Growth Opportunities in Higher Education: A New Report from Learning House

Online education is so ubiquitous that it is no longer a differentiator for colleges and universities. According to a report from Eduventures, 3.5 million students are studying online in 2016, and the National Center for Education Statistics says that more than 450 new providers started offering online degree programs between 2012 and 2014.

So if simply offering online programs is no longer enough, what can colleges and universities do to stand out in a competitive market?

In “Growth Opportunities in Higher Education: Degrees and Alternate Pathways,” we help to answer this question. We did extensive research to determine not only what online degrees institutions should offer, but also to reimagine how higher education is delivered. We used labor insights from CEB TalentNeuron, a best practice insight and technology company, and updated some of the degrees and findings from the 15 Online Degrees for the Future report, published in 2014. Here are just a few highlights.

Recommended Online Degrees

According to our “Online College Students 2015” report, 62 percent of college students decide on their program of study before choosing an institution. Colleges that offer the right program have a better chance of attracting students, so knowing what fields of study are of interest to the students not only of today, but also of tomorrow, will be of critical importance to those institutions that hope to survive in the chaotic world of higher education. Not all of the degrees recommended are right for every institution; factors such as local labor markets, brand identity, alumni networks and corporate partnerships all play a role in deciding what programs should be offered.

Bachelor’s — Computer Science. The demand for well-trained IT professionals is projected to grow 12 percent from 2014 to 2024, according to the Bureau of Labor Statistics (BLS), which is faster than average. This growth is reflected in the number of openings for computer programmers; CEB TalentNeuron listed 140,000 positions open in March 2014, while there were 178,000 total positions in February 2016 — a growth of 27 percent. Institutions should focus on both the theory of computer science and programming as well as practical skills, which will help ensure graduates land jobs soon after graduation and will lead to strong outcomes.

Bachelor’s — Market Research. Job growth for market research positions is strong, with 42 percent more jobs open in February 2016 than in March 2014. Not only is demand high, but competition is low. According to the Department of Education’s IPEDS database, only five institutions nationally reported conferring market research degrees in 2014. While many marketing programs may offer a course or two in market research, few offer a full degree. These programs should teach skills such as knowledge of SQL and use of software packages like Statistical Analysis Software (SAS).

5-Year Master’s — Accounting. The BLS is projecting double-digit growth for accountants and auditors between 2014 and 2024. At the same time, there have been changes in the requirements to sit for the Certified Public Accountant (CPA) exam. It now requires 150 hours of educational credit, which is more than a typical bachelor’s degree. Offering an all-in-one, five-year program that allows students to enter as an undergraduate but exit with a graduate degree is an innovative, cost-effective way for institutions to offer an in-demand degree and improve student retention rates, since they are earning the master’s degree for a specific purpose.

Doctoral Degree Programs. As of 2014, only 4.4 percent of doctoral programs were online — significantly lower than bachelor’s (8.1 percent) and master’s (16.4 percent) degree programs. This opens up a significant area of opportunity for institutions to offer in-demand programs where there is low competition. Programs that focus on strong job opportunities, such as business, healthcare and education, offer the strongest areas of growth for doctoral programs online.

Alternative Learning Pathways for the Future

Increasingly, the value of a college degree is being questioned. As costs spiral and student loan debt balloons, consumers are looking for options that provide them with practical skills for a low time and cost investment.

Bootcamps. My belief in the power of bootcamps is well-known; I firmly believe that these short, focused, skills-based programs are critical to filling the job needs of the United States. Currently, bootcamps are primarily geared toward computer programming, but I think there is a lot of room for other types of bootcamps, such as ones in marketing, statistics, user experience or more.

Badges. As more students gain experience via the workforce or alternate learning pathways, badges will become an increasingly important way to validate their skills and the knowledge they have acquired. UMass Online is offering a badge program in project risk management, while LinkedIn, through Lynda.com, is offering more than 50 Learning Paths, which are a series of instructional videos accompanies by quizzes. Upon completion, users are awarded an electronic certificate. Institutions that can lend the weight of their brand to the validation of learning have a significant opportunity in a nascent field.

Stackable Certificates. Stackable certificates allow students to break a long degree program into more manageable chunks, earning certificates along the way. This type of program creates shorter milestones of progress for students to work toward. It also gives institutions more flexibility in fields that have rapidly changing technology and career requirements.

What’s Next

While the degrees and alternative pathways outlined above should provide benefit now, I always want to look to the future. Anticipating where the market need will be is a good way to be one of the early adopters of technology and stay ahead of the competition. I believe that curated degrees and lifelong learning are going to be the next big frontiers of education.

With curated degrees, students who are constantly picking up credits and experiences along their educational and work journey will be able to get credit for these experiences and craft their own path to a degree. This will help fill the need of students who must enter the workforce before finishing a degree, and will encourage students to continue learning no matter their educational circumstances.

Along those same lines, lifelong learning represents the concept that we never stop learning, even after we graduate. The world is changing rapidly, and the amount of knowledge needed to stay current is growing exponentially. No longer can you graduate college and consider your education complete. Instead, education is a journey, and lifelong learning would enable students to go back to college regularly.

These are just a few of the degrees and alternate pathways outlined in the report. Download the full report here, and then let us know what you think. Where do you envision the future of higher education heading? What growth opportunities do you see?