First in graduation rates
Minnesota’s Private Colleges have consistently shown the highest graduation rate in the state compared to other sectors. About two-thirds of full-time, first-time students at Minnesota Private College Council (MPCC) institutions who began a program between 1997 and 2001 graduated in four years. Over this period, the percentage increased from 60.8 percent to 65.3 percent.
Although the University of Minnesota also showed increases, only about half as many students graduated in four years (27.5 percent of students who began a program in 1997 to 33.3 percent who began a program in 2001). Overall, MPCC students completed their degrees in four years at three times the rate of MnSCU students.
Institutional graduation rates serve as an important performance measure for students and families. Delays in graduation can increase student and family costs, postpone student income, incur additional fees such as tuition and course-related costs and increase student borrowing. There may be many personal and financial reasons why a student begins a college program but does not complete it. The quality and availability of student services and institutional mission and goals also are important.
Taxpayers are affected by low graduation rates as well. Providing dedicated funds to students who do not finish in a timely manner or even finish at all is inefficient. It is in the best interest of taxpayers to produce an adequate supply of skilled workers in a timely manner to ensure the continued economic development of the state. According to the Minnesota Office of Higher Education, Minnesota undergraduates received $179 million in federal Pell Grants and $156 million in state grants in 2007. So all that investment — plus a portion of what we put into state funding for public institutions — is at risk when graduation rates remain low.
A good investment
Improving participation and completion of low-income students is vital to the future of Minnesota’s economy. The total number of high school graduates will decrease over the next few years and more of them will be students of color or from low-income families. Many will qualify for need-based aid. Because of the investment taxpayers make in funding a college education, it is important to consider the number of undergraduate students who receive need-based Pell Grants or Minnesota State Grants and their chance for success. Along with a greater graduation rate, MPCC campuses also enroll a higher percentage of Pell Grant and Minnesota State Grant recipients than the University of Minnesota.
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Ensuring that college-bound students have access to the institution that best fits their needs and goals is important. Completion of their undergraduate degree in four years benefits students, families and our economy.