A graduate degree is virtually essential in the education field, a requirement for advancement or higher pay – and in some states, just to stay employed in the profession. That makes a master’s in education one of the most popular degrees – American colleges award about 150,000 master’s degrees in education a year – and about 5.6 million education jobs will require a graduate degree by 2031.
However, the cost of tuition and the typical student loan debt associated with a graduate degree in education continue to rise, reducing the degree’s value to the teachers who attain it. According to the Georgetown University Center on Education and the Workforce’s “Graduate Degrees: Risky and Unequal Paths to the Top” report, the cost of graduate education has more than tripled over the past 20 years.
The report highlights that the average cumulative graduate student debt rose to $78,000 in 2020 (inflation-adjusted to 2022 dollars). Some students borrow more than their net tuition and fees for additional expenses, such as room and board, books, supplies, and equipment. The report states the need to balance labor-market realities with greater accountability in graduate education.
Our mission aligns with the report’s recommendations to assess graduate education programs with an “in-field earnings premium test” and help education professionals and employers achieve a significant return on their graduate degree investment. (An “in-field earnings premium test” is defined as graduates with median earnings 5% or more above the median earnings of workers ages 25-34, who are not enrolled in postsecondary education and who hold bachelor’s degrees in a similar field of study in the state where the institution is located.)
We also endorse the “debt to earnings test” to decrease tuition costs and the burden of student loans. (A “debt to earnings test” is defined as median graduate deferral loan payments must not exceed 10% of program completers’ median discretionary earnings above the living wage for a single individual without children in the state where the program is located.)
ACE President and CEO Geordie Hyland said, “ACE’s endorsement of the ‘in-field earnings premium test’ is crucial for education professionals seeking real returns on their graduate degree investments. Alongside the ‘debt to earnings test,’ these steps provide a much-needed pathway to reduce student loan burdens and make advanced education more accessible to educators.”
We endorse the report’s recommendation to implement a regulatory regime that advances transparency, limits borrowing to programs and gives sufficient value to graduates.
According to the National Council on Teacher Quality, approximately 90% of large school districts in the U.S. give pay increases or bonuses to teachers with master’s degrees, especially for teachers with more experience.
We offer high-quality and affordable accredited online graduate degrees with an 85% graduation rate – 11,000 students and 44,000 alumni – placing us third in the U.S. for the most master’s degrees in education. Our virtual campus lets students complete their master’s degrees in the comfort of their homes, with convenient start dates that work with their schedules. We also provide free tutoring and student support services 24/7.
Since 2016, we have not increased tuition on our affordable programs. Our dedicated team evaluates credit for prior learning (CPL) and extensive professional development, which contains partnerships and assists students in decreasing the time and cost of their program. We do not participate in Title IV funding – even though we are eligible – to keep our operational costs low and help students save money. We are very proud that 86% of our students graduate with no debt and that Lightcast, a 3rd party market research firm, calculated a return of $19.20 in increased future earnings for every dollar that one of our students invests in their education at ACE.
We are accredited by the Higher Learning Commission (HLC) and have online programs built by teachers. For more information, please visit our website and get your online education degree today.
