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Career College Sector Report Career College Sector Report Accountability Accountability & Outcomes & Outcomes Michael J. Cooney Editor, Career Education Review

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Page 1: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

Career College Sector ReportCareer College Sector Report

Accountability Accountability & Outcomes& Outcomes

Michael J. Cooney Editor, Career Education Review

Page 2: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

The Career Educator’s Challenge

Do your graduates get

jobs?jobs?

The Value Proposition in The Value Proposition in Today’s EconomyToday’s Economy

Page 3: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

Higher Education Challenge 2009

3.3 Million High School Graduates – June 2009

1 Million College Graduates – June 2009

Career & Community College Enrollment up 20–30%

Many Workers Delaying Retirement if Possible

Unemployment Rate Continues to Rise to Near 10%

1.2 Million High School Dropouts Each Year

Page 4: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

College for All (Pre-Recession)

90% of high school seniors expect to go to college

70% Expect to work in professional jobs

67% of high school seniors go on to college

50% Finish college in five or more yearsMany with unproductive degrees

Thus 50% failNo skills / no degree

Plus most all have student loans

Page 5: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

The Curse of the Class of 2009For College Grads Lucky Enough to Get WorkThis Year, Low Wages are Likely to Haunt Themfor a Decade or MoreWall Street Journal 5/9/09

Major Trends in Employment: College Graduates Now Facing Higher Unemployment, U-6 Rate now at 14.8%, and 4.3 million jobs lost duringthis Recession.The rate for college graduates has doubled in one year meaning that higher paying jobs are now falling in large numbers. My Budget 360 3/09

Page 6: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

New Level of Criticism of Higher Education

The Four-year College MythIt’s a path ingrained in us: Go to a University right afterHigh school and graduate in four years. But that couldn’tBe further from reality. And until education leaders takethat into account, too many students will lose out.Boston Globe 5/31/09

4-year colleges graduate 53% in 6 YearsAnd some are far below that average, study findsUSA Today

Universities will be “irrelevant” by 2020 BYU Professor SaysDesert News 4/20/09

Page 7: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

Broader U-6 Unemployment Rate Hits 17.5%Wall Street Journal 11/6/09

At No Time in Post-World War II AmericaHas it Been More Difficult To Find a Job!Huffington Post 11/9/09

MBA’s Confront a Savage Job MarketThe MBA Class of 2009 was hit harder than expected by the recession. At some top schools, 1 in 5 are jobless 3 months after graduationBusiness Week 10/29/09

Student Loans Coming Due, Job or No JobThe Columbus Dispatch 11/9/09

Page 8: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

Are Too Many Students Going to College?The Chronicle of Higher Education 11/8/09

Two-Year Colleges, Swamped, No Longer Welcome AllNew York Times 11/11/09

Page 9: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

Career College Sector Under Increased Scrutiny

GAO ReportStronger Department of Education Oversight Needed toHelp Ensure Only Eligible Students Receive Federal Student Aid

Congressional HearingsEnsuring Student Eligibility Requirements for Federal Aid

Neg Reg IIIncentive Compensation, state authorization, gainful employment in a recognized occupation,definition of a credit hour, and satisfactory academic progress)

Negative Press The Growing Student Debt Crisis at Career CollegesStephen Burd, Higher Ed Blog

Page 10: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

“They” are looking like” us.”“We” are looking like “them”

Career focused programs

ROI considerations

Three year bachelor degrees

No frills campuses

Page 11: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

The Recessionary Student Market Boom

September 2009

9.1 million individuals 25 years and over were unemployedAnd had not attained a bachelor’s degree or higher

Up from 5.5 million only a year ago.

Stifel Nicholaus 10/21/09

“We expect aggregated enrollment growth to increaseabout 23%, slightly below last quarter’s 25%…wellabove the 3-year average of almost 12%.”

Page 12: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

Thus, the 2009–2010

Career College Graduate Placement Challenge

Page 13: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

Placement Challenge

What if, in your state, a highly regarded careercollege, after experiencing a 30% growth inenrollment, then reported a 50% graduateplacement rate, which meant that they wereplacing about the same number of graduatesthat they were before the recession?

Page 14: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

Would you:

1. Recognize them for outstanding work in a difficult job market and helping advance the careers of half their graduates?

2. Put them on show cause for failing to place half their graduates who now have student loans to pay and no job?

• Both of the above?

• Misplace their file?

Page 15: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

Beware theBeware the

Wave!Wave!

Nationally enrollment is upNationally enrollment is up20 - 30% or more at20 - 30% or more at

Career & Community CollegesCareer & Community Colleges

IT IS THE BEST OF TIMES…

Page 16: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

Beware the Wave

The the challenge is to place 20 - 30% more graduates in a job market with 10% (17%) unemployment.

Thus longer job search time and a growing pool of graduates waiting to be placed in a very competitiveJob market.

Rising default rates for graduates than now exceedsThe rate for non-completers.

Page 17: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

Beware the Wave

The the challenge is to place 20 - 30% more graduates in a job market with 10% (17%) unemployment.

Recommendation:

Apply Admissions/Marketing type resources to job search / placement activities to gain

sustained market credibility.

Page 18: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

Beware the Wave

Have we acceleratedaccelerated the enrollment of our traditional market And thus depleteddepleted the pool of prospects for the near future?

Thus to maintain current enrollment levels will colleges seekto expand their enrollment efforts with either ATBATB studentsOr the traditional “State U”“State U” student?

Plus competitive colleges (especially public companies) will increase their marketing expenditures to maintain the currentlevel as the “new normal.”

Page 19: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

Beware the Wave

Have we acceleratedaccelerated the enrollment of our traditional market And thus depleteddepleted the pool of prospects for the near future?

Thus competitive pressures will increase in 2010

Page 20: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

It’s the best of times…

…it is all about student outcomes!

And if we are going to survive as a sector then…

Page 21: Career College Sector Report Career College Sector ReportAccountability & Outcomes Michael J. Cooney Editor, Career Education Review

A few Ideas:

• Employer engagement is vital.

• Brand your curriculum.

• Increase student services

• Move from a “placement” model to a “job search” model.

• Teach entrepreneurial skills.

• Creative a Culture of Innovation.