Demonstrating the Value of Higher Education
In addition to discussing the actual price tag — gross and net — another important tactic is demonstrating the potential return on investment of a degree or program, most commonly through stories and statistics about alumni outcomes and success centered around graduate school attendance, employment, and income.
Remember the value and ROI proposition when planning your SEO strategy, and consider keywords including “value,” “affordable,” “lower cost,” and related phrases.
A number of media and third-party rankings have emerged to measure the value of higher education, including Money Magazine’s ranking which considers quality, affordability, and outcomes. This gives institutions with favorable rankings another message point at their disposal. In the Money rankings, The College of New Jersey is among the “best public colleges for your money” and #1 in New Jersey. That’s an obvious reference for the college to make in almost all of its communications and it supports their positioning as “one of America’s best return-on-investment colleges.” Other rankings which attempt to measure value and return-on-investment include U.S. News, Forbes, The Economist, and Princeton Review as well as sites including Best Colleges, PayScale, and Niche.
Economic mobility — comparing recent graduates’ earnings to their family’s median household income — is measured in a “mobility report card” compiled by the Equality of Opportunity Project and published in the Chronicle of Higher Education. Pace University, with campuses in New York City and Westchester County, NY, has been ranked number one in this regard among private four-year institutions. “This list reaffirms Pace’s commitment to successful outcomes for our students and that education is the path forward,” says Pace University President Marvin Krislov.
Remember the value and ROI proposition when planning your SEO strategy, and consider keywords including “value,” “affordable,” “lower cost,” and related phrases.
The Power of Storytelling
Stories and photography resonate with people, so many institutions highlight student internships and alumni in successful careers as examples of how their degree programs deliver value and a return-on-investment. Some tactics to consider:
- Include internships and work-study participants during their student years as well as once they become alumni
- Go beyond boldface-name alumni or recent graduates. In lists and photographs, show a diverse range of alumni at different career stages in a breadth of fields and geographic locations
- Let pictures do the work: a photograph of the student intern or alum in front of the White House or working in an identifiable newsroom, business space, trading desk, or a compelling natural space can tell most, if not all, of the story
Value can even be central in short-form communications which are primarily visual, such as outdoor and transit advertising. “Proven” is a primary messaging keyword in the enrollment marketing of USciences, the Philadelphia-based institution focusing on healthcare and the sciences, resulting in campaigns which proclaim “Proven Everywhere,” “Proven Results,” and “Proven Careers.” On highways, boards stating “Proven Value. Lower Tuition. Top 10 in Earnings.” clearly communicate the value proposition in a few seconds. In a media release announcing the campaign, Michael Schwartzman, then executive director of marketing and communication at USciences, stated, “Prospective students and their families are learning that the rigorous education, quality training, and hands-on learning that USciences students receive translate to successful careers and top salaries.”
Some institutions concede that information, rankings, and stories alone cannot guarantee that they will recruit their desired pool of applicants, so they address rising tuition costs by freezing or cutting them. Of course, targeted media relations and other communications need to promote that. Last month, the University of California system announced that undergraduate tuition for state residents for next year will hold steady at the current level, marking the seventh time in eight years that the university has kept tuition flat for a large body of students, despite rising costs and growing enrollment. Among others, the University of Maine has been offering students from surrounding states the opportunity to enroll at the price they would have paid at their in-state equivalent. According to Forbes, at least 39 colleges have announced significant price reductions over the last 20 years, including at Drew University, Mills College, La Salle University, Sweet Briar College, and St. John’s College, the “great books” school. To highlight Drew’s approach, a headline on the homepage of its website boldly states, “Let’s be clear – college tuition is too high.”
You’re In! Now, What?
Once the cost story is told — what the expenses are, what aid options exist, and how students might measure value and return-on-investment — and an application is submitted, you’ll need to provide accepted and enrolled students clear information on next steps. At a minimum, these include:
- Calendar of due dates for all forms and information that students are required to submit, clearly labeled for each type of applicant (early action, regular decision, transfer, and international students)
- Answers to anticipated FAQs (again, consult with admissions and financial aid office colleagues to determine these)
- Information on how and when admitted students will receive an official financial aid award offer
In addition to print and digital communications, institution-specific apps are an effective way for students to view a checklist of required financial aid documents, including a to-do list and status updates on what has been submitted and what is due.
Of course, not every institution can position itself as a low-cost option, meet every need, or hold tuition through freezes or cuts. Sticker shock among students and families will vary. By being transparent about costs, revealing the gap between sticker and net, offering clear and informative descriptions of aid options, and sharing persuasive stories on how students pay for their education and thrive afterward, communications offices can make the case to prospective students and families that their institution is within reach and a worthwhile investment.