This finding comes on the heels of a study by the National Center for Higher Education Management Systems that found that the U.S. will need to produce 63.1 million degrees to match leading nations in the percentage of adults with college degrees by 2025. At the current pace, the U.S. will fall short of that threshold by 16 million degrees.
The Kaplan University survey also found that:
- Higher Education = Employer Plus: 91 percent of U.S. adults feel finishing a degree, seeking a higher degree or continuing education makes someone more attractive to potential employers. 90 percent report that furthering one’s education can increase one’s earning potential and opportunities for promotion.
- Level of Education Determines Amount of Worry: 84 percent of high school educated, employed adults have concerns about their jobs – and specifically about losing their job or not being able to find a new job if let go, while only 63 percent of college-educated adults are worried.
- Economy an Education Influencer: More than half (55 percent) of those aged 18-34 say the economy influences their education decision. Women, who make up 6 out of every 10 students enrolled in college today, are more likely to be influenced by the economy (63 percent) than men (46 percent) in this age category.
"During tough economic times, college applications tend to rise and this slowing economy is no exception," adds Smith. "People go back to school to sharpen their skills or obtain credentials that enhance their competitiveness, and the investment pays off. U.S. census data shows that in 2007 people with bachelor's degrees earned 90 percent more than high school graduates. On average, college graduates earn $59,365 annually compared with high school graduates who earn $33,609."
Individuals interested in returning to school should consider:
- Education Offerings at Work: Many companies provide education-based benefits including reimbursement for classes. Employees should check to see what their company provides. If there isn’t anything official, ask an HR manager or supervisor if there is a way for the company to help with the cost of a class, degree or certificate. Many times it is in a company’s best interest to provide educational benefits because it enhances an employee’s skill level and could increase employee retention.
- Education Anywhere: Unlike 10 years ago, getting a degree doesn’t mean giving up your full- or part-time job or sitting in a classroom. Today, students can learn from home through accredited online programs from high school through college and beyond.
- Traditional College Students are in the Minority: Only 16 percent of higher education enrollments are "traditional" 18-22 year-old full-time undergraduate students residing on campus. "Non-traditional" students – adult learners juggling jobs and family while studying part-time and working full-time or part-time – make up the vast majority of students in higher education
