Reframing the Higher Ed Conversation from ‘Cost’ to ‘Investment’

The perception of higher education has shifted dramatically in recent years. Although economic mobility rates for university graduates have stayed consistently higher than those with no Bachelor’s, the idea a degree isn’t worth the cost has gained traction.

In response to this change, several states in the U.S. have passed new legislation which focuses on promoting the positive outcomes of postsecondary education.

Continue reading this article for more insights into the debate and suggestions on how universities can address the growing skepticism.

Understanding the decline in confidence

Public opinion has not been favorable to higher education. With families facing economic instability, the emergence of new learning modes, and a growing discourse on skills-based hiring, many students have come to wonder whether a college degree is worth the cost. 

For many, it isn’t. A 2023 survey by the ECMC Group found 35% of students don’t believe education after high school is necessary, and 65% are open to alternatives to a four-year degree.

The same report revealed another layer to the dwindling belief in higher education: only 13% of surveyed students feel prepared to choose their post-high school path. The areas they need more information on are finances (such as managing future debt and additional costs), career paths, health (navigating mental and physical health support), and logistics (housing and transportation).

Although most students still believe postsecondary education is necessary, universities must address this debate immediately. Flipping the public perception of degrees from “unreliable cost” to “lifetime investment” may be the way to do it.

Degrees remain decisive in the job market

Talent shortages have triggered the skills-first hiring trend and changed the job market across several growing industries. According to LinkedIn research, areas like technology, information, and media have seen a 240% increase in job postings that don’t require degrees.

However, these requirements don’t always translate into hires. A report by The Burning Glass Institute and Harvard Business School found that “for all its fanfare, the increased opportunity promised by Skills-Based Hiring has borne out in not even 1 in 700 hires last year.” In other words, “the net effect is a change of only 0.14 percentage points in incremental hiring of candidates without degrees.”

The data proves higher education remains the safest path to career advancement. So, education marketers must implement new ways of communicating this message to prospective students.

Highlighting the intangible benefits of attending university, such as personal growth, networking opportunities, and adaptability, can help shift students’ perspective from immediate costs to long-term value.

Strategies for reframing the conversation

Schools need to restore faith in higher education, but cliché slogans and advertising language won’t do. Students need transparency, with straightforward information and the data to prove it. 

Here are actionable strategies universities can take:

Showcase the school’s job placement rates

Understanding what students expect to gain from their education is the first step in securing their interest. Keystone’s 2024 State of Student Recruitment report surveyed over 27,000 students across 195 countries, and professional development remains a top priority. 

When asked about the most important factors when choosing a school, 52% were guided by employment outcomes. When selecting a program, 54% of students prioritize work placements and internships.

Students want a clear pathway from education to employment. 

Highlighting your graduates’ short and long-term employment rates can help attract more career-driven students. If your school offers career counseling, provide detailed descriptions of the available services and testimonials from graduates who have benefitted from them.

Giving prospective students a clear picture of their transition to the job market will increase your school’s credibility.

Build financial transparency

Students often encounter confusing and contradictory information when researching the costs of attending college. The full tuition price isn’t what they end up paying when financial aid is factored in, but many families see the high figures listed on a program’s website and immediately turn to the next option.

Make your financial page as straightforward as possible. Provide clear, detailed information on the total cost of attendance, including tuition, fees, housing, and other expenses. List all available financial aid options and who is eligible for each.

Ensure every possible student knows the difference between the sticker price and the actual net cost of attendance. Online calculators and budgeting tools are great ways to help families understand their financial commitment.

Another aspect of offering transparency is letting families know how their money will be used. Communicate the steps the institution takes to improve value for money, such as investing in career services, updating the curriculum, and maintaining strong industry connections.

Use storytelling and testimonials

Employment and market data can convince prospective students that they have a greater chance of success with a degree. However, an authentic testimonial from a graduate can make them see themselves on your campus.

As Roy Spence, advertising executive, points out, “at some point universities and colleges must advertise not the college but have a young person look in the camera and say, ‘I went to Boston University. Here’s what happened.’”

Promote content that tells a story and creates a genuine connection with prospective students. Current and past students are the best people to attest to the positive impact your university has had on their personal and professional growth. 

They can also attest to the relevance of the program’s learning outcomes, describing how specific aspects of their education empowered them to propel their career.

Promote education as a lifetime investment

Every student’s journey won’t look the same. In industries like healthcare and tech, graduates will have multiple job opportunities to explore right out of university. In others, like liberal arts and education, starting salaries may seem discouraging, but mid-career professionals often reach the same earning levels as any other thriving sector.

Regardless of the study area, the university must paint a clear picture of the future for every prospective student.

When every benefit of postsecondary education is categorically linked to a tangible professional advantage, there will be no room for questioning the value of investing in a degree.