Can Higher Education Survive the ROI Crisis?

By Nick Puleo

Colleges and universities face no shortage of challenges in 2021: COVID, racism, cancel culture… International student numbers have plummeted. And that’s just scratching the surface. Yet, as these hot-button issues grab headlines, another more persistent question lurks: Is college even worth it? 

That query poses a major challenge to the reputations of higher education institutions who have long-touted “world-class” programs that would “prepare students for the twenty-first century.” And this speculation couldn’t come at a worse time: applications are down across the country and many schools - especially tuition-dependent institutions - are feeling the financial squeeze. 

Many in higher education take for granted that the answer to the above question is a resounding “yes.” College graduates, on average, have higher lifetime earnings and access to higher skill/pay jobs. But those higher-paying jobs aren’t guaranteed. And the rising cost of higher education - and resultant student loan debt - make higher pay moot for many. 

The disconnect between data and perception continues to widen. Colleges are facing a new generation of students (and their parents) wondering if there truly will be a return on their investment. 

More than half of millennials with student debt say their loans weren’t worth it. And the number of Americans saying college is definitely worth the investment has declined more than 30 percentage points since 2013. There’s also a growing partisan divide with more Democrats than Republicans seeing worth in a college degree. 

How can higher education marketing and communication professionals counter this doubt? 

Own Your Niche

Do what you are good at. Lean into what your school is known for, whether it’s a reputation for educating excellent nurses, helping first-generational college students transition, or making art accessible to all. Too many schools are trying to be everything to everyone and failing. Rather, what stands out in this environment are schools that create a specialized experience for the students who attend. 

Illustrate Success

You have to share your success stories and make them relatable to a variety of constituencies. Beyond sharing the highlight reel of big-named donors or scholarship recipients, schools need to look for the other students who are using the institution to reach their goals. Focus your search on ordinary alumni who are 5-10 years out of school and share the real skills and real jobs they have gotten because of your institution. 

Tell Your Story in a Unified Voice

The entire institution needs to speak with one voice. Too often we see colleges and universities with too many different communicators focused on different goals. Take stock of what your biggest challenges are and collaborate with your various teams to come up with common talking points. Then, educate your various departments so it doesn’t matter where someone is speaking from - whether it’s a nursing faculty member, or the architecture chairperson - they’re using the same language to speak about the master brand.  

Comsint’s team of communication strategists are relentlessly focused on developing and protecting our clients’ brands. Take advantage of our higher education industry knowledge and contact us today.