New research data show that the college graduation rate, frequently advertised as a startlingly low 59 percent, is even lower than originally anticipated.
Though the National Center for Education Statistics calculated the 59 percent figure, the D.C.-based centrist think tank Third Way recently found that the actual figure is likely closer to 45 percent using the same database.
Previously calculated graduation rates neglected to include part-time and transfer students, even though this designation now applies to 25 percent of all students. Colleges and universities themselves noted that leaving these students out when calculating rates likely skewed the original figure.
The new analysis shows, with part-time and transfer students included for the first time, that only 45 percent of those who entered an institution of higher education in 2008 obtained an award or degree by 2016. The group notes particularly “paltry” graduation rates for two-year institutions, who graduated only 42 percent of students after eight years.
Additionally, when part-time students are separated out, they are even less likely to graduate than their full-time peers. Only 24 percent of part-time students earned a degree or award from their institution eight years later, as compared to 53 percent of full-time students over that same time frame.
This new research comes at a crucial time, as the percentage of part-time students is projected to increase dramatically through 2025. If institutions do not prioritize helping these individuals, researchers say, graduation rates will continue to fall with these students included in the analysis.
The report also points out that with a taxpayer investment of $130 billion per year and a large financial investment on the part of 20 million students, “we continue to lead many students to institutions that leave them little chance to obtain the credentials they initially sought.”
Third Way suggests that the role of the government should be to hold institutions of higher education accountable and encourage good outcomes for students through policies that support schools with proven track records. If no action is taken, it is unlikely that the sector will change from within while it’s still profiting from the status quo.
