Texas is losing students and the economy at a rate of 1.6% per year, according to new data released by the Texas Department of Education.
That is a rate far below the national average of 1% per annum and far below what the state’s other states and the nation as a whole have seen.
The department also noted that the rate of attrition for the 2016-2017 academic year was the highest in the nation at 31%, with only five states having a higher rate.
The department is currently studying how to prevent the trend, which has been dubbed “the death spiral.”
The department is already struggling to meet the needs of students, staff and students who graduate in less than two years.
To prevent the death spiral, the department has set a goal to reduce attrition by 15% by 2022, the most recent year data is available.
“We are in a place where we can no longer afford to do this job without losing the ability to attract and retain the best and brightest from around the country,” Governor Greg Abbott said.
The report notes that, according the Department of Commerce’s Bureau of Economic Analysis, Texas was one of only three states with a GDP growth rate of less than 2% per capita. “
Texas has been the number one education state in the country for decades, and we have to continue to do the best job we can.”
The report notes that, according the Department of Commerce’s Bureau of Economic Analysis, Texas was one of only three states with a GDP growth rate of less than 2% per capita.
It also noted the state has a $1.3 trillion budget deficit, a $934 million deficit in the 2016 fiscal year, and $1 billion in unpaid bills.
This year alone, the state is expected to have more than $3 billion in uncollected student debt.
Texas has not released a budget this year and is not scheduled to do so until 2019.
With this latest data, the Texas Education Agency said that, despite being the fourth-largest state in terms of population, it still faces significant challenges.
In fiscal year 2016, the agency spent $14.4 billion on education, up from $11.4 million in fiscal year 2015.
According to the department, Texas has the fifth-largest student debt in the US, with $15.6 billion owed to students, with more than a quarter of that amount owing to students whose parents don’t qualify for free or reduced-price lunch programs.
In the last five years, the number of students attending private schools has increased by nearly 30%, the report said.
More to come.