As student debt mounts, colleges and universities face pressure to disclose their graduates’ earnings, writes Jon Marcus for the Hechinger Report.
Joyce English was about to start studying toward an associate degree she hoped would lead to a job as a consultant to healthcare companies around Tacoma, Wash., where she lives.
Then she discovered a database created by the state’s workforce training agency estimating what she’d earn with that degree versus how much she could make in other jobs with other majors and degrees from colleges and universities across the state.
. . . “You obviously want something out of your education,” says English, who changed her mind and is now majoring in what she learned is the more lucrative field of business management at Pierce College. “You don’t want to go into something that’s going to pay you less than it cost to go to college.”
Washington, Florida Arkansas, Tennessee and Virginia have released wage information by major, degree and institutution. Colorado, Nevada and Texas will do so soon. Congress is considering a bill that would require every college to disclose the average annual earnings of its graduates.
“I can imagine some hard questions being asked” by parents, students and legislators armed with knowledge like this, says Mark Schneider, a vice president at the American Institutes for Research and president of College Measures, which is helping states create such earnings databases.
. . . nearly 90 percent of incoming freshmen say the main reason they enrolled in college was “to be able to get a better job,” UCLA’s Higher Education Research Institute reports. “And probably 100 percent of their parents say that,” says Schneider.
“It’s the no-name comprehensives, the regional campuses, the third-tier not-for-profits—their business model is going to be held up and people are going to ask about it,” Schneider says. “ ‘Why are you charging me $40,000 a year? What’s the outcome at the end of the day? What am I getting for all this time and money?’ ”
Higher-education leaders worry students will shun the liberal arts in favor more lucrative majors.
“Follow your passion” should be the message, not “show me the money,” says Carol Geary Schneider, president of the Association of American Colleges and Universities. “Your college decision should be about becoming an educated person—giving yourself a resource that will increase in value your entire life, finding something you care deeply about, and developing the skills to go on learning what you need to learn.”