Attitudes were similar for alumni of private-nonprofit and public universities.
While private schools are far more expensive, alumni attitude was similar. For example, 52 percent of public university alumni and 47 percent of grads from private nonprofit universities thought their education was worth the expense. But only 26 percent of private for-profit university graduates thought the cost was worth it. “Alumni from for-profit schools are disproportionately minorities or first-generation college students and are substantially more likely than those from public or private nonprofit schools to have taken out $25,000 or more in student loans,” the report says.
Alumni experiences in the job market impact the way that they view their college education.
How alumni answered the questions depended, in part, on their circumstances after graduation. For example, graduates who were underemployed were less likely to say that their education was worth it. Those with higher salaries were more likely to say their education was worth it. Among those making more than $120,000, 51 percent strongly agreed that their education was worth it; while among those making $36,000 or less, 31 percent thought their education was worth it.
Graduates who have been out of college since 2006 were more likely than recent graduates to say that the cost of college was worth it. “To some extent,” the report said, “older alumni might be more likely to say their education was worth it because they are further along in their careers and making more money.”
Professors make a difference.
Graduates were more likely to say that education was worth the cost if they had a mentor during their college years, found a professor who made them excited about learning or cared about them.
Spa-like environments probably don’t make a difference.
Schools invest in top-tier fitness centers, plush dorms and dining facilities to attract students. “While graduates might have appreciated those amenities at the time, in the long run, they may have been better off paying less money for college but having better relationships with those who could help them carve out a vision for their future and map a course for long-term success,” the report said.
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