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Education Dive
Which associate degrees give students a bargain?
Natalie Schwartz
Oct. 14, 2020
Dive Brief:
Some associate-level programs have similar or better returns on
investment than more advanced degrees in other fields one year after
graduation, according to a new report from Georgetown University's
Center on Education and the Workforce (CEW).
The report points to some nursing and STEM degrees, in particular, as
having high value for associate degree holders. Programs in-demand
locally can also yield large returns, the report's lead author said.
The analysis is based on program-level data from the College Scorecard,
an online tool from the U.S. Department of Education. Researchers say
having this data accessible could increase accountability among
colleges.
Dive Insight:
The Education Department revamped the College Scorecard last year to
include program-level data, such as student debt levels and earnings,
following an executive order asking the agency to expand the online
tool.
The data reveals that first-year earnings can vary widely within degree
levels. About one-fifth of associate-degree holders earned a median of
$24,000 or less one year after graduating, but 15% earned up to $48,000
and 10% earned up to $96,000.
While selective and well-known schools often graduate students with
higher wages, fields of study can also make a difference in earnings.
Graduates who received their associate degrees in nursing from
LaGuardia Community College, in New York, earned a median annual salary
of $60,200 one year after completion, while graduates of the associate
business program at Northern Virginia Community College earned a median
of $31,300 annually.
Graduates in high-demand fields, such as healthcare and STEM, tend to
see high wages, even at less-selective schools. And community colleges
often have programs that tap into local workforce needs.
The report calls out the electrical and power transmission associate
program from West Virginia's Pierpont Community and Technical College,
where graduates earn a median salary of around $80,000 a year after
graduation. "This is not a market in which elite well-known colleges
will even compete," Anthony Carnevale, Georgetown CEW's executive
director and lead author of the report, wrote in a statement emailed to
Education Dive.
The report notes that students with associate degrees can have similar
monthly debt payments as those with bachelor's and master's degrees,
though advanced degrees usually come with the highest debt levels.
Earnings net of debt, a key measure of affordability, also tends to
rise at each subsequent degree level.
The researchers hope the program-level data will spur colleges to
improve their programs that lead to high levels of debt or low
earnings. Schools could do so by tying the curriculum to workforce
needs, combining them with other programs or lowering the credential
level — to a certificate, for example — so students don't have to
invest as much time and money, Carnevale wrote.
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