Graduate Earnings: The Texas Public Policy Foundation analyzed recent program-level data from the U.S. Department of Education’s College Scorecard to identify the median annual earnings of postsecondary students three years after graduation, mainly for those who graduated during the 2014-15 and 2015-16 academic years. The following are some of the report’s key findings:
- Annual earnings for undergraduate certificate and associate degree holders were $25,273 and $34,123, respectively, compared to $46,865 for bachelor’s degree holders.
- Associate degree holders’ earnings were greater than bachelor’s degree holders’ in some states, including Alabama, Montana and North Dakota.
- Among the most popular programs on the associate degree level, the top-earning programs included electromechanical instrumentation, nursing, industrial production, dental support and electrical transmission installation, with annual earnings for some reaching over $60,000.
- Among the most popular programs on the associate degree level, electromechanical instrumentation, industrial production and vehicle maintenance experienced the largest growth in earnings, with increases of more than $6,000 over the three years after graduation.
Federal Student Aid: In August, the National Association of Student Financial Aid Administrators released their annual report on postsecondary student aid. The report reviews the most recent statistics available for each federal aid program, including the average amount awarded, the percentage of recipients by institution type and federal appropriations. One key finding from the report is that during the 2019-20 award year, 29% of Pell grant recipients, 26% of Federal Supplemental Educational Opportunity Grant Program recipients, and 12% of Federal Work-study recipients were enrolled at public two-year institutions. You can read more in-depth findings from the report here.
Postsecondary Education Perceptions: New America recently published results from their sixth annual nationally representative survey on postsecondary education. For the 2022 edition, researchers surveyed adults over the age of 18 about their perceptions of the value of postsecondary education:
- Since early 2020, the percentage of adults stating that postsecondary institutions are leading the U.S. in a positive direction declined from 69% to 55%.
- About 73% of adults believe that a postsecondary credential is needed to ensure financial security and 76% say that postsecondary education is a good return on investment.
- Out of all postsecondary education institutions, most adults stated that community colleges contribute to a strong workforce.
Postsecondary Enrollment: A recent research study conducted by HCM Strategists and Edge Research on behalf of the Bill & Melinda Gates Foundation, surveyed between January and April 2022 high school graduates aged 18 to 30 who decided not to enroll in postsecondary education or stopped out of a two-year or four-year program. As postsecondary enrollment drops nationwide, the findings from this survey aim to determine why individuals are choosing not to attend or complete their education:
- About 46% of respondents plan on enrolling in or returning to postsecondary education, 41% are unsure and 13% don’t plan on going.
- Respondents had experience with or are currently pursuing other educational options, with the most popular choices being YouTube online courses as well as courses that lead to licenses and certificates.
- The most valued educational opportunity cited by respondents was on-the-job training. In fact, 70% agreed that on-the-job training is the best path to career advancement.
- Financial constraints, stress, current employment and uncertainty about their career were top reasons for not enrolling or completing their postsecondary education.
- After financial assistance, respondents stated that program flexibility, job counselors and opportunities for real-world, hands-on opportunities would help them complete or get a degree.
Relatedly, Strada Education Network studied the perspectives of individuals who hold an associate degree or less on the possibility of future postsecondary education enrollment. Researchers surveyed respondents between spring 2020 and fall 2021 and followed up with some individuals in spring 2022 to reveal the following:
- In fall 2021, 44% of respondents said they were likely to enroll in postsecondary education, a significant increase from spring 2020, with higher percentages among respondents aged younger than 34, Black respondents and respondents with some college, but no credential.
- According to the follow-up survey, one out of six individuals who were likely to enroll did so.
- Respondents echoed similar opinions as those from the HCM Strategists and Edge Research survey about supports that would help them enroll such as flexibility, financial aid and work-based learning.
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