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What is the Purpose of Higher Education?

What is the Purpose of Higher Education?. Mark Schneider President, College Measures Vice President and Institute Fellow, AIR February 17, 2014. Can You Self-Actualize While Living in Your Mother’s Basement?. Purpose v. Value?. Is it about money or broader outcomes?

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What is the Purpose of Higher Education?

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  1. What is the Purpose of Higher Education? Mark Schneider President, College Measures Vice President and Institute Fellow, AIR February 17, 2014

  2. Can You Self-Actualize While Living in Your Mother’s Basement?

  3. Purpose v. Value? • Is it about money or broader outcomes? • How to measure value (even if we restrict ourselves to labor market outcomes): • Institution vs. Program Level • Time frame: • Wage data: first year? 5 years? 10? • Other data? Rolling averages? • Comparisons • Criterion based • Norm based • Individually driven • Who should assess value? • Government? • Others (not for profits vs. for profit companies)?

  4. Programs with Bachelor’s Graduates Having Lowest and Highest First-Year Earnings, by States • Common Theme in lowest first year earnings: Liberal Arts • Common theme in highest first-year earnings: Engineering

  5. Average Wages after Year 1 and after Year 10:Graduates from Popular Bachelor’s Degree Programs in Texas For most majors: start low, end low; start high, end high

  6. Debt Servicing as Example of Why Labor Market Outcomes Matter • Criterion based: • Rule of Thumb: Debt should not exceed first year earnings • At that level about 11% of gross first year earnings will go to service debt at current 3.9% rate

  7. Student Loans vs. Wages: Institution Level

  8. Norm Based • Compare to Overall State Performance

  9. Compared to Overall State Performance Level

  10. What about Time?

  11. Disciplinary Focus: What a difference a decade makes

  12. Institution is the wrong level of analysis: Program level differences

  13. Program Level: Anthropology

  14. Anthropology vs. Economics

  15. Individual “Ratings”

  16. Individual Weighting?

  17. What is the Role of Intermediaries?

  18. Government Role in Assessing the Value of Higher Education • Federal Government vs. State • Accountability vs. Consumer Choice

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