How Can Higher Education Institutions Prove Their Value?

Is college worth the cost? Not long ago, this question was unthinkable. Not anymore. The rising costs of higher education and the disruption of the pandemic have caused many students and parents to question the value of a four-year degree. 

As reported in Inside Higher Education, in fall 2020, 20.7 percent fewer students than in 2019 enrolled directly in college from high school. More than one in four students enrolled in college in 2019 did not return the following fall, the highest rate since 2012.  

And the Strada Education Network found that only half of its respondents believed their college degree was worth the cost when the organization conducted a 2021 survey of college students. And a recent study from Georgetown University indicated that roughly one-third of the colleges studied had a majority of former students earning less than high school graduates – mostly because of low completion rates at those schools. 

It's no secret that the pandemic has made students question the value of college. In 2020, the onset of the pandemic forced institutions of higher learning everywhere to remove students from the classroom and divert them into remote learning – practically overnight. Students whose families were financing costly but rewarding in-person classroom instruction and the on-campus experience now found themselves paying for subpar Zoom sessions off campus. Almost immediately, students began to ask, “Is this experience worth returning to? Why not put my higher education on pause?” And they continue to see less value in higher education.  

But doubts about higher education had been building since before the pandemic. In 2019, a Pew Research Center survey revealed that, “only half of American adults think colleges and universities are having a positive effect on the way things are going in the country these days. About four-in-ten (38 percent) say they are having a negative impact—up from 26 percent in 2012.”  

This is not good news for the state of higher education, but higher education is not likely to change in any radical way soon. As writer and economist Scott Galloway wrote recently, “The sector is ripe for disruption. In any other industry, innovators would have moved in long ago. But higher education is different: It’s got iconic brands (Apple and Coca-Cola have nothing on Stanford and MIT), a self-policing ‘accreditation’ system, and an unholy alliance with the financial industry ($1.7 trillion in student loan debt). So, things keep getting worse.” 

But higher education can and should do some things differently – like work harder to promote the value of degree. If they don’t, they will lose students, and with the declining enrollment, smaller endowments. The good news is that tools exist to do a better job selling the real-world value of a degree, and a college need not disrupt itself to use them well.  

For example, educational institutions should be creating content that highlights students’ post-graduate success in the workforce. Students want to know that their education expenses will pay off. Students may be especially skeptical about whether online programs will help them gain the “real-world” skills necessary to join the workforce. 

Students need facts – hard data on which to measure a virtual program. They need to hear success stories, too. We suggest that colleges: 

• Publish hard data that connects the value of a degree to success in the job market. For example, the Colorado Department of Higher Education 2021 Higher Education Return on Investment Report links the value of a higher education degree to crucial metrics such as wages earned. Colleges should use this kind of data to demonstrate their value and publish credible “scorecards” on their sites. 
• Share testimonials from graduates discussing life after college. Boston University does this right. The first line on its Alumni Success Stories page says, “Investing in a BU education pays dividends” – and every story that follows touts how a BU degree paid off for alumni. This content could also be used in email campaigns, paid search or display campaigns, and organic or paid social. 

In today’s environment, prestige alone will not suffice. The higher education sector will need to work harder. The need for marketing the value of a higher education experience is one of six trends that Investis Digital discusses in a newly published white paper, Higher Education Marketing: Six Trends in Online Higher Ed. This white paper provides a snapshot of the current and future higher education landscape, including: 

• The best SEO practices for higher ed. 
• Which types of academic programs should be getting the most amplification. 
• How to showcase purpose-driven initiatives.  

This guide is based on our experience helping colleges and universities use digital to recruit students. Download the white paper to start increasing enrollments for the upcoming academic year. 

Contact Investis Digital 

To start your enrollment journey contact us or learn more about our Connected Content Approach, here.