Thrive Academy showcases 2024 success with economic impact study results

In a recent meeting of the Louisiana Legislature's Finance Senate, the spotlight shone brightly on Thrive Academy, a state-sponsored boarding school dedicated to serving students from under-resourced communities. The atmosphere was charged with optimism as the academy's Chief Financial Officer, James Founders, shared impressive achievements and future projections that underscore the institution's impact on education and economic mobility in Louisiana.

Thrive Academy, founded by Sarah Broom and supported by the late Steve Carter, caters to students in grades 7 through 12 from 18 parishes across the state. With a unique five-day boarding model, the school immerses students in a 24-hour learning environment, providing not only high-quality education but also access to extracurricular activities and essential support services. Notably, 100% of its students are economically disadvantaged, with 90% qualifying for Medicaid.

The academy's recent performance on the LEAP exams has been remarkable. In 2024, Thrive Academy students outperformed the state average on nine out of twelve tests, a significant achievement given their demographic. Eighth graders scored eight points higher than their peers in similar economic conditions, while seventh graders surpassed them by an impressive 27 points. This success has earned Thrive Academy recognition as a top gains honoree by the Louisiana Department of Education.

As graduation approaches, Founders shared statistics about the class of 2025, revealing that 30% of graduates will earn college credit, while 45% plan to attend a four-year university. The economic implications of these achievements are profound. An economic impact study commissioned by the academy indicates that students attending Thrive are 34% more likely to graduate high school compared to their peers. This translates to an estimated increase of $2.9 million in lifetime earnings for the graduating class of 2025 alone.

Moreover, the academy's success is projected to save the state over $2.3 million in social services costs, as higher education levels correlate with reduced dependence on public assistance. Each million dollars invested in Thrive Academy generates a primary economic impact of an equal amount, alongside additional economic benefits that total nearly $900,000 for every dollar invested.

Senators expressed their appreciation for Thrive Academy's efforts, acknowledging the importance of such educational initiatives in breaking the cycle of poverty and enhancing community welfare. The discussions highlighted a shared commitment to evolving educational strategies in Louisiana, emphasizing the need for continued support and investment in programs that yield tangible benefits for students and the state alike.

As the meeting concluded, the sense of hope was palpable. Thrive Academy stands as a beacon of possibility, demonstrating how targeted educational support can transform lives and uplift communities across Louisiana. The journey ahead promises to be one of continued growth and impact, as the academy strives to empower more students to achieve their dreams and contribute positively to society.