The Power of Compound Interest – in Homeschooling
If you have ever been to a retirement planning class or seminar, you have heard about the power of compound interest. It’s what will make you a millionaire if you max out your 401K or your IRA and keep your money in a balanced spread of stock based mutual funds. It’s why your credit cards are driving you to desperation and when you are done paying your mortgage, you will have put in twice the value of your house when you bought it.
It’s also why the prospects of homeschooling are looking so bright!
The HSLDA recently released a study about homeschooled academic success. Essentially, they confirmed the results of numerous previous studies, which show that homeschoolers tend to score slightly above the 80th percentile with respect to the national statistics. That sometimes comes as a shock to the average parent, but is not news to anyone who has run in homeschooled circles for any length of time.
The INTERESTING part of the study came at the end – almost as a footnote.
From HSLDA online:
There are an estimated 2 million homeschooled children in the U.S. today, which is about 4% of the school-aged population, and homeschooling is growing at around 7% per year.
Now, 4% of the population growing around 7% per year may not sound like a lot of kids or growth, but that’s where the Power of Compound Interest comes in! This is what the numbers do assuming they stay steady:
|Year||portion of children homeschooled||Number of homeschooled children|
That’s doubling roughly once every ten years!*
Of course, there is no reason to presume that those numbers will stay steady. They COULD go down. However, considering the growing dissatisfaction with the overreaching of the government, trends putting school children in virtual lockdown in various no tolerance zones, growing resentment toward the overreaching political correctness that seems to be more important in some schools than literacy or math skills, fear of increasing school violence and decreasing peer morality just to name a few issues, I see no reason not to believe the rate of increase of homeschooled children will INCREASE in the near future.
In other words, that 20% number of children being homeschooled could very well include some being homeschooled today!
*This is assuming the United states can maintain its current steady state and not follow Europe’s declining birthrate numbers. If we can only maintain our population through immigration, all bets are off.
It is a thousand times better to have common sense without education than to have education without common sense.
Robert Green Ingersoll