ROEI – Return on Your Educational Investment

Contemplating a Return on an Educational Investment

The single most important decision a person can make to ensure an increase in their socio-economic status is to complete a college degree. Research has shown that college graduates have significant advantages over non-college graduates in terms of life-time earnings, ability to find and keep a job, access to quality health care and an overall improved quality of life. These differences have been true since the creation of colonial colleges, but are even more marked in an economy where the growth in positions and salaries favors skilled and highly skilled workers. The unemployment rate hit 5.5% in the month of May, reminding all of us that we are all competing for the jobs that do exist.

I recently heard a graduation speaker from the financial industry state that the best return a person can get for their money is to invest in a college education. The return on investment in a college education outpaces the stock market or investment in a small business.

It wasn’t very long ago that the only option a student had for earning a college degree was to attend class in person, at a time and place convenient for the institution and a professor but not necessarily the student. Distance education has become an increasingly viable option for employees and employers. Every major survey shows that the acceptance of online learning increases each year, especially among hiring managers.

Selecting a degree program, and eventually a career path, is often time-consuming and rewarding. It is important that a student ask two questions before beginning an online program or for that matter an on-ground program. First, is this academic program the one that will lead me to the profession I want and one that will allow me to advance? Second, is this institution the right one for me in terms of the quality of its academic offerings?

Choosing the Right Profession or Career

I think the first question can be answered by looking at three characteristics of the chosen profession. A good return on an educational investment comes from selecting a sustainable profession or career, one that is predicted to grow as fast or faster (Department of Labor terminology) than other professions over the next 10 years. A profession unable to grow over time will lead you to a dead-end and in some cases back to square one. Second, a good return on an educational investment comes from selecting a profession that projects steady increases in compensation over the next 10 years. The Department of Labor provides this information on almost all professions, saving you time and energy in your research. Finally, it is important to identify an appealing profession that allows or for easy entry and advancement more likely with a college degree. The goal for every institution, online or on ground, is to provide students with the necessary skills and knowledge that give them that competitive advantage within their profession or career.

Choosing the right University

We know most online students; of which there are approximately 1.8 million who pursue their entire degree online historically cared about convenience and acceleration. In other words can I balance my life’s obligations with my education? Acceleration is important because the sooner I can complete the degree the sooner I see the return on my investment. The sooner I can advance in my chosen career without the burden of balancing home, work and school. Recent online students have become better consumers and also insist on high quality programs. As with any industry, students are aware of the issues plaguing those that came before them; enrolling in a program that made promises and did not deliver. Students need to find a quality education program that has programmatic objectives which have been vetted by professionals to ensure they teach students what they need to know (knowledge) and what they need to be able to do (skills). Quality educational programs measure learning by linking programmatic outcomes to course outcomes to learning objectives leading to an assessment portfolio which demonstrates the student’s mastery of skills and knowledge appropriate for their chosen profession.

A final consideration in selecting an online institution is to review their learning platform. The best online institutions use an online classroom built for an online pedagogy that optimizes learning by doing rather than passive non-participation. Students should avoid institutions that simply take on-ground curriculum and use email and websites to form what they call a learning platform. Adult learners find that class discussions allow the testing of diverse opinions which provides for a better understanding of course ideas and concepts. Students who participate in the free market of ideas typically do better in their overall program and can apply more of what they learn to real – world problems.

The Expansive Classroom

The online educational experience provides more than just the ability to earn a degree. Advancements in technology allow students to create bonds through networking in courses and programs, both in and out of the classroom. The fear that a student will be “alone” in this cold, virtual environment is becoming less and less of an issue for online students.

Many students find that they excel in an online environment, because they no longer have those barriers students encounter in an on-ground environment. The online classroom provides a level of comfort to those students that struggled with face-to-face discussions. Many students found their voice in online class discussions, allowing them to interact with people hundreds or thousands of miles away.

The online educational experience provides students with skills that mirror how modern organizations operate using technology for communication, project management and implementation.

Education can lead to a path of life-long learning, new opportunities and a comfortable, stable living for graduates and their families. Next to purchasing a home, a college education is the single largest investment most students will ever make. Students should choose their program and school in a way that ensures they get a full return on their educational investment (ROEI).