Tech Peak » By the Numbers: What is the Value of an Online Degree?

By the Numbers: What is the Value of an Online Degree?

by benjaminorigin

Many students still wonder if an online degree is worth it. Even with accredited programs, flexible schedules, and reputable schools, people still question the value of online education. If you’re wondering if you should go ahead and choose an online degree, here’s a look at the numbers and what they mean. 

More Demand for Higher Education 

It was in 2020 when the global pandemic hit and highlighted the demand for higher education. It questioned the long-term viability of master’s degrees and programs. The results of that question, when posed to the general populace, confirmed that Americans continue to see a competitive advantage in higher education degrees, Third Way recounts. About 73 percent of voters believe that colleges should focus on providing degrees that ensure students achieve success in their fields. 

Job Market Shift 

Few job opportunities were open during the pandemic. Numerous companies had their teams put a hold on recruitment and hiring. That freeze-hire didn’t last long. These days, recruiters say they’re back to BAU (business as usual), the New York Time sreports. That further solidifies the value of online degrees and programs, especially those that offer higher education degrees. 

High Enrollment for Religious Schools

The Washington Examiner says several online Christian colleges showed high enrollment in their higher education classes. Management credits the spike in enrollment to the schools’ vision and how they approached classes in the face of COVID-19 restrictions. That goes against the national trend of declining enrollment, with college enrollment nationwide dropping by more than a million students since 2019. In 2020, the biggest drop in college student enrollment occurred. However, religious schools or faith-based schools seem to fare better, with high levels of enrollment. When asked, 50 percent of incoming students mentioned that the school’s mission, sense of community, and academic excellence were the most common reasons they chose to enroll in the colleges. COVID seems to have helped the process along, but the real reason is that families resonated with the communities and potential students connected better to the mission, especially at a time when the pandemic was leaving communities and families grieving. 

Rise of Online Learning 

COVID-19 forced schools to shift to distance learning. For students, that meant going to their classes online. It was a huge departure, especially for students used to commuting to and from their classes, seeing friends, classmates, and professors, and staying on campus. For working professionals who wanted a chance at pursuing higher education degrees, it meant going online. Professionals wary of trying online degrees gave the programs a shot during the pandemic and found the results satisfying. It’s also vital to note that the quarantine and restrictions meant people spent most of their time at home. Employees coming to work in offices had to learn how to use video apps and platforms to communicate with their teams. That knowledge of online tools contributed to the rise in higher education enrollment. Working professionals who knew next to nothing about online tools and apps now had to learn those tools to go to work. That gave them the skills they needed to finally tackle online programs and classes. It didn’t take long for many professionals to jump at the chance to enroll in higher education programs. 

Opportunities for Higher Salaries 

Working professionals now had a chance to improve their income and paygrade. Those with a bachelor’s degree can earn a median weekly salary of $1,305. That is about $67,860 when you translate that to an annual median salary. Workers with only a high school diploma had an average weekly earning capacity of $781. However, after completing online higher education degrees, working professionals can look forward to earning more than that. For instance, the Higher Education IT Salary Report puts the median for higher education salaries at $90,000. Overall, professionals with higher education earn about $3,700 or more than the median salary for many other occupations in the United States. 

Flexible Learning Options 

Many students can also pursue higher education because of the programs’ flexibility. It’s incredibly convenient for working professionals who must put in 8 hours at work. Online classes allow them to log in from anywhere, and the pre-recorded materials also encouraged them to learn at their own pace. 

Many students continue to question if earning a degree online is worthwhile. People continue to question the worth of online education despite authorized program, adaptable schedules, and respected institutions. Here’s a look at the statistics and what they mean if you’re debating whether you should take an online degree.

Higher Education is in more Demand

The global pandemic that struck in 2020 brought attention to the need for higher education. It questioned the master’s degrees and program’ long-term viability. According to Third Way, the results of that survey, which were given to the broader public, showed that Americans still view higher education degrees as a competitive advantage. Approximately 73% of voters think that institutions should concentrate on offering degrees that guarantee students success in their fields.

Changing Job Market

During the pandemic, there weren’t many open positions. Teams from many businesses decided to pause hiring and recruiting. That freeze-hire was short-lived. According to recruiters today, things are back to business as normal, according to an article in the New York Times. In particular, those that offer higher education degrees, the importance of online degrees and program is further reinforced by this.

High Number of Students in Religious Schools

The Washington Examiner reported that some online Christian universities reported strong enrolment in their graduate-level courses. The management attributes the increase in enrolment to the schools’ vision and approach to teaching in the face of COVID-19 constraints. That goes against the general trend of diminishing enrolment, with more than a million fewer students enrolled in colleges nationally since 2019. The biggest decrease in college enrollment happened in 2020. Religious or faith-based schools, on the other hand, appear to do better, as seen by their high enrolment rates. When questioned, 50% of prospective students stated that the mission of the institution, the sense of community, and academic excellence were the main factors in their decision to attend the college. The procedure appears to have benefited from COVID, but the true explanation is that, especially during the time when the epidemic was leaving towns and families in mourning, families related to the communities and prospective students bonded more strongly to the mission.

Growth of Online Education

COVID- 19 required schools to switch to online education. That required the students to attend their classes online. It was a significant change, especially for students accustomed to staying on campus, seeing friends, classmates, and professors, and commuting to and from their classes. Going online was the only option for working individuals who wanted to have a shot at pursuing higher education degrees. Professionals who had been hesitant to try online degrees did so during the pandemic and were pleased with the outcomes. It’s also important to remember that because to the quarantine and limitations, most individuals stayed at home. When they started working in offices, employees had to learn how to communicate with their teams using video apps and platforms. The understanding of web resources helped with the enrolment growth in higher education. Working professionals who had little to no experience with online tools and apps suddenly needed to master them in order to use them. That gave them the knowledge and abilities they required to ultimately take on online courses and programs. Many professionals quickly seized the opportunity to enroll in higher education programs.

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