The value of investing in a college degree has long been debated in many forums. Given the significant amount of time and money colleges students devote to a traditional or online education, is the return on investment actually worth it?
While experts disagree about the exact value of a college degree, they are nearly unanimous in thinking that an associate degree represents a sound investment. Although pursuing a college degree comes with the potential of significant financial debt, college graduates can earn substantially more over a lifetime than high school graduates. In fact, the United States Census Bureau reports that during the years devoted to work, an adult who has an associate degree enjoys an average of $400,000 more in earnings over those who have a high school diploma alone.
Associate Degrees Get the Presidential Stamp of Approval
Community colleges, which primarily grant associate degrees, have been in the spotlight recently. The White House held a summit in October to discuss the impact of community colleges in developing America's workforce. It was also charged with the task of exploring ways to achieve President Barack Obama's goal of Americans earning an additional 5 million community college degrees and certificates by the year 2020. The summit was hosted by Vice President Joe Biden's wife, Dr. Jill Biden, who is a community college professor.
"This is an historic and exciting opportunity for all of us in the community college world," said Dr. Biden prior to the summit. "For years I have said that community colleges are one of America's best-kept secrets. Well, with the President of the United States shining a light on us, I think that secret is out."
Online Associate Degrees Help in Career Training, Retraining
Perhaps the primary motivation behind the White House's increased interest in two-year colleges is the role they are playing in helping unemployed Americans re-brand themselves to find work in industries unrelated to their primary career. Over the past several years, community colleges from California to New Jersey have seen a 24 percent increase in enrollment and have become valuable resources to those hoping to gain new skills to re-enter the workforce. Associate degrees typically provide career-oriented skills in a short time frame, allowing career-focused adults to gain marketable skills and enter the job market quickly.
The flexibility of online associate degree programs allows working adults to get the career training they need for advancement without leaving their current position. In a labor market that has many adults looking to re-tool their skill set but unable to leave current jobs, online degree programs can be an ideal way to retrain for a new career without having to miss the mortgage payment.
Community Colleges Facing Budget Crunch
But the same recession that is leading people towards community campuses is what is causing many two-year colleges to put limits on enrollment and reduce course offerings.
"Unfortunately, because of the burden the recession has placed on state and local budgets, community colleges have been forced to cap enrollments and scrap courses, and even in the best of times, they receive far less funding than four-year colleges and universities," President Obama said at a recent Economic Recovery Advisory Board meeting.
At the same meeting he announced the launch of a new program called "Skills for America's Future" that aims to improve industry partnerships with colleges "...to help community colleges and employees create programs that match curricula in the classroom with the needs of the boardroom," the President said.
The private sector is also joining the cause to help colleges continue to provide resources necessary to help America's students succeed. An announcement that The Bill and Melinda Gates Foundation will invest $34.8 million for a program called "Completion by Design" was also broadcast at the gathering, which included 150 college presidents, students and business leaders. In addition, the White House is encouraging some healthy competition among campuses by launching the "Aspen Prize for Community College Excellence," which writes a hefty check in the amount of $1 million to the institutions that have superior academic and workforce outcomes.
With the support of the White House and generosity of big business, community colleges will hopefully receive the resources necessary to maintain their role in the higher education system. Regardless of whether you choose to pursue a traditional degree path or online associate degree, community colleges continue to work hard to provide support to students who have discovered not only the financial benefits of an associate degree, but also the flexibility of scheduling and the opportunities it creates in a very competitive workforce.
While experts disagree about the exact value of a college degree, they are nearly unanimous in thinking that an associate degree represents a sound investment. Although pursuing a college degree comes with the potential of significant financial debt, college graduates can earn substantially more over a lifetime than high school graduates. In fact, the United States Census Bureau reports that during the years devoted to work, an adult who has an associate degree enjoys an average of $400,000 more in earnings over those who have a high school diploma alone.
Associate Degrees Get the Presidential Stamp of Approval
Community colleges, which primarily grant associate degrees, have been in the spotlight recently. The White House held a summit in October to discuss the impact of community colleges in developing America's workforce. It was also charged with the task of exploring ways to achieve President Barack Obama's goal of Americans earning an additional 5 million community college degrees and certificates by the year 2020. The summit was hosted by Vice President Joe Biden's wife, Dr. Jill Biden, who is a community college professor.
"This is an historic and exciting opportunity for all of us in the community college world," said Dr. Biden prior to the summit. "For years I have said that community colleges are one of America's best-kept secrets. Well, with the President of the United States shining a light on us, I think that secret is out."
Online Associate Degrees Help in Career Training, Retraining
Perhaps the primary motivation behind the White House's increased interest in two-year colleges is the role they are playing in helping unemployed Americans re-brand themselves to find work in industries unrelated to their primary career. Over the past several years, community colleges from California to New Jersey have seen a 24 percent increase in enrollment and have become valuable resources to those hoping to gain new skills to re-enter the workforce. Associate degrees typically provide career-oriented skills in a short time frame, allowing career-focused adults to gain marketable skills and enter the job market quickly.
The flexibility of online associate degree programs allows working adults to get the career training they need for advancement without leaving their current position. In a labor market that has many adults looking to re-tool their skill set but unable to leave current jobs, online degree programs can be an ideal way to retrain for a new career without having to miss the mortgage payment.
Community Colleges Facing Budget Crunch
But the same recession that is leading people towards community campuses is what is causing many two-year colleges to put limits on enrollment and reduce course offerings.
"Unfortunately, because of the burden the recession has placed on state and local budgets, community colleges have been forced to cap enrollments and scrap courses, and even in the best of times, they receive far less funding than four-year colleges and universities," President Obama said at a recent Economic Recovery Advisory Board meeting.
At the same meeting he announced the launch of a new program called "Skills for America's Future" that aims to improve industry partnerships with colleges "...to help community colleges and employees create programs that match curricula in the classroom with the needs of the boardroom," the President said.
The private sector is also joining the cause to help colleges continue to provide resources necessary to help America's students succeed. An announcement that The Bill and Melinda Gates Foundation will invest $34.8 million for a program called "Completion by Design" was also broadcast at the gathering, which included 150 college presidents, students and business leaders. In addition, the White House is encouraging some healthy competition among campuses by launching the "Aspen Prize for Community College Excellence," which writes a hefty check in the amount of $1 million to the institutions that have superior academic and workforce outcomes.
With the support of the White House and generosity of big business, community colleges will hopefully receive the resources necessary to maintain their role in the higher education system. Regardless of whether you choose to pursue a traditional degree path or online associate degree, community colleges continue to work hard to provide support to students who have discovered not only the financial benefits of an associate degree, but also the flexibility of scheduling and the opportunities it creates in a very competitive workforce.
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