Research purpose. The pursuit of higher education has, until recently, been viewed as a worthwhile pursuit. However, factors including rising tuition costs, graduate job-readiness, and the associated debt have diminished the perceived value of college degrees at all levels. This research seeks to explore both academic literature and popular publication sources to gain a deeper understanding of the value proposition of higher education in the dynamic 21st century.
Design/Methodology/Approach. An aggregative qualitative synthesis of the selected academic and popular sources is examined for emergent themes. Drawing on theory from the disciplines of economics, marketing, education and humanities, a meta-matrix is then constructed from the content analysis, with the goal to not only more effectively describe the variant perceptions of value but also to reconcile and synthesizes these views where possible.
Findings. The perceived value of a contemporary higher education has been challenged, requiring post-secondary institutions to find new ways to demonstrate the benefits that accompany an advanced degree. Through a more explicit understanding of the dichotomies that exist between the various perceptions of value, as well as the emergence of thematic agreements, a more holistic depiction of higher education’s value proposition may be created.
Originality/Value/Practical implications. The creation of a framework that allows post-secondary institutions to gain a more explicit understanding of the perceptions of value held both within and outside the academy will allow colleges and universities to respond more directly to this critical challenge and more accurately demonstrate both the short-term and life-long value of a college degree.
