Is college a good investment for older students?

Going to college as an adult learner can be daunting, but completing a first or second bachelor’s degree later in life is, in most cases, worth it. However, as with college at any age, the economic benefits of your degree will depend on the school you choose. (That’s our modus operandi and reason for being at Degreechoices.)

We’ll use the term adult learner to refer to undergraduate students aged 24 and over. To analyze the economic benefits of college for adult learners, and to determine which schools are best for adult learners, we’ll focus on the 306 4-year schools in our database with an average student age of 24 and over. We’ll refer to those schools as non-traditional colleges.

What do adult learners need from their college?

Compared to “traditionally aged” college students who are in most cases fresh out of high school, adult learners are more likely to be:

• married
• financially independent
• part-time (less than 4 classes a semester)
• returning (after an enrolment break or for a second degree)

In our school analysis, we’ll refer to these as adult student features and work under the assumption that schools with many adult student features offer additional support and convenience to adult learners (and hence attract many older students).

Online programs and open admissions attract adult learners

We can assume that adult learners require more flexibility from their college program in order to accommodate additional personal and professional responsibilities.

Online degrees or hybrid learning options allow adult learners to fit their studies around their work and family life. Open admissions colleges accept anyone who applies, which is helpful for adult learners who don’t have the time or inclination to go through a lengthy college application process.

By analyzing non-traditional colleges according to their learning methods and admission policies, we can identify the best options for adult learners based on these averages:

• percentages of adult student features
• graduation rates
• earnings 3 years after graduation
• cost
• economic score

Both online and on-campus programs are good investments for adult learners

The average graduate earnings, graduation rates, and economic scores of online and on-campus colleges are very similar.

Colleges with online programs are cheaper

Online and hybrid programs cost around $12,000 less on average despite similar earning statistics.

Online colleges have more adult student features

Online or hybrid learning schools have significantly higher percentages of all adult student features compared to on-campus schools, indicating that adult learners gravitate towards online programs.

The average age at online non-traditional schools is higher (32 versus 27), with 82% of students over the age of 25, compared to just 45% at on-campus non-traditional colleges. Therefore, doing an online program as an adult learner may mean you are more likely to study with people in similar life circumstances.

On-campus learning might be a good choice though if you want this type of experience as an adult learner and have the time to travel to college and sit in live lectures.

Graduates from open admissions colleges pay less tuition but have lower salaries

Only 66 colleges for adult students have open admissions and you’re more likely to find private colleges with open enrollment policies.

We can also see from their higher percentages of adult student features that open admissions colleges are a popular choice for adult learners:

Similar to schools with online programs, colleges with open enrollment are more likely to have adult learners who are older, married, and financially independent. This makes sense if you’re spending most of your time either at work or raising a family and don’t want to spend time working on a full college application.

Colleges with admission requirements are a better investment

Despite open admissions colleges being more popular among adult learners, schools with admissions requirements are generally a better investment. This is because their graduates earn an average of $6,000 more. Colleges with enrollment requirements also successfully graduate about 9% more students than open admissions schools.

Open admissions colleges still have their benefits

In addition to saving time on testing and application requirements, you’re also more likely find students who are similar to you at these open admissions schools, suggesting they may offer more specific support structures for adult learners. Finally, open admissions schools are, on average, $15,194 cheaper.

Open admissions are the best option for online learners

Of the 2 types of online colleges – open admissions and those with admission requirements – open admissions provide the better return on investment.

This makes them the best choice for adult students who are specifically looking for programs with online or hybrid learning options. However, these schools also represent just 5% of the non-traditional college landscape, so there may be fewer programs to choose from. Graduation rates are also somewhat lower at open admissions online colleges.

Colleges with admission requirements are best for adult students who want to study on campus

Colleges with admission requirements are the best option for adult students who want to do on-campus programs. This is because their graduates earn higher wages on average, giving them a better return on their investment even though tuition is more expensive.

The best colleges for adult students

If you’re an older student with more family and work responsibilities, you could consider the following top 3 online colleges with open admissions:

1. Grantham University, Kansas, private for-profit, ES: 0.88
2. Columbia Southern University, Alabama, private for-profit, ES: 0.89
3. Franklin University, Ohio, private not-for-profit, ES: 1.14

However, one of these top 3 schools with on-campus programs and admission requirements might be a good fit if you’re an adult learner who has the time to submit a full application and attend in person:

1. CUNY Lehman College, New York, public, ES: 0.43
2. California State University – Dominguez Hills, California, public, ES: 0.89
3. California State University – East Bay, California, public, ES: 1.48

Final thoughts

Overall, it is worth it for adult students and adult learners to go to college. If you’re looking for online or hybrid learning programs, colleges with open admissions are the best investment. These schools are also more likely to have adult students with work and family responsibilities which means more students who are similar to you and likely better support for adult learners. However, if you’re looking to attend in person, colleges with admission requirements offer higher graduate salaries.

Our college rankings can help you find schools that offer your preferred learning method and the best return on your educational investment. You can also check out our financial aid pages for information on how you can get money for college as an adult learner.