Picture this. It’s 1985, the stock market is roaring, the economy is growing at a robust pace, and over the past ten years, college enrollments have increased by over 1 million students.[1]
Traditional higher education, and its outcomes for students are on a roll.
With this in mind, you’re tasked with heading off to the mall, pen and clipboard in hand, to ask 100 random people what the most “valuable” education is.
Before you begin your survey, you can make a few assumptions. With college enrollments growing, new college grads heading to Wall Street to make their fortunes and new diploma holders in general making a 15% higher starting salary than those who graduated in 1984…[2]
You can clearly assume a four-year degree is “valuable.”
And you’d be right.
Now, among those 100 people you survey in the mall, chances are a majority of them would agree with your assumption and say a college education is highly valuable. And chances are they’d say an Ivy Leage education is the most valuable of all (more on the Ivy League in just a moment).
But let’s drop the assumptions and get to some facts.
An actual survey done by the Bureau of Labor statistics in 1985 showed that recent high school grads planned on matriculating into college at a 16% higher rate than they did in the previous decade.[3]
The average median income of a college grad in 1985 was nearly double that of a high-school only grad, $43,190 compared to $27,470.[4]
And 85% of all of 1985’s college grads were employed within a year of receiving their diploma.[5]
In the mid-1980’s, earning a college degree was considered significantly valuable, and the easiest pathway to career success.
Skip ahead 30 years, and boy have things changed.
A recent survey by Data for Progress[6] shows Americans now value a trade or technical school education over a college education. And get this…
85 percent of those surveyed said technical and trade colleges offer “somewhat high” or “very high” value…. With just 69% saying the Ivy Leagues offer a high value. You read that right. Americans now place more value on vocational training than they do on an Ivy League education.
Danielle Deiseroth, executive director of Data for Progress, told Inside Higher Ed, that “she wasn’t surprised to see technical colleges rank higher than Ivies, as families question higher ed’s affordability and return on investment.”[7]
You see, over the past 30 years, Americans have begun placing less value on a four year degree. Of course, there are a myriad of reasons why, but most notably are costs and outcomes.
Today, a public 4-year institution costs an average of about $10k a year, compared to about $1,300 in 1985…[8]
The average federal college student loan debt per borrower has exploded to $37,853…[9]
Oh, and the average student takes 6 years to earn a four-year degree.[10]
Compare this to some skilled tradespeople. Many trades have recently experienced double digit wage hikes, and some skilled tradespeople now make well over $100k a year.[11]
Trade school grads hold a fraction of the student loan debt compared to college grads…
And are out of school and in the workforce in two years or less. Simply put, many believe the trades offer students a cheaper, faster pathway to career success than college does.
Now, while the survey data is great news for trade schools and career colleges, it’s actually not all bad news for four-year colleges, especially those that operate fully online degree programs.
You see, while a lot more value is indeed being placed on the trades (and Conversion Media Group can help your trade school grow its enrollment), this type of education IS NOT for everyone.
Not everyone wants to work “hands on.”
By digging a little deeper into the Data for Progress survey, it shows that while 85% of those surveyed did say that a technical education had great value, 77-79% said college does too.
Americans still believe, rightfully so, that a college degree has great value. And perhaps no better place can that value be found than with online degree programs.
See, as you know, attending college online is generally less expensive than in-person college, and many of the prospective students we speak with (and help enroll into online programs) … know it too!
In fact, many of the adult learners we speak with already have some brick-and-mortar college under their belt, want to advance their careers by completing their degrees, want to do it more cost effectively, online…
And want to hear about the programs your school offers. To them, the most valuable education is one that is both affordable and can lead to solid career outcomes.
So, no matter if you’re a career college, trade school or a four-year online college…
We can help connect your institution with students who are truly interested in what you have to offer. We know what they’re looking for, because they tell us.
Give us a call at (+1) 800 419 3201 or contact us HERE, and we’ll explain how we’ve helped our client institutions reach their enrollment goals, and how we can help yours too.
[1] U.S. college enrollment and forecast 1965-2031 | Statista
[2] Average annual salary of bachelor’s degree recipients employed full time 1 year after graduation, by field of study: Selected years, 1976 through 2001
[3] What happened to the high school class of 1985?
[4] Income and Poverty Status of Families and Persons: 1985 (Advance Data)
[5] HIGHLIGHTS: 1985 RECENT COLLEGE GRADUATES SURVEY
[6] Voters Have a Favorable View of Higher Education, but Think It Has Become Too Expensive to Attend College
[7] Survey: Americans value trade colleges over Ivies
[8] Average Cost of College Over Time: Yearly Tuition Since 1970
[9] Average Student Loan Debt [2024]: by Year, Age & More
[10] The Average Student Takes Six Years to Earn a Four-Year Degree. Some States, Schools, and Organizations Are Working to Change That. | Insight Into Diversity
[11] $146,000: Tradies with the fastest-growing wages revealed