In its final report, released in May, 2021, the commission recommended a new approach to measuring postsecondary value along with a number of suggestions for how colleges and universities could provide more equitable outcomes for students after high school. Formed in 2019, the Commission is made up of 30 diverse leaders representing colleges and universities, policymakers, advocates, researchers, the business community and students. The national Postsecondary Value Commission was supported by the Bill & Melinda Gates Foundation and managed by the Institute for Higher Education Policy (IHEP). It was not designed to influence college rankings, penalize institutions, or make claims about what causes certain outcomes. Third, the tool displays outcomes but does not assign causes. For example, median earnings and the threshold comparisons are not available at the program level. Second, the data are incomplete so they must be interpreted cautiously. The tool also comes with three caveats for users.įirst, the context of an institution - its mission, state policy and financial support, local and regional labor market conditions, and history - must be kept it mind when evaluating financial value. The three lowest returns on investment, all of which were lower than the minimum economic return threshold were from the Maharishi University of Management (-$12,823), Clarke University (-$3,280) and Iowa Wesleyan University (-$1,992). Here’s another example: Which institutions in the state of Iowa yield the best and worst annual premiums compared to the minimum economic return threshold? (This question can be answered for every state.)Īmong the dozens of Iowa schools included, Drake University ($18,463), Iowa State University ($17,729) and the University of Iowa ($17,503) deliver the highest premiums. How much of an annual premium over the lowest threshold - minimum economic return - would the average graduate of each Ivy League institution realize? Here’s an example using one of these thresholds. The highest threshold is termed e conomic mobility, which is equal to earnings that are high enough for a person to place in the 60th to 80th percentile of income or above regardless of credential level within the state.The Earnings Parity threshold is set as the median earnings of advantaged peers (White, Male) for a given credential level within the state.The next threshold is the Earnings Premium, calculated as the median earnings for a given postsecondary credential (e.g., AA or BA degree) within the state.
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The lowest threshold is the Minimum Economic Return, which is equal to the median earnings of high school graduates in the state plus the total net price of attending a given postsecondary institution amortized over 10 years.
Among its unique and more revealing metrics is the concept of “economic value thresholds,” which refer to how much greater the earnings of students attending a given college will be on average compared to different earnings thresholds.
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