State Dashboards Help Students See Higher Education’s Long-Term Value

Title: Bridging Education and Opportunity: Exploring the ROI of Higher Education and Workforce Development

Author: Paula Nazario

Source: HCM Strategists

New insights from HCM Strategists highlight how continued state investments in higher education are creating pathways to economic mobility, with the majority of degree programs delivering increased earnings and a solid return on investment (ROI). However, despite the continued success and quality of many degree programs, both students and the public have increased concerns about whether postsecondary credentials are worth the time and money.

If consumers do not understand the ROI of their credentials, this can contribute to decreased enrollment, funding, and research, which would in turn produce broader economic and social consequences. While the data are clear that a majority of postsecondary programs do pay off, there are many degrees that fail to provide a measurable ROI. HCM Strategists’ recent analysis of College Scorecard data shows that the average student at over 1,000 institutions earns less 10 years after they first enrolled than the typical high school graduate. While nearly two-thirds of these institutions are certificate-focused, for-profit institutions, there are still many private nonprofit and public colleges that do not provide strong economic outcomes.

To help students and the public understand the differences between institutions and degree programs that provide positive and negative value, the author of the brief urges states and policymakers to provide clear data on post-graduation outcomes. Some states have already advanced initiatives to help consumers see in real time the differences in earnings for those that enroll in higher education.

The author highlights several states initiatives that help students see the value of their credentials including California Community Colleges’ Salary Surfer tool, the Texas Higher Education Coordinating Board’s student outcomes dashboards and reports, and the Virginia Office of Education Economics’ College and Career Outcomes Explorer. Ohio and Colorado are also highlighted for their investments in employer partnerships to expand graduates’ opportunities for well-paying and workforce relevant jobs.

To read more on these new insights from HCM Strategists, click here.

—Austin Freeman