How much value does a degree add? New study shows consistent return on investment 

Graduate enrollment has remained flat or slightly declined amid growing uncertainty about the value of advanced degrees. According to the National Student Clearinghouse Research Center, graduate enrollment dipped 1.6% in the fall of 2026, while undergraduate enrollment grew by only 0.6%. Prospective graduate students are being more selective. They are crunching numbers and scrutinizing available programs through the lens of tuition, debt, opportunity cost, and salary outcomes. Their decisions focus on fundamental questions: Will this be worth my time and money? Will AI render my education obsolete? Institutional leaders know that the value of a degree is more important to students than ever and are exploring new ways to attract and retain qualified students.

For the fourth year in a row, we commissioned a study by market research and polling leader Ipsos to better understand the experiences and outcomes of students who graduate from the programs we support. Ipsos surveyed 8,565 graduates of Risepoint-supported online programs, 99% of whom were working full— or part-time while earning their degrees.

Their responses gave us valuable insights into how working adults assess the financial and professional returns of online education, with important implications for those institutions seeking to attract adult learners. What kind of financial gains are graduates realizing? Are their degrees advancing their careers? And to what extent do these students need financial support in order to reach their academic goals?

An overwhelming 85% of survey respondents affirmed that their degrees were worth the investment. For institutional leaders, that optimistic data point is validating, but the greater value lies in understanding the why. These insights into the return on investment (ROI) of a degree offer an opportunity for leaders to develop and market programs that deliver clear and meaningful financial value to students. Here, we explore a few of them.

Graduates see a clear connection between earning degrees and earning potential

Higher earning potential is a leading motivation for those pursuing an online degree, cited as a top factor by 34% of respondents. For survey respondents, the investment is clearly paying off, both in the near term and over time. Graduates surveyed around one year after completing their programs reported salaries averaging 18% higher than before enrollment. Those surveyed three years after graduation reported an average increase of 33%.

These gains extend across fields of study, with business graduates surveyed around one year after graduation reporting salaries averaging 19% higher than prior to enrollment, rising to 34% for those surveyed three years later. Nursing graduates in the three-year cohort reported an average increase of 35%. At a time when working Americans are feeling pressure at the supermarket, the gas pump, and beyond, these numbers make a compelling case for high-quality and flexible graduate education. Graduates put it in their own words:

Affordable tuition with short payback period: Graduates see a quick return on investment

Affordability remains the leading factor in graduates’ program choice, selected by 58% of respondents as a top reason for choosing a university. Program tuition among Risepoint partner universities averaged around $22,000. In fact, some 52% of survey respondents said they were able to complete their degrees without taking out loans. For recent graduates, reported salary gains were sufficient to offset the average tuition investment in just 1.8 years.

“I feel that the program was affordable and the knowledge gained was beneficial
for my new role in leadership.”

Healthcare program graduate, Radford University

What this means for university leaders

Federal policy is increasingly emphasizing career-focused education with measurable outcomes. The recent expansion of Pell Grants to short-term workforce training programs reflects this shift, even as traditional graduate degrees remain largely outside their scope.

There is a clear takeaway for institutional leaders today: Prospective online students are looking for more than just degrees. They want a measurable return on their investment. In short, the ability to advance their careers after graduation is a major factor in their decision-making process. High-quality, affordable online programs — the kind that give students not just knowledge, but verifiable skills — are well-placed to stand out in an increasingly competitive market.

Yet delivering value is only half of the brief. Institutions must also be prepared to prove and market that value. By tracking graduates’ outcomes and communicating those numerical results transparently, institutions can give prospective students the evidence they need to answer one of the most important questions in higher education — “Is this worth my time and money?” — with a confident and evidence-backed yes.