38 Chapter 3: Methodology Table 3.4: Projected benefits and costs, Business program student perspective, FY 2021-22 1 2 3 4 5 6 Year Gross higher earnings to students (millions) % active in workforce* Net higher earnings to students (millions) Student costs (millions) Net cash flow (millions) 0 $1.6 9% $0.1 $10.4 -$10.2 1 $1.6 16% $0.3 <$0.1 $0.2 2 $1.7 25% $0.4 <$0.1 $0.4 3 $1.8 42% $0.8 <$0.1 $0.7 4 $1.9 67% $1.3 <$0.1 $1.2 5 $2.0 96% $1.9 <$0.1 $1.9 6 $2.0 96% $2.0 <$0.1 $1.9 7 $2.1 96% $2.0 <$0.1 $2.0 8 $2.2 96% $2.1 <$0.1 $2.1 9 $2.2 96% $2.2 <$0.1 $2.1 10 $2.3 96% $2.2 <$0.1 $2.2 11 $2.4 95% $2.3 <$0.1 $2.3 12 $2.4 95% $2.3 <$0.1 $2.3 13 $2.5 95% $2.4 <$0.1 $2.4 14 $2.6 95% $2.4 <$0.1 $2.4 15 $2.6 95% $2.5 <$0.1 $2.4 16 $2.6 94% $2.5 $0.0 $2.5 17 $2.7 94% $2.5 $0.0 $2.5 18 $2.7 94% $2.5 $0.0 $2.5 19 $2.7 94% $2.6 $0.0 $2.6 20 $2.8 94% $2.6 $0.0 $2.6 21 $2.8 93% $2.6 $0.0 $2.6 22 $2.8 93% $2.6 $0.0 $2.6 23 $2.8 93% $2.6 $0.0 $2.6 24 $2.8 92% $2.6 $0.0 $2.6 25 $2.8 92% $2.5 $0.0 $2.5 26 $2.7 92% $2.5 $0.0 $2.5 27 $2.7 91% $2.5 $0.0 $2.5 28 $2.7 91% $2.4 $0.0 $2.4 29 $2.6 90% $2.4 $0.0 $2.4 30 $2.6 90% $2.3 $0.0 $2.3 31 $2.6 89% $2.3 $0.0 $2.3 32 $2.5 89% $2.2 $0.0 $2.2 33 $2.5 88% $2.2 $0.0 $2.2 34 $2.4 87% $2.1 $0.0 $2.1 35 $2.3 87% $2.0 $0.0 $2.0 36 $2.3 86% $2.0 $0.0 $2.0 37 $2.2 85% $1.9 $0.0 $1.9 38 $2.1 84% $1.8 $0.0 $1.8 39 $2.1 83% $1.7 $0.0 $1.7 40 $2.0 82% $1.6 $0.0 $1.6 41 $1.9 81% $1.5 $0.0 $1.5 42 $1.8 79% $1.5 $0.0 $1.5 43 $1.8 78% $1.4 $0.0 $1.4 Present value $37.4 $10.6 $26.9 * Includes the “settling-in” factors and attrition. Source: Lightcast impact model Payback period (years) 7.9 Benefit-to-cost ratio 3.5 Internal rate of return 14.7%
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