the state of Texas, more than any other community college in the state. Our graduates are prepared to work and contribute immediately.