Office of Planning and Budgeting

U District Urban Design

The Seattle Department of Planning & Development published its Final Environmental Impact Statement (FEIS) on the University District Urban Design Framework. This analysis sets the stage for new zoning for the area of the U District west of 15th Ave. NE  to I-5 and from Ravenna to Portage Bay. Please see the FEIS notice for more information.

In May 2014, Tripp Umbach, a national leader in economic impact analysis, was retained by the UW to update its 2010 analysis of the economic, employment and government revenue impacts of operations and research of all of its campuses.  The updated Economic Impact Report reveals that University of Washington’s annual economic impact on the state of Washington is now $12.5 billion an increase from $9.1 billion just five years ago.

An article regarding this is posted on Seattle Times as well.

A new report from the Brookings Institution concludes that student loan borrowers may not be in such a dire situation as media reports commonly suggest.  The report, Is a Student Loan Crisis on the Horizon?, finds that while student debt levels have risen along with college tuition over the past two decades, college graduates’ incomes have kept pace.  The authors analyze data on student borrowers over the period 1989-2010.  They conclude that education debt has not become a greater burden on borrowing households.

  • Education debt increased most among households with higher levels of educational attainment.  Roughly one-quarter of the increase in student debt can be explained by an increase in the number of households with college degrees, especially graduate degrees.  Since 1989, student borrowers with graduate degrees saw their average debt level increase from about $10,000 to about $40,000.  Over the same time, the debt level for borrowers with bachelor’s degrees increased by a smaller margin, from $6,000 to $16,000.
  • On average, student borrowers’ incomes more than kept pace with increases in student debt.  While average household debt increased by about $18,000 between 1992 and 2010, average annual household income for borrowers increased by about $7,400 over that same period.  The average increase in earnings would pay for the increase in debt incurred in just 2.4 years.
  • The ratio of monthly debt payments to monthly income has held steady.  Between 1992 and 2010, the median borrowing household consistently paid between three and four percent of monthly income toward student debt.  The mean monthly payment decreased from 15 percent to 7 percent of income over that period.

Student debt levels have increased over the past two decades.  The authors conclude that this is largely driven by tuition increases over that time.  However, higher levels of student borrowing also partly reflect an investment in higher levels of education.  For the average borrower, that investment pays off in higher incomes.