The Value of Higher Education
Although the value of higher education has been called into question in recent years, results from a recently released public opinion survey in Tennessee indicated that Tennesseans believe postsecondary education offers significant value and is worth the investment of both time and money. As outlined in a research study released by the State Collaborative on Reforming Education (SCORE), the majority of Tennessee voters agreed that obtaining postsecondary credentials brings countless benefits to students, including improved employment outcomes, higher wages, and the ability to withstand an economic downturn.
The study also includes insights from the Boyd Center for Business and Economic Research at the University of Tennessee-Knoxville, which found that the post-pandemic labor market continues to favor college-educated workers and that college graduates can expect to earn $1.5 million more over the course of their careers than an individual with only a high school diploma.
This news is encouraging, as it suggests that communicating the value of a college degree may not be the uphill battle we may have feared. However, the study also suggests that concerns over affordability, hesitancy to take on student debt, and the need to realize a strong return on investment are critical considerations that must be directly and sufficiently addressed for more students and families to invest in postsecondary programs.
For example, while most respondents believe that only a high school diploma is not enough to support student success, many question whether a college degree is worth going into debt. For those 18- to 24-year-olds who have not made up their minds or do not plan on pursuing postsecondary education, improved personal finances were the most cited factor that would make them more likely to attend. Additionally, nearly two-thirds of younger Tennesseans indicated they would be willing to take on college debt if they were guaranteed a good job after graduating.
The results of this study are a timely reminder to our campus community as we continue to undertake the initiatives outlined in the university’s strategic plan. Redesigning our general education curriculum, reconsidering our college’s organizational structure, expanding experiential, community-engaged learning opportunities, addressing achievement gaps through efforts such as the Moon Shot for Equity, and increasing operational efficiency through initiatives such as the Voyager project all play a role in ensuring that ETSU remains an affordable option that offers students a competitive edge in their careers.
If you have not read the SCORE reports, I would encourage you to download the documents or watch the webinar outlining the findings. I am proud of the opportunities East Tennessee State University provides and am confident that our efforts will continue to add value for our students, our communities, and our state.
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Brian Noland
President