Tapping an Underserved Market
Degree-completion programs provide opportunities for drop-outs.
Robin Capehart
Sep 29
We knew there was a great number of students who left our college with more than sixty hours. We believed that financial pressures, family responsibilities and attractive job opportunities would lead the list of reasons students didn’t return.
We were right.
We conducted a study and discovered that in the preceding eight years, more than 500 students had departed from West Liberty University having completed over half of their degree requirements. A closer look revealed that within the last four years, 80 students had withdrawn with more than 90% of their degree programs completed.
As such, these students created an attractive market and, in response, we established a School of Professional Studies and introduced our inaugural degree-completion program – the Bachelor of Leadership and Development (BOLD).
The BOLD initiative was specifically designed to re-engage these students, providing an expedited and adaptable course schedule, reduced tuition fees, and a comprehensive skills enhancement curriculum pertinent to a wide array of careers. We actively reached out to those individuals who were 25 years of age or older and had accumulated in excess of 60 and 90 credit hours, as stipulated by the program’s prerequisites.
Our strategy proved to be highly effective. Within a mere two years, the School of Professional Studies produced our second largest group of graduating students.
The educational landscape in the United States is marked by an often-overlooked demographic – those who have started but not completed their college education. While this group is often viewed as a collective of ‘dropouts,’ a closer examination reveals that many have completed substantial portions of their academic requirements, with some having achieved as much as 90%, 75%, or 50% of their credit hours. This presents a significantly untapped market for colleges and universities, one warranting exploration and strategic initiatives for engagement.
The National Student Clearinghouse Research Center in a report titled “Some College, No Degree” showed that there are 36 million adults in the U.S who have some college experience but no degree. Among these, a substantial percentage have completed significant portions of their degree requirements. For example, it can be estimated that around 10% have completed 90% of necessary credit hours, equating to approximately 3.6 million individuals. Similarly, around 20% and 30% have achieved 75% and 50% respectively, amounting to 7.2 million and 10.8 million individuals. These figures, while estimates, underscore the vast potential market for colleges to re-engage individuals who have not completed their degrees.
As mentioned, there are various reasons why students fail to complete their degrees, including financial constraints, personal circumstances, or a perceived lack of value from their degree. However, for colleges, these are not insurmountable barriers but opportunities for innovative solutions. Offering flexible scheduling, online courses, financial aid packages, or credit for work experience could all be incentives for these individuals to consider re-enrollment.
This demographic’s value is underscored by the economic benefits of degree completion. The Georgetown University Center on Education and the Workforce states that individuals with a bachelor’s degree earn, on average, 84% more over their lifetime than those with just a high school diploma. Furthermore, the U.S. Bureau of Labor Statistics reports that the unemployment rate for those with a bachelor’s degree is significantly lower than for those without. Hence, colleges have a dual incentive to engage this demographic – not only to increase their enrollment and revenue but also to contribute to workforce development and economic stability.
However, it’s critical for colleges and universities to approach this potential market with tailored strategies. A one-size-fits-all approach is unlikely to be successful given the diverse circumstances and needs of this demographic. For example, those who have completed 90% of their credit hours may need minimal academic support but may require financial assistance to cross the finish line. In contrast, those who have completed 50% may require more comprehensive support, including academic, financial, and career guidance.
As such, the potential market consisting of individuals who have completed substantial portions of their college education but have yet to graduate represents a significant opportunity for colleges and universities. The sheer numbers, coupled with the potential economic benefits of degree completion, make this an attractive market. However, successfully tapping into this market will require colleges to be innovative, flexible, and responsive to the unique needs of these potential students. By doing so, they can not only increase their enrollment and revenue but also contribute meaningfully to individual prosperity and the broader economy.
Robin Capehart served as the president of two universities over a 13-year period where his institutions experienced historic enrollment increases and record fundraising. Today, he serves as a Senior Consultant for Collegiate Consulting, Atlanta, GA .