1

College Possible is a college readiness, access, and success organization that 

supports and coaches low-income students in college preparation and 

success. The College Access program operates under College Possible and 

serves students during their junior and senior years of high school. Students 

attend after-school sessions led by AmeriCorps member coaches for two 

hours twice a week throughout those two school years in a supportive group 

of college-bound peers. Coaches implement an interactive curriculum 

designed to guide students through the key aspects of preparing for college. 

Topics include finding a best-fit college, academic preparation, financial 

planning, and personal development. Summer Bridge is a component of the 

college access program that uses in-person and text-based coaching to help 

student stay on the college track over summer break.

Return on Investment Analysis

To better understand the impact of College Possible’s College Access 

program in relation to the program’s costs, AmeriCorps commissioned a 

return on investment (ROI) analysis by ICF, an independent research firm. 

AmeriCorps, a federal agency, 

brings people together to 

tackle the country’s most 

pressing challenges, through 

national service and 

volunteering. AmeriCorps 

members and AmeriCorps 

Seniors volunteers serve with 

organizations dedicated to the 

improvement of communities. 

AmeriCorps helps make 

service to others a cornerstone 

of our national culture. Learn 

more at AmeriCorps.gov.

RESEARCH BRIEF − RETURN ON INVESTMENT STUDIES

College Possible – College Access

Program

Americorps.gov
2

ROI analyses of national service programs estimate the monetary value of benefits that a program generates 

per dollar invested. The ROI analysis estimated College Access’s ROI to be between $1.50 and $6.41 per 

funder dollar, depending on how long program participants and AmeriCorps members experience 

increased earnings as a result of the program. Because the federal investment is complemented by nonfederal funding, the return on each federal dollar is even higher. The magnitude of the results are driven by 

improved employment and earnings outcomes for participants due to higher college enrollment and 

benefits to AmeriCorps members from increased lifetime earnings.

Overview of Benefits and Costs

To calculate the ROI for College Access, the program benefits were identified, quantified, and compared to 

the program’s costs. Benefits of the College Access program include:

• Increased college enrollment for College Access participants. The high school students that 

participated in College Access have higher college enrollments rates, leading to improved 

employment and earnings long-term.1

• Improved employment, earnings, and educational outcomes for AmeriCorps members.

AmeriCorps members have increased employment, earnings, and educational attainment after their 

period of national service.2

• Increased tax revenue for government. Government at the federal, state, and local levels realizes 

increased tax revenue from the improved employment and earnings of participants and AmeriCorps 

members. 

• Savings in government expenditures. Government spends less on public assistance as a result of 

improved employment outcomes of participants and employment and educational outcomes of 

AmeriCorps members.

Funding for the College Access program in the period studied totaled $5,525,583 and came from:

• Federal Government (AmeriCorps) — $1,131,498 (20%)

• Contributions and Non-federal Grants — $3,822,841 (69%)

• Other Contributions — $446,114 (8%)

• Program Fees — $125,130 (2%) 

ROI Results

The table below shows the full set of ROI results for the College Access program. Each row represents a 

different ROI calculation depending on which benefits are considered (all benefits or only benefits to the 

federal government) and which funding is considered (federal funding only, or all funding including 

contributions and non-federal grant, other contributions, and program fees ). The ROIs are presented as 

 

1 Avery, C. (2013). Evaluation of the College Possible Program: Results from a Randomized Controlled Trial. NBER 

Working Paper No. 19562, JEL No. I23,I24. Retrieved from https://www.nber.org/papers/w19562.pdf

2 Friedman, E., Freeman, B., Phillips, B., Rosenthal, L., Robinson, D., Miller, H., & Porowski, A. (2016). AmeriCorps Alumni 

Outcomes: Final Survey Technical Report. AmeriCorps (formerly Corporation for National and Community Service). 

Retrieved from https://www.nationalservice.gov/sites/default/files/

evidenceexchange/FR_AmeriCorpsAlumniOutcomesFinalTechReport.pdf. 
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dollars returned for every $1.00 of investment. The analysis used three different scenarios to estimate 

benefits under different assumptions. Specifically, the study assumed that increased earnings attributable to 

the programs last for 1 year (short-term scenario), 15 years (medium-term), or 30 years (long-term).

ROI Calculation

ROI Scenario

Short-Term Medium-Term Long-Term

Total Benefits per Federal Dollar $7.87 $23.80 $33.58

Total Benefits per Funder Dollar $1.50 $4.55 $6.41

Federal Government Benefits per Federal Dollar $4.64 $8.65 $11.09

The magnitude of the positive ROI results is driven by:

• The expected increased earnings resulting from increased educational attainment for College 

Access participants. Avery’s (2013) evaluation of College Access found that participation in College 

Access is estimated to increase enrollment at four-year colleges by 15 percentage points, leading to 

an additional 195 College Access participants enrolling in college.3 

• The employment outcomes of AmeriCorps members. According to the national AmeriCorps 

Alumni Survey Outcomes Study, the percentage of members unemployed was 5 percent lower six 

months after serving in AmeriCorps versus six months before.4 

• The educational attainment outcomes of AmeriCorps members. AmeriCorps members receive an 

education award after serving in the AmeriCorps program, which is used by a portion of members to 

help pay for postsecondary degrees post-service. That additional educational attainment increases 

future earnings.

The content of this research brief was drawn from the full AmeriCorps ROI study: Munaretto, C., Casey, B., 

Miller, B., Modicamore, D., Naugler, A., & Pershing, J. (2020). Return on Investment Study: College Possible 

College Access Program. ICF. Visit nationalservice.gov/research. 

For more information, please contact evaluation@cns.gov.

 

3 Avery, C. (2013). Evaluation of the College Possible Program: Results from a Randomized Controlled Trial. NBER 

Working Paper No. 19562, JEL No. I23,I24. Retrieved from https://www.nber.org/papers/w19562.pdf

4 Friedman, E., Freeman, B., Phillips, B., Rosenthal, L., Robinson, D., Miller, H., & Porowski, A. (2016). AmeriCorps Alumni 

Outcomes: Final Survey Technical Report (pp.56). Retrieved from https://www.nationalservice.gov/sites/default/files/

evidenceexchange/FR_AmeriCorpsAlumniOutcomesFinalTechReport.pdf