Is College Worth It?

A Survey of St. Norbert College Alumni

In the past few years, the national conversation has turned to both the value, not to say the return-on-investment, of a college education. At St. Norbert, we decided that we wanted a concrete answer to that question – at least from the perspective of our own graduates.

Our survey targeted those of our alumni who graduated between 1983 and 1998 – which is to say, those who have been out long enough to have become established in careers, and who are likely still pursuing those careers.

Respondents

• 419 alumni (15% of sample) responded to the survey
• 61% were female
• 38% were male
• 57% graduated 1990-1999
• 43% graduated before 1990
• Among the largest number of majors represented among the respondents were: Business 25%; Communication 12%; Accounting 8%; Education 7%
• 85% of respondents described themselves as middle class (37%) or upper middle class (48%)
• 91% were currently employed
• 82% said their position requires a college degree
• 38% described their occupational field as Management, business, or financial; 34% as Education, legal, community. 

Responses 

Important roles for colleges and universities?

• 85% rated Teaching students to think critically as “Very Important.” 
• 71% rated Providing broad-based education as “Very Important.” 
• 69% rated Providing skills/knowledge valuable in working world as “Very Important.”

Single most important reason to get an education beyond high school? (Top choices) 

• 36% Learn to think critically
• 32% Get a good job
• 27% Become a well-rounded person

Importance of college degree for future financial security?

• 54% Very important
• 31% Extremely important

Amount of money borrowed to finance SNC education?

• 23% None
• 18% <$10,000
• 29% $10,000-$19,999
• 16% $20,000-$19,999
• 15% $30,000+

Time needed for self (and partner/spouse) to repay student loans?

• 11% < 3 years
• 27% 3-5 years
• 44% 6-10 years
• 18% >10 years

Extent to which paying back student loans affected ... ? (percent reporting “Great Extent”)

• 74% delay in getting married
• 70% delay in beginning family
• 65% choice of career 

Usefulness of undergraduate education in helping to ... ? (percent reporting “Great Extent”)

• 73% increase knowledge and intellectual growth
• 72% mature as a person
• 57% understand and relate well to others
• 48% prepare for job/career
• 43% shape beliefs and values
• 37% grow spiritually/morally

Rating of the job that the higher education system does in providing VALUE for money spent:

• Excellent 7%
• Very Good 25%
• Good 35%
• Fair 20%
• Poor 8% 
• Unsure 5%

Rating of the job SNC does in providing VALUE for money spent:

• Excellent 22%
• Very Good 31%
• Good 26%
• Fair 13%
• Poor 1%
• Unsure 8%

Nov. 13, 2014