Payoffs in the Prairie: University of Illinois System Delivers Student Value

I’ve never been particularly fond of school, so it may surprise you that I’ve made a career in higher education policy. Even though I’ve not always loved the classroom—I once dropped out of college and am now figuring out if graduate school is for me—I know firsthand that a college degree can change lives. My own higher education experience was one of temporary setbacks and, eventually, light at the end of the tunnel.

It’s no secret that college is an investment, but sometimes it is hard to even imagine the return on investment (ROI) for something that can cost tens of thousands and take years to finish. For today’s students, the real kicker is that not all universities are the same, and not all returns come equally. Thankfully for me, few institutions provide a stronger ROI than my alma mater, the University of Illinois Springfield (UIS), and its University of Illinois System partners (where I had the opportunity to work after earning my degree!)

Luckily, today’s prospective college students have many resources available to inform this monumental decision. That’s where my team at Third Way—a national policy think tank—and our Higher Ed Value Metrics come in. We look at what students pay for college, and how well their institutions prepare them to earn back the cost of their tuition. Based on our data, Illinois’ public colleges and universities deliver consistently strong value for their students, providing a low-cost education with solid earnings outcomes. And the three universities in the University of Illinois System really shine. Third Way’s Price-to-Earnings Premium (PEP) measure shows that my hometown institution, UIS, prepares students to recoup their tuition costs in just under 2.5 years. An hour east at the University of Illinois Urbana-Champaign (UIUC), an average student sees a return on their investment in just 1.5 years. A trip north on the Amtrak Illini Service brings you to the University of Illinois Chicago (UIC), which sets students up to recoup their tuition in less than 1.5 years.

The good news doesn't end there. The University of Illinois System is uniquely built to support students from varied socioeconomic backgrounds across urban, suburban, and rural areas. These data are reflected in our Economic Mobility Index (EMI), which assesses an institution’s ability to serve its low-income students and provide them with a strong ROI. The coveted “Tier 1” EMI designation is reserved for the institutions that best prepare low-income students to recoup their tuition costs after graduating.

The University of Illinois System is three-for-three in earning this tier, driven by robust Pell Grant recipient enrollment of 25%, 36%, and 50% at UIUC, UIS, and UIC, respectively. These figures demonstrate the System’s commitment to providing opportunities for economic growth for the students who will benefit the most from a college degree. The U of I System is also seeing growing rates of minority student enrollment, including notable strides at UIC, which holds dual Minority-Serving Institution designations as both a Hispanic-Serving Institution (HSI) and an Asian American and Native American Pacific Islander-Serving Institution (AANAPISI). This means that UIC’s undergraduate enrollment contains at least 25% Hispanic and 10% Asian American or Native American Pacific Islander students—a representation of its commitment to serve all students and deliver on higher education’s promise of economic mobility.

So, what does this all mean? Higher education is one of the greatest tools a person has to achieve economic mobility, and the high price tag can pay off. After all, students who graduate from college earn up to $1 million more over the course of their lifetimes. Yet a healthy understanding of what you’re putting up and what you can expect in return can prepare students to make informed decisions about their future. More simply put, where you go to school matters. And if that school is part of the University of Illinois System, you probably made the right call.