Despite the acceptance of alternative credentials, a significant number of institutions do not yet view them as a strategic priority. Institutions with alternative credentials in their strategic plans, however, benefit from greater support and resources for program development. Business models for alternative credentials vary widely, and organizations with longer experience in alternative credentials show more pricing variability than newer entrants. These insights highlight the dynamic and evolving nature of alternative credentials in higher education.
What's in the Report:
This research provides a comprehensive exploration of the alternative credentials landscape within higher education, shedding light on the programmatic and business models that sustain them. Findings are based on the results of a survey UPCEA conducted among its membership in the fall of 2023, as well as focus groups featuring key titles such as Director of Operations Online Continuing and Professional Education, Dean of Extension, and Executive Director for School of Continuing and Professional Studies.
Insights gleaned from the focus group sessions underscored the centralization and expansion of microcredential offerings, the vital role of employer engagement, challenges in securing faculty buy-in, and the need for strategic planning in microcredential development. Findings also emphasized the significance of budget allocation and funding, along with the diverse business models currently in practice across institutions.
What The Research Means:
“The study found that while there is increased momentum and support from leadership, many institutions are struggling to establish a consistent and scalable process for developing and pricing alternative credential programs,” said Bruce Etter, Senior Director of Research & Consulting at UPCEA. “Furthermore, nearly three-quarters (71%) of survey respondents didn’t know the gross revenue generated by alternative credentials at their institution. While these data points present significant challenges, institutions can advance these programs by engaging early and often with employers, improving metric tracking and sharing, and isolating the most effective business models for their unique structure.”
About UPCEA
UPCEA is the online and professional education association. Our members are continuously reinventing higher education, positively impacting millions of lives. We proudly lead and support them through cutting edge research, professional development, networking and mentorship, conferences and seminars, and stakeholder advocacy. Our collaborative, entrepreneurial community brings together decision makers and influencers in education, industry, research, and policy interested in improving educational access and outcomes.
© 2024 UPCEA