Hello feynman-ga,
The answer to both your question is, ?It depends.?
Although there is an almost universal consensus that getting a college
degree will lead to higher life time earnings, it is important for
your wife to evaluate the probable return on investment based on her
specific situation. I?ve collected a variety of articles to help her
do this. Some of the issues to consider are the opportunity costs vs.
rate of return on completion of the education she plans to engage in.
The time required to complete her degree will greatly impact these
calculations.
I?ve found several resources to help your wife compare the value of an
online only vs. traditional brick-and-mortar degree program. The
information shows that online only programs are gaining acceptance.
The articles I?ve included will help your wife review her situation in
light of the various online options available.
I hope that the information I?ve collected will help you and your wife
evaluate her options so that she can make the best decision for her
future education.
Wishing her well in her academic career.
~ czh ~
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VALUE OF A COLLEGE EDUCATION
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http://www.careerexplorer.net/articles/roi.asp
Let's Do The Numbers
In Which We Offer a Method for Calculating the Rate of Return on Your
Investment in Higher Education
The wisdom of individuals investing in their own higher education is
illustrated by recent figures from the Federal Reserve. As reported in
the March 14, 2000 issue of The Wall Street Journal, the pretax median
annual income for American families with a high school diploma was
$29, 200 in 1998. That median income rose by 21.5 percent to $35,500
for families with some college education. The median income for
families with a college degree was $54,700 -- a full 87.3 percent
higher than the income for families with just high school education.
But how quickly does a particular professional educational program
pay, and how much? What is a program's long-term value, and how soon
will students see a short-term return on their educational investment?
***** This article gives you the tools to do a cost/benefit analysis
on getting an education and how to figure out your return on
investment of time and money.
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http://www.businessweek.com/magazine/content/03_28/c3841038_mz004.htm
JULY 14, 2003 -- Women Get More out of a College Degree
While 54% of all college students are women, this is because 62% of
college students over age 35 are women ("The new gender gap," Cover
Story, May 26). Women earn relatively more than do men by pursuing
education. According to U.S. Census Bureau data, a woman working in
1997 in the "sales" occupation category that requires no college
degree earned $10,600, while a man in the same field earned $27,600. A
woman with a college degree working in a "professional specialty"
occupation earned nearly $30,000 in 1997, and a man $46,000. A woman
would have increased her income by 183% by obtaining a college degree,
but a man's income rises by only 70%.
***** This is a letter to the editor that provides some interesting statistics.
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http://www.workforce.com/section/11/feature/23/71/79/
Workforce Management, May 2004, pp. 32-38
A Matter of Degrees
Corporate America spent $10 billion on tuition reimbursement in 2003,
but few companies track how those dollars are spent, or know whether
they are getting any benefit by underwriting employees' degrees. It's
not that ROI can't be measured. It's just that many companies don't
seem to care about it.
What many people, including workforce managers, don?t realize is that
for-profits are fully accredited as degree-granting institutions by
the same regional accrediting agencies that oversee nonprofit
universities like Harvard and UCLA
For students five years past their graduation, the kind of degree they
hold and where they got it don?t matter much in the business world,
says Dave Opton, CEO of online job board Execunet. "They?re judged by
their track record," Opton says. "If anything, the fact that they?ve
gone on and gotten their degree can only be seen as a plus."
***** This is an excellent article reviewing the question of return on
investment on tuition reimbursement programs from the employer?s
perspective. It includes several examples of online degree programs
that should help you with evaluating your options.
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http://www.benefitnews.com/education/detail.cfm?id=42
ROI strategy worthy of high marks for education benefits
With regard to establishing an effective policy, he encouraged
distance learning as a cost-effective alternative to on-site classes.
Using the Chicago area to illustrate the potential for savings, he
showed that distance learning costs averaged $722 compared with about
$1,000 in tuition among a number of second-tier colleges.
***** This is a short article that looks at employee education ROI
from the benefits manager?s perspective.
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http://www.martynemko.com/pub/articles/shouldyougotocollege.shtm
Sure You Should Go to College?
http://www.martynemko.com/pub/articles/degreeproliferation.shtm
Degree Proliferation: Protecting Yourself from the Fallout
http://www.martynemko.com/pub/articles/commwealth1.shtm
Transcript: America's Most Overrated Product: Undergraduate Education
***** These articles takes a contrarian view about going to college.
This author argues that the return on investment is not worth it for
some people.
============================
VALUE OF AN ONLINE EDUCATION
============================
http://www.collegejournal.com/jobhunting/searchstrategies/20011108-vogt.html
Will Employers Value Degrees Earned Online?
Is a clicks-and-mortar degree the same as a degree from a
bricks-and-mortar school? It depends on whom you ask. The American
Federation of Teachers said "no" at its July 2000 convention, passing
a resolution that, while acknowledging distance learning's "great
potential," called for all undergraduate-degree programs to have some
face-to-face coursework. Meanwhile, the six regional U.S.
organizations that accredit American colleges and universities are
developing guidelines for evaluating distance-education schools and
programs that differ from traditional higher-education accrediting
standards.
Indeed, prospective employers are the true "judge and jury" when it
comes to the perceived "credibility" of online degrees. Yet hiring
managers have mixed opinions of online degrees and online education in
general.
***** This article presents an excellent discussion of the pros and
cons of getting an online degree and the perception of its value in
comparison to tradition on-campus programs.
-------------------------------------------------
http://moneycentral.msn.com/content/Savinganddebt/Finddealsonline/P42609.asp
Is an online degree worth anything?
Yes, say employers and grad schools -- if you find a legitimate,
accredited program. Here's how to tell the real thing from a degree
mill.
Can you apply to a grad school, get a job?
John Bear, co-author of "The Bear's Guide to Earning Degrees by
Distance Learning," surveyed 1,200 randomly selected registrars across
the country to help answer part of this question. (He picked them all
from the American Association of Collegiate Registrars and Admissions
Officers member list.) Of the 330 useful replies, 92% accepted
online-only degrees (compared with 100% acceptance for traditional
4-year offline degrees). Of the 8% who indicated they may not accept
online degrees, most said they'd review the online program on a
case-by-case basis.
***** This is a long article that gives you some valuable tools for
examining your options regarding online degree programs.
-------------------------------------------------
http://www.geteducated.com/articles/qualitydistancedegree.htm
Online College Degrees: Public & Employer Acceptance
In a reviewing 355 research studies and reports on distance learning,
Dr. Thomas Russell of the University of North Carolina, discovered
that when campus learning is compared to distance learning there are
"no significant differences" in learner outcome or satisfaction. While
many factors effect the overall quality of an educational experience,
delivery method alone is not one of them.
Since 1996 there has been a sharp increase in the acceptance of
distance degrees. This appears to be related to the rise of the
Internet as a delivery method: Americans trust the Internet, and
therefore tend to trust degrees delivered this way more than those
delivered by older technologies such as cable TV, radio, and mail
correspondence.
A sharp rise in the number of established brick and mortar educational
institutions that offer distance degrees has also heightened public
acceptance.
Universities that lack a brick-and-mortar legacy, offering degrees
only by correspondence, earn the lowest approval marks. People are
waiting for a new generation of "Internet Only" universities to prove
themselves. They tend not to trust universities that operate
distance-learning programs only.
***** This article presents research results from several surveys that
should help you with evaluating your various online degree options.
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http://www.back2college.com/onlinedegrees.htm
How Do Employers View Online Degrees?
Though concerns exist, acceptance is on the rise in an emerging industry
Recognized institutions with online degree programs carry more weight
with employers than degrees awarded by lesser known schools. A
Vault.com study reports that 77 percent of hiring managers say that an
online degree received through an established university such as Duke
or Stanford is more acceptable than a degree earned through an
Internet only university like Capella or Jones International. However,
some say such an assessment is unfair, as Capella and Stanford have
the same regional accreditation and uphold rigorous academic
standards.
Despite concerns, acceptance of online degree programs is on the rise.
Many corporations are hiring applicants with online degrees, or
providing tuition reimbursement. As more traditional and quality
institutions begin to offer these programs, they will become more
common and widely accepted.
-------------------------------------------------
http://www.vault.com/nr/newsmain.jsp?nr_page=3&ch_id=421&article_id=19393&cat_id=2575
Is an Online Degree Worthwhile?
Vault surveyed 239 HR professionals on their opinions regarding
candidates with online degrees.
The following are the results from the survey:
***** This is the study from Vault that is quoted is several of the above articles.
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