1 Year Associate Degree Programs

1 Year Associate Degree Programs – Last year we published a review that introduced students and policy makers to a new way of assessing the return on investment (ROI) of higher education. This price-to-earnings premium (PEP) calculates the time it will take students to recoup their postsecondary education costs based on the earnings premium the average student earns by being accepted to college.

And earlier this year, we released a follow-up report examining PEP for low-income students at colleges and universities across the country.

1 Year Associate Degree Programs

Although these first two articles focused on the outcomes of students who attended specific schools, they did not provide a detailed look at how students performed individually.

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Fortunately, new program-level data released by the U.S. Department of Education now allows us to dig beneath the surface of many institutions across the country to see what ROI the average student received from the particular college program they graduated from. . . Comparing the earnings premium that students earn relative to the price they paid to earn their credential allows us to calculate the PEP that individual majors within an institution generate for their graduates. This gives those considering a postsecondary credential—as well as policymakers, researchers, and taxpayers—more actionable data about where students should invest their time and money if they hope to increase their economic mobility. It also gives college administrators specific information about which degree programs are working well for students, in addition to flagging those that aren’t making any of them impossible. economic ROI after they complete their credentials (Click here to download all data).

We used a similar methodology to our two previous reports to evaluate PEPs for undergraduate programs.

First, it only includes students who have completed an undergraduate program. This means that these students did everything right: they paid their tuition, stayed in school, and earned the certificate they sought. In contrast, the institutional-level data used in previous PEP reports allowed us to look at both students who earned a degree and those who started but did not complete. Second, dates at the departmental program level only extend for two years after graduation. Institutional earnings data used in previous reports measured earnings 10 years after students first enrolled at the institution, regardless of whether they earned their credentials.

In addition to these differences between institution- and program-level revenue data, there are several other methodological aspects that must be considered when interpreting the data used in this report. In this overview, we focused primarily on college-level diplomas, such as certificates, associate degrees, or bachelor’s degrees. While program-level earnings data are also available at the graduate level, the net price for graduate programs varies and is not provided in departmental databases. Finally, program-level earnings data made available through the department provide results for only about 20% of all undergraduate programs nationwide.

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Other programs limit their data privacy because their student groups in each program are too small. However, most students are enrolled in these large programs for which data is available. In total, we analyzed almost 40,000 university programs, attended by more than 2.2 million students.

Allowing for these differences, the way PEP is calculated for undergraduate programs is essentially the same as in previous reports. First, we look at the total out-of-pocket costs a graduate will incur (defined as the cost after deducting all grants and scholarships) to complete a college program. For students earning a bachelor’s degree, we assume that they will have four years of annual expenses. If the average net price at that institution is $15,000 per year, we estimate that the total net price to earn their credentials would be $60,000 ($15,000 x 4 years).

Similarly, we assume that students will have two years of annual net costs when completing an associate degree and one year of costs when graduating with a certificate. We then look at how much extra graduates earn compared to the average high school graduate to see how long it will take to recoup their education investment.

To calculate the earnings premium earned by graduates, we compare the median salary of those who completed a college program to the median salary of a high school graduate without any college experience. If the majority of students who graduate from a college program now earn more than someone who never attended college in the state in which their institution is located, we consider this an “earnings premium” that can be used to lower the cost of their education. credentials over time.

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If they earn less, we consider that they have not earned any economic return on investment because they earn less than someone without post-secondary experience.

As in previous reports, PEP allows us to estimate how long it will take to pay back the educational costs of earning a credential based on the income premium earned by the average student (at the institutional level) or graduate (at the end of the program). . For example, if a student graduates with a bachelor’s degree in business and then earns $15,000 more than the average high school graduate in his state, his premium income will be $15,000. If his earnings cost $60,000, it will take him four years to recoup his education costs ($60,000 net costs / $15,000 premium income). For a more detailed description of the methodology and assumptions, please refer to our preliminary report, “Price-to-Earnings Premium: A New Way to Measure the Return on Investment in the Upper Classes.”

To better understand what types of college programs have a specific economic return on investment, we looked at US credentials to see how long it took graduates to recoup the cost of their education.

The good news is that for the more than 2.2 million college graduates captured in this data set, most college programs gave them enough of an income premium to quickly recoup their costs. post-secondary education. Nearly half (46%) say their graduates earn enough to pay for themselves in five years or less, and nearly two-thirds (64%) report the same result 10 years after graduation. However, a significant number of undergraduate programs produce less than stellar results for their students – some quite alarming. Nearly a quarter of all college programs (10,000) show that their graduates did not earn enough to recoup the cost of their education within 20 years of receiving their degree. And about 6,000 of those programs show no economic premium. As a result, more than 350,000 students enrolled, paid tuition, and graduated from these programs, but saw no financial gain.

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There are also differences in the different types of college programs depending on the type of credentials they offer. Below are the PEPs for undergraduate programs that award bachelor’s degrees, associate degrees, and certificates.

Bachelor’s degree programs: Although bachelor’s degree programs take longer to complete—and are often more expensive to obtain—most allow their graduates to quickly recoup the cost of their education. Nearly two-thirds (65%) leave most of their graduates earning enough to pay back the cost of their education in 10 years or less—compared to 75% of all bachelor’s degree holders. Bachelor degree programs also have the least impact

ROI for diploma graduates compared to associate degree or certificate programs. Only 10% of bachelor’s degree programs—representing 5% of four-year students—show that their graduates earn less than the average high school graduate within two years of earning their degree.

Associate’s degree programs: The cost of earning an associate’s degree is often lower than earning a bachelor’s degree, in part because the time to completion is faster. While a greater proportion of associate’s degree programs result in no premium than four-year programs, students who earn an associate’s degree are more likely to recoup their education costs within the first five years—more so than bachelor’s and certificate graduates. . Nearly six in ten (58%) students who complete an associate degree have the ability to recoup the cost of earning the credential in just five years, which is higher than any other type of program.

What Is An Associate Degree? Requirements, Costs, And More

Certificate Programs: Earning a certificate takes less time than earning an associate’s or bachelor’s degree, as they typically range from six to 18 months depending on the type of certification desired. The cost of these programs can also vary greatly depending on the length of the program and whether it is offered at a public or private institution. These factors, along with the earnings premium, affect how long it takes graduates to recoup their education costs. Although many certificate programs (48%) show that the majority of their graduates will pay back their education costs within five years, they are generally smaller in scale—representing only 34% of all certificate holders. Conversely, a disproportionate number of graduates who saw no return on investment from their degree program earned a certificate (197,277) rather than an associate degree (76,627) or bachelor’s degree (79,422). These results show

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