Research findings indicate shifting perceptions
around the value of college, the state of student loans, and the
need for mental health and DEI discussions
Barnes & Noble Education, Inc. (NYSE: BNED), a leading
solutions provider for the education industry, today announced
findings from its annual COLLEGE 2030™ research report, Emerging
from the Pandemic: Reimagining Higher Education. This year’s report
features insights from over 2,500 students, faculty and
administrators nationwide on the state of higher education and
expectations for the decade ahead.
To understand and harness the forces that will have a profound
impact on higher education over the next eight years, the report
addresses five key themes: The value of higher education, career
preparedness, the state of student loans, support for mental health
and fostering DEI.
The Value of a College Education
Despite increased scrutiny around the rising cost of tuition and
the continued student loan crisis over the past year, one-third
(33%) of students say the value of higher education has increased.
The majority of the 33% of students who claimed to see an increase
in value were primarily community college students, graduate or
professional students, and older students (25+ years old).
The reason some believe there has been an increase in value, may
come down to class format. Nearly half of students (49%) said they
prefer a hybrid class format. However, 54% of faculty favor a fully
in-person environment. This poses a challenge for institutions to
align the two groups’ differing preferences.
“Students, especially community college and older students,
appreciate a personalized education experience and enjoy the
flexibility of a hybrid environment,” said Michael Huseby, CEO of
Barnes & Noble Education. “In the coming years, it will be
important for institutions to continue to create learning
environments that provide the best value proposition to the type of
students they serve.”
Career Preparedness
Enhancing the value of higher education directly ties to how
prepared students are for their future careers. When asked about
careered preparedness, students had a positive response: 73% of
students said they feel prepared for the industry/field they want
to pursue.
However, students are looking for more school support with
networking assistance (46%), resume help (43%) and mentors (38%),
and it will be important for institutions to offer more tangible
career prep programs.
The State of Student Loans
Though college tuition rates have remained steady throughout the
pandemic, rising inflation and the end of federal stimulus funding
will likely increase college costs, directly impacting a student’s
ability to pay.
According to this year’s survey, just under half of students
(47%) had student loans, and of that half, 53% were forced to apply
for additional loans as a direct result of the pandemic.
When asked about paying back their loans, nearly 80% of students
said they plan to begin payments after graduating - despite the
federal student loan pause on payments. Just 8% of students claim
they are not planning to start repayment, with 39% of those waiting
to pay, saying they are hoping for student loan forgiveness.
Supporting Mental Health
Student mental health has been a growing concern for many
institutions throughout the pandemic. While over half of students
(53%) and faculty (58%) say their mental health has improved since
returning to in-person or hybrid learning, 28% of students and 21%
of faculty noted their mental health has declined - indicating that
the transition from remote learning has caused challenges.
One of those challenges includes the lack of preparation for the
transition to in-person classes. As one junior at a 4-year public
university noted, “I forget what it's like to be in class with
others. The schedule changes and the routine I have been in for two
years changed, which gets difficult to get used to.”
While additional on-campus mental health support will be
important as students and faculty recover from the pandemic and
face new stresses, the majority of students and faculty are not
using mental health resources provided to them.
While 81% of students and 92% of faculty indicated they knew
their school offered mental health resources, only 20% say they
have used them.
Fostering DEI
There are opportunities for schools to proactively involve
students and faculty to seek feedback on DEI efforts and educate
them on DEI issues.
Only 35% of students indicated they had been asked for feedback
on their schools DEI efforts, while in contrast, 58% of faculty
indicated they had been asked for input.
“As we move through the next decade, it will be more important
than ever to ensure administrators are not just asking for faculty
feedback, but also listening to their students’ wants and needs,”
said Huseby. “Ensuring student needs are being met will help build
an inclusive campus and provide the mental health, career and life
services students need to succeed.”
Download the full report here.
Survey Methodology
Barnes & Noble College Insights™ surveyed college students,
faculty, and administrators nationwide. This survey was
administered online in March 2022 using the Qualtrics platform. The
analysis includes a total of 2,600 respondents from 2-year, 4-year,
public and private institutions in the U.S.
To provide the most comprehensive outlook possible, the
collected data has been augmented with our industry expertise
gathered from years of immersion in the college space. We’re
sharing our insights built from daily conversations with our
university partners and unparalleled understanding of trends and
forces shaping higher ed.
About Barnes & Noble Education
Barnes & Noble Education, Inc. (NYSE: BNED) is a leading
solutions provider for the education industry, driving
affordability, access, and achievement at hundreds of academic
institutions nationwide and ensuring millions of students are
equipped for success in the classroom and beyond. Through its
family of brands, BNED offers campus retail services and academic
solutions, a digital direct-to-student learning ecosystem,
wholesale capabilities and more. BNED is a company serving all who
work to elevate their lives through education, supporting students,
faculty, and institutions as they make tomorrow a better, more
inclusive and smarter world. For more information, visit
www.bned.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220628005207/en/
Media: Carolyn J. Brown Senior Vice President Corporate
Communications & Public Affairs (908) 991-2967
cbrown@bned.com
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