As Higher Education Costs Soar and Trust Declines, CED Offers Recommendations to Rethink Postsecondary Learning

NEW YORK, Aug. 13, 2024 /PRNewswire/ -- The Committee for Economic Development (CED), the public policy center of The Conference Board, has issued a new Solutions Brief, Postsecondary Pathways for the Workforce of Tomorrow. It explores the current state of higher education and recommends strategies to strengthen postsecondary education options to better meet the future needs of both students and employers.

The Solutions Brief—the latest in CED's Sustaining Capitalism series—comes as the landscape of higher education is changing. Public trust in higher education has reached a historic low, with rising student debt undermining the return on investment many students expect from their college degree.

As the Solutions Brief emphasizes, new thinking is needed to meet the demands of tomorrow's workforce and society, which will require a larger percentage of the workforce to obtain some form of postsecondary education or training. The future economy necessitates a postsecondary education system that delivers reliable learning experiences and outcomes for students and employers. This includes an expansion to provide more learning and training alternatives.

"Postsecondary education is critical for future workforce development and the vitality of the country, but a lack of access to quality programs, training opportunities, and affordable options risk leaving some people behind. To reduce social and economic disparities in opportunity and prepare all students for the future workforce, society needs alternatives to the traditional college degree that are not only more affordable, but also meet the needs of employers and the workplace," said Cindy Cisneros, Vice President, Education Programs at CED.

Key Recommendations
Policymakers and key stakeholders must address affordability, provide opportunities to pursue high-quality education and training programs, and align programs to meet industry needs, while also accounting for diversity in learning preferences, lifestyles, and backgrounds. CED's recommendations include:

Preserve the value of postsecondary learning.

• To sustain the return on investment of higher education, postsecondary education should be more affordable and reliably lead to economic mobility.
• Schools must increase transparency around the net price of degree programs and expected outcomes upon completion.
• Leaders and policymakers should also be proactive about protecting students from an education that does not provide a return on this investment, especially in the event of school closures.

Evolve with student and workforce needs.

• Learning institutions should partner with business leaders and industry groups to expand postsecondary options that align with industry needs and trends.
• Policymakers and stakeholders should ensure that students are aware of their educational options, their eligibility for those options, and what steps are needed to pursue a specific education or training pathway. Postsecondary options should also be affordable with an adequate supply of quality opportunities.

Start career preparation early.

• Expand equitable access to career and postsecondary on-ramps from high school for students across different geographies and socio-economic statuses. This includes the availability of career counseling for students, increasing internship and mentorship programs, addressing the cost, simplifying the process of applying for student financial aid, and guaranteeing the relevance of education programs to ensure workforce readiness and success.
• Integrate career exposure and early career advising throughout K-12 education, demonstrating the possibilities and helping to support decision-making for students. If students are provided with information early to gauge their interests and pathways to jobs, they can determine how or if to seek additional postsecondary education after high school.

About The Conference Board
The Conference Board is the member-driven think tank that delivers Trusted Insights for What's Ahead.™ Founded in 1916, we are a non-partisan, not-for-profit entity holding 501(c)(3) tax-exempt status in the United States. ConferenceBoard.org

The Committee for Economic Development (CED) is the public policy center of The Conference Board. The nonprofit, nonpartisan, business-led organization delivers well-researched analysis and reasoned solutions in the nation's interest. CED Trustees are chief executive officers and key executives of leading US companies who bring their unique experience to address today's pressing policy issues. Collectively, they represent 30+ industries and over 4 million employees. ConferenceBoard.org/us/Committee-Economic-Development

SOURCE Committee for Economic Development of The Conference Board (CED)