Eye on the Industry · 88 BUSINESS OFFICER JULY/AUGUST 2013 JULY/AUGUST 2013 BUSINESS OFFICER 89 BY...
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www.nacubo.org 88 BUSINESS OFFICER JULY/AUGUST 2013 BY THE NUMBERS Eye on the Industry It’s common knowledge that higher education access and affordability have become hot-button topics in recent years. A few snapshots from public opinion research, coupled with trend measurements by government and higher education industry professionals, show some interesting comparisons. Edited by Dorothy Wagener GOLD = Public opinion research PURPLE = Higher education industry or government research How important is it to earn a certificate or degree beyond high school? Two colliding trends The Importance of a Degree Source: “America’s Call for Higher Education Redesign: The 2012 Lumina Foundation Study of the American Public’s Opinion on Higher Education,” Lumina Foundation/Gallup, 2013 Source: “Squeeze Play 2010: Continued Public Anxiety on Cost, Harsher Judgments on How Colleges Are Run,” a joint project of the National Center for Public Policy and Higher Education and Public Agenda, 2010 Very important 72% Not very important 2% Not at all important 1% Somewhat important 25% 80% 100% 2000 45% 31% 37% 50% 55% 55% 28% 29% 36% 37% 2003 2007 2008 2009 Percentage who agree that: The vast majority of qualified, motivated students have the opportunity to attend college A college education is neccessary for a person to be successful in today's work world 60% 40% 20% 0% WHAT SHAPES THE FUTURE?
Transcript of Eye on the Industry · 88 BUSINESS OFFICER JULY/AUGUST 2013 JULY/AUGUST 2013 BUSINESS OFFICER 89 BY...
www.nacubo.orgwww.nacubo.org88 BUSINESS OFFICER JULY/AUGUST 2013 89JULY/AUGUST 2013 BUSINESS OFFICER
B Y T H E N U M B E R S
Eye on the IndustryIt’s common knowledge that higher education access and a ordability have become hot-button topics in recent years. A few snapshots from public opinion research, coupled with trend measurements by government and higher education industry professionals, show some interesting comparisons.
Edited by Dorothy Wagener
GOLD = Public opinion research PURPLE = Higher education industry or government research
How important is it to earn a certifi cate or degree beyond high school?
Two colliding trends
Can students afford college? Is it worth it?Americans think a college education has become tooexpensive for most people . . .
22% most people can afford
75% most people can’t afford
. . . yet most college graduates say college was agood investment for them.
86% a good investment
6% not a good investment
Who should provide assistance to cover the costs of higher education? (Percent who strongly agree with these statements)
In the past 20 years, tuition has drastically increased.
The Importance of a Degree
Cost and Affordability
Source: “America’s Call for Higher Education Redesign: The 2012 Lumina Foundation Study of the American Public’s Opinion on Higher Education,” Lumina Foundation/Gallup, 2013
Source: “Squeeze Play 2010: Continued Public Anxiety on Cost, Harsher Judgments on How Colleges Are Run,” a joint project of the National Center for Public Policy and Higher Education and Public Agenda, 2010
Source: Pew Research Center telephone survey, 2011
Source: “College Affordability Facts,” YoungInvincibles, 2013
Source: “America’s Call for Higher Education Redesign: The 2012 Lumina Foundation Studyof the American Public’s Opinion on Higher Education,” Lumina Foundation/Gallup, 2013
Average cost of a four-year public university
84%Tuition has increased much faster than median family income.
Public appropriations for higher education are falling.
Very important
72%
Not very important
2%
Not at all important
1%
Somewhat important
25%
80%
100%
2000
45%
31%
37%
50%55%
55%
28%29%36%37%
2003 2007 2008 2009
Percentage who agree that: The vast majority of qualifi ed, motivated students have the opportunity to attend collegeA college education is neccessary for a person to be successful in today's work world
60%
40%
20%
0%
$8,485
$21,423
$15,605
$31,975
1991
1991
2011
2011
Average cost of a four-year private institution
49%
Higher education institutions should reduce tuition and fees.
State governments should provide more assistance.
The federal government should provide more assistance.
Companies should provide more assistance to employees.
59%
38%
40%
46%
Source: “Not Your Mother’s College Affordability Crisis,” Delta Cost Project, 2012
250
200
150
100
50
0
-501970 1975 1980 1985 1990 1995 2000 2005 2010
Median family incomePublic 4-yearPublic 2-yearPrivate 4-year
Perc
ent in
crea
se
Source: “State Higher Education Finance FY12,” State Higher Education Executive Officers Association, 2012
14.0
12.0
10.0
8.0
6.0
4.0
2.0
0.0
$14,000
$12,000
$10,000
$8,000
$6,000
$4,000
$2,000
$0
Educational appropriations per FTE (constant $) Public FTE enrollment
Publ
ic F
TE e
nrol
lmen
t(m
illion
s)
Dol
lars
per
FTE
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
$8,4
27
$8,6
70
$8,3
52
$7,71
3
$7,19
5
$7,15
2
$7,4
86
$7,6
67
$7,78
1
$7,2
73
$6,72
9
$6,4
83
$5,9
06
WHAT SHAPES THE FUTURE? PUBLIC PERCEPTION
www.nacubo.orgwww.nacubo.org88 BUSINESS OFFICER JULY/AUGUST 2013 89JULY/AUGUST 2013 BUSINESS OFFICER
B Y T H E N U M B E R S
Eye on the IndustryIt’s common knowledge that higher education access and aordabilityhave become hot-button topics in recent years. A few snapshotsfrom public opinion research, coupled with trend measurements bygovernment and higher education industry professionals, show someinteresting comparisons.
Edited by Dorothy Wagener
GOLD = Public opinion research PURPLE = Higher education industry or government research
How important is it to earn a certificate or degree beyond high school?
Two colliding trends
Can students afford college? Is it worth it?Americans think a college education has become too expensive for most people . . .
22% most people can afford
75% most people can’t afford
. . . yet most college graduates say college was a good investment for them.
86% a good investment
6% not a good investment
Who should provide assistance to cover the costs of higher education? (Percent who strongly agree with these statements)
In the past 20 years, tuition has drastically increased.
The Importance of a Degree
Cost and Affordability
Source: “America’s Call for Higher EducationRedesign: The 2012 Lumina Foundation Study ofthe American Public’s Opinion on Higher Education,”Lumina Foundation/Gallup, 2013
Source: “Squeeze Play 2010: Continued Public Anxiety on Cost, Harsher Judgments on How Colleges Are Run,”a joint project of the National Center for Public Policy and Higher Education and Public Agenda, 2010
Source: Pew Research Center telephone survey, 2011
Source: “College Affordability Facts,” Young Invincibles, 2013
Source: “America’s Call for Higher Education Redesign: The 2012 Lumina Foundation Study of the American Public’s Opinion on Higher Education,” Lumina Foundation/Gallup, 2013
Average cost of a four-year public university
84%Tuition has increased much faster than median family income.
Public appropriations for higher education are falling.
Very important
72%
Not veryimportant
2%
Not at allimportant
1%
Somewhatimportant
25%
80%
100%
2000
45%
31%
37%
50%55%
55%
28%29%36%37%
2003 2007 2008 2009
Percentage who agree that: The vast majority of qualified, motivated students have the opportunity to attend collegeA college education is neccessary for a person to be successful in today's work world
60%
40%
20%
0%
$8,485
$21,423
$15,605
$31,975
1991
1991
2011
2011
Average cost of a four-year private institution
49%
Higher education institutions should reduce tuition and fees.
State governments should provide more assistance.
The federal government should provide more assistance.
Companies should provide more assistance to employees.
59%
38%
40%
46%
Source: “Not Your Mother’s College Affordability Crisis,” Delta Cost Project, 2012
250
200
150
100
50
0
-501970 1975 1980 1985 1990 1995 2000 2005 2010
Median family incomePublic 4-yearPublic 2-yearPrivate 4-year
Perc
ent in
crea
se
Source: “State Higher Education Finance FY12,” State Higher Education Executive Offi cers Association, 2012
14.0
12.0
10.0
8.0
6.0
4.0
2.0
0.0
$14,000
$12,000
$10,000
$8,000
$6,000
$4,000
$2,000
$0
Educational appropriations per FTE (constant $) Public FTE enrollment
Publ
ic F
TE e
nrol
lmen
t(m
illion
s)
Dol
lars
per
FTE
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
$8,4
27
$8,6
70
$8,3
52
$7,71
3
$7,19
5
$7,15
2
$7,4
86
$7,6
67
$7,78
1
$7,2
73
$6,72
9
$6,4
83
$5,9
06
WHAT SHAPES THE FUTURE? PUBLIC PERCEPTION
www.nacubo.org90 business officer JULY/AUGUST 2013
The average debt load for college seniors who took out loans and graduated in 2010 was $25,250. Is that . . .
Too high?
Reasonable amount?
One third of students who graduated with a bachelor’s degree did not have any educational debt.
What are very important reasons for getting education beyond high school?
67%To get a good job
65%To earn more money
Education pays in higher earnings and lower unemployment rates.
Student Debt
Earnings
Source: TIME/Carnegie Corp. of New York poll, conducted online by GfK Custom Research North America, 2012 Source: “Student Debt: Myths and Facts,” the Council of Independent Colleges, 2012
Source: “America’s Call for Higher Education Redesign: The 2012 Lumina Foundation Study of the American Public’s Opinion on Higher Education,” Lumina Foundation/Gallup, 2013
Note: Data are for persons age 25 and older. Earnings are for full-time wage and salary workers. Source: Bureau of Labor Statistics, Current Population Survey, 2013
55%
74%
38%
24%
General population
General population
College leaders
College leaders0%
No debt38%
28%4%
4%
16%
14%17%
23%
6%10%
33%
6%15%
24%
19%19%
12%
10%Less than $10,000
$10,000 to $19,999
$20,000 to $29,999
$30,000 to $39,999
$40,000 or more
Unemployment rate in 2012 (%)
2.5 1,624
1,735
1,300
1,066
785
727
652
471
2.1
3.5
4.5
6.2
7.7
8.3
12.4
All workers: 6.8% All workers: $815
Doctoral degree
Professional degree
Master's degree
Bachelor's degree
Associate's degree
Some college, no degree
High school diploma
Less than a high school diploma
Median weekly earnings in 2012 ($)
5% 10% 15% 20% 25% 30% 35% 40%
Public 4-year Independent 4-year For-profit 4-year
WHAT SHAPES THE FUTURE?
NACUBO 2014 Annual Meeting July 19 – 22 | Seattle
www.nacubo.org92 BUSINESS OFFICER JULY/AUGUST 2013
What is the most important reason people should go to college?
Value
Source: TIME/Carnegie Corp. of New York poll, conducted online by GfK Custom Research North America, 2012
DOROTHY WAGENER is editor in chief of Business O� cer at [email protected]
Calculating the value of higher
education will inevitably exclude
factors critical to society. We
should not let what’s measurable
determine what is meaningful.
We need the next generation to
ask questions grander than ‘How
much money will I make?’…
They, and we, deserve better.
‘What barrier will I break?’ or
‘How can I change the world?’
These are the questions we must
inspire every student to ask.—Gene D. Block, chancellor of the University of California at Los Angeles; “College Is More Than a ‘Return on Investment,’” The Washington Post, March 14, 2013
40% 21%
17% 14%
14% 2%
12% 36%
11% 8%
6% 19%
General population
To gain skills and knowledge
for a career
To gain a well-rounded
general education
To increase one's earning power
To become an informed citizen in
a global society
To learn to think critically
To formulate goals and values for life
College leaders
WHAT SHAPES THE FUTURE?
