Debunking 10 Persistent Myths About the Adult Student Market

The allure of the adult student marketplace, particularly online students, continues. However, in many cases, colleges and universities enter this market with a false or naïve set of expectations. Many suffer from a Field of Dreams “build it and they will come” mentality. This is often further complicated by unrealistic expectations around revenue generation.
 
We’re here to help debunk some persistent myths around the adult student market so you may compete in this market confidently and better serve adult students.

1. Myth: There is plenty of room in the adult student market.
   • Reality: In fact, the adult market is overcrowded.
     There are too many colleges trying to serve a relatively flat, and even
     declining, number of adult students. This is especially true in the
     online space.
2. Myth: The adult student market is high-margin.
   • Reality: Most adult programs have razor-thin
     margins and these margins continue to narrow. A glut of offerings has
     driven prices down even as the costs to offer adult programs increases.
3. Myth: It is relatively easy to market to adult students.
   • Reality: Because there is no comprehensive “list”
     of prospective adult students, most colleges must create their own
     prospect pools using a wide-ranging marketing strategy that includes
     digital advertising, special events, re-targeting campaigns, and other
     forms of demand generation. This upfront and ongoing investment in
     marketing to adult students must not be overlooked.
4. Myth: Adult students are attracted to high quality programs.
   • Reality: While quality is always valued,
     convenience and cost are often of equal or greater concern. This is
     especially true for adult students who are seeking a commodity buy
     rather than a brand buy. Solid rule of thumb: The best price for your
     programs will likely be at the top of the bottom third of all your
     competitors.
5. Myth: Because we are a private, we can charge more for our online programs.
   • Reality:The idea that private colleges are often of
     higher quality than public colleges is largely untrue. Many two- and
     four-year publics offer an outstanding educational experience. Private
     institutions that insist on pricing their programs above those of their
     public school competitors because they believe their programs are of
     higher quality will meet significant marketplace resistance.
6. Myth: We don’t need to worry so much about cost because we know that in an improved economy employers are reimbursing students.
   • Reality: While the economy has improved over the
     past five years and companies are again offering tuition reimbursement,
     there are a couple of caveats. First, tuition reimbursement tends to
     focus on graduate degrees and less on degree completion. Second, tech
     companies are more likely to reimburse for tuition than service
     companies. Finally, tuition reimbursement tends to be a benefit for
     full-time rather than part-time employees. Your best bet is to do an
     analysis for your marketplace to determine what employers are
     reimbursing for what types of programs. Don’t assume. Check it out.
7. Myth: Adult students persist.
   • Reality: Not only are adults less likely to persist
     than traditional-age students, those that do persist often do so on
     their own They are more likely to stop in and stop out as the vagaries
     of life intervene with college attendance.
8. Myth: Adult students learn the same way as traditional-age students.
   • Reality: Adult students are more mature, they have
     more life experience, and they tend to be more practical with clear
     expectations on outcomes. The result is that they want an educational
     experience that is seasoned with real-life application. This means
     lectures and presentations, and discussions and assignments that they
     see are of clear value in helping them meet their goals.
9. Myth: It’s all about the educational experience.
   • Reality: While the educational experience is
     pivotal, today’s adult students are increasingly interested in certain
     types of extra- and co-curricular offerings. They are involved in
     internships and co-ops. They are networking. They are meeting with
     career planners. They are seeking and creating opportunities to share
     both life and work experience.
10. Myth: Recruiting adult students will save your college.
    • Reality: Some colleges and universities have
      enjoyed significant economic successes in the adult market. However,
      these colleges tend to fall into one of two categories. Either they were
      early entrants to this market, or they were willing to make a very
      significant investment to enter the market.

 
Summary statement: Colleges and universities that hope to do well in the adult market space must recognize a couple of realities.

• The adult market is highly competitive and will demand a significant
  investment for entry. This investment will involve both hiring highly
  skilled marketers, and giving those marketers the dollars and resources
  they need to succeed.
• Institutions must build their adult student initiative around a
  carefully designed set of high demand, high margin programs that lead to
  high(er) paying jobs.
• Institutions must offer their programs at a price point lower than
  their competitors. In addition, they must be willing to offer gift aid
  to this student segment.