With college costs rising during an unstable economic recovery, many Americans are reconsidering the value of higher education – or, lack thereof.
In a recent survey, 63.5% of people agreed “a college education is still a good financial investment for young adults given rising costs.” While this statistic is promising for the majority of high school students (and the colleges seeking them), 36.5% of families remain unconvinced.
In general, “graduates [are] likely to earn $1 million more in their lifetime than non-grads,” claims Keith Brannan, Vice President of Financial Security Planning for COUNTRY Financial. With countless benefits and undeniable career preparation, why doesn’t everyone have higher education at the top of their priority lists?
Many adults find college funding competing against retirement funding, with 52.5% of families prioritizing retirement over their child’s education. However, if monetary setbacks are the only constraint, then schools have no excuse for dwindling applicant numbers.
If universities develop convincing marketing campaigns, pushing financial aid and scholarship information, they will undoubtedly catch the attention of skeptics. With college cost serving as one of the biggest deal-breakers to potential students (if not, the biggest), it is definitely an issue that needs to be addressed, not ignored.
Through unique solutions, such as customized cost calculators and other financial aid marketing, schools can expect a much clearer communication path to those 36.5% of unconvinced families.
For more information about creative higher education marketing, and Net Price Calculators, please contact us.
Source: Emmeline Zhao, The Wall Street Journal