Executive Guide to Certificate Market Risks and Opportunities
Blueprint for Growth
An unprecedented economic downturn has renewed urgency for colleges and universities to provide reskilling opportunities to displaced workers. As a result, college and university leaders increasingly are asking whether launching new and innovative certificates is a worthy investment. All too often, however, certificates have not delivered on enrollment expectations. Yet certificates—and understanding market trends—still can help higher ed institutions be more adaptable in the face of volatility.
96% of recession-era growth among for-credit certificates came from pre-baccalaureate programs.
This report details the higher ed market trends that make it difficult for certificate enrollments to take off and profiles six successful certificate programs designed specifically to reach underserved markets, advance regional partnerships, and to continually test evolving market demand.
Sizing the certificate enrollment opportunity
The graduate certificate market is smaller and more competitive than most colleges and universities anticipated a decade ago. In fact, colleges and universities that have achieved meaningful growth in graduate certificate programs are the exception, not the rule. The median number of conferrals in these programs is four, even after removing programs with zero enrollments from the analysis.
To help higher ed leaders understand the options and opportunities for success, EAB sized the certificate market and identified market trends that have contributed to certificates’ disappointing enrollment and revenue results in the past.
Launching a successful certificate program in an unpredictable market
Despite the challenge of growing certificates, it’s still possible to launch a successful program. Increasingly, however, the strategic value of certificates extends beyond enrolling more adult learners or generating new-in-kind revenue. In a time when higher education is more unpredictable than ever, certificates can help institutions be more adaptable in the face of volatility.
This section highlights six ways certificates can help colleges and universities improve access and support of underserved student markets; sustain mission-critical programs and partnerships; and lower barriers to program innovation.
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