Meeting the needs of an evolving workforce, International Career Institute eclipses the antiquated Ivy League

The job market is changing as fast as technology is and the International Career Institute (ICI), among other educational organizations, is changing how Americans get their education.

There are concerns among college board trustees about the future of higher education. According to Gallup, enrollment in higher ed is declining and private universities are expected to close at higher rates every year. The main concern seems to be affordability.

But more than affordability is the value of the degree earned post-graduation. Gallup reports that “graduates with more student loan debt were less likely than other graduates to believe their degree was worth the cost.”

Is University still the best path to a career?

The basic formula for getting a good job used to be, attend a good college + graduate with top marks = land your dream job. But that may not hold true in today’s job market. Graduates are unlikely to land the dream job without relevant work experience. And some turn to whatever job is available, even if it doesn’t utilize their degree.

CNBC reported in 2018 that graduates who took unskilled jobs were more likely to still be working those jobs in five years’ time. When even entry-level positions require some experience, grads who can’t break in for lack of experience end up taking the jobs they can get. And staying there.

Some universities are incorporating internships into their graduation requirements to get ahead of this problem, but not all universities are on board.

Rather, universities are focusing on cutting the cost of tuition. Purdue University has frozen tuition rates, according to Gallup, and others have kept annual tuition hikes modest.

But even frozen tuition and conservative increases at top universities like Purdue and Yale are likely to keep attendance inaccessible for most. With the average student loan burden hitting $30,000, the cost alone of a traditional education is concerning.

ICI does things a little differently. Students enroll for courses they want to take within their chosen program. The cost includes all the materials needed to complete the course. There are no application fees, lab fees, housing fees, books to buy or administration fees to pay. And there are two payment options: Upfront payment with a 10% discount; or payments over 39 weeks for the full amount.

Even attending one of Purdue’s online courses (and they have a broad offering), students are still expected to adhere to the timeline set out by their course instructor. And attend scheduled online video lectures. And turn in assignments by scheduled deadlines.

Purdue has made strides in the right direction and even garnered accolades for their online programs. But there’s plenty more room for innovation. For example, ICI offers their courses without time constraints. Students learn and turn in coursework at their own pace. And if they need help, ICI offers access to tutors as part of their service. No extra fees. And it’s all online.

Other than a requirement that programs be completed within three years, ICI lets their students take the lead and tailor their learning to fit their lives, not the other way around.

A changing economy

The other concern when it comes to higher education is whether it’s preparing graduates for the job economy we have now. Gone are the days of finding a company you like and building your career based around loyalty to that organization. Today’s workforce is happy to move on if they think the grass is greener elsewhere, and a third of the workforce has ditched the traditional employee-employer relationship completely.

According to McKinsey & Company, 20% to 30% of workers do some sort of gig work. Independent contractors, freelancers, Uber and Lyft drivers and others engaged in project-based and contract work, make up a growing chunk of the world’s economy.

For this part of the workforce, continuing education can provide a boost to their marketability with clients, but the traditional school model isn’t really free-agent friendly. According to ICI FAQs:

“Most classroom-based educators require a minimum class attendance rate of 80% in order for you to pass the course. As there are no classes to attend when you study via correspondence, you have the flexibility to go on holiday, study while you earn, start a family or simply manage your time more effectively around your commitments.”

While ICI certainly isn’t the first organization to jump on the online learning bandwagon, their purely distance-learning model stands out for professionals who need to work and learn at the same time.

At a four-year university, even if a student completes their degree online, there still may be labs and other on-campus requirements for certain courses. ICI has no on-campus requirement for any course, which makes their courses accessible no matter where you live. With this model, practical experience and education can work in tandem to help a person build their career.

The closest traditional institutions come is professional development courses. Students enroll in the course, pay the course fee, purchase course materials and then meet assignment deadlines and attend video conference lectures. These courses can expensive and rigorous.

Purdue’s Project Management Essentials course is completed over 8 weeks and costs nearly $2,000. Along with the 35 hours of project experience students complete, they’re expected to spend an average 7 hours on coursework per week.

ICIs project management course costs $1,599 and has no set completion deadline. Though the average student takes 24 weeks to complete the course. And all of the course materials are included in that figure.

The future of higher education is evolving to meet the needs of a workforce that requires a flexible option that fits into their lifestyles. Factors such as cost, time commitment and the resources made available, are all considerations when choosing how to pursue continuing education. Happily, higher education seems to be adapting to meet the needs of today’s students rather than expecting them to adapt to meet outdated requirements for accessible education.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes.