2018 Almanac - Page 12



STATEWIDE
60X30TX
60X30TX
NATIONAL
INTRODUC TION
2017
TEXAS
PUBLIC HIGHER EDUCATION
ALMANAC
60x30TX
Marketable Skills
Marketable skills are those valued by employers that can be applied in a variety of work settings, including interpersonal,
cognitive, and applied skills. Students acquire these skills through curricular, co-curricular, and extracurricular activities.
All programs develop skills of value in the marketplace. Students who can articulate their marketable skills are better
positioned to get a suitable job. In a 2012 national study by the University of California Los Angeles Higher Education
Research Institute, 88 percent of surveyed students identified “getting a better job” as the most important reason for
attending college. The 60x30TX plan requires institutions to formally identify those skills for each of its degree programs by 2030
so that students are aware of and can communicate those skills to future employers. This goal calls for every institution in Texas to
articulate the identified skills to students.
GOAL By 2030, all graduates from Texas public
institutions of higher education will have completed
programs with identified marketable skills.
2015
2020
2025
2030
Institutions
will regularly
update
marketable
skills for each of their
programs, and by 2030,
all graduates will have
completed programs with
identified marketable
skills.
By 2020,
institutions will
have created and
implemented
a process to identify and
regularly update marketable
skills for each of their
programs, in collaboration
with business and other
stakeholders.
Percentage of Students Working or
Enrolled One Year After Graduation
2030 Goal
80%
79%
78%
78.9%
78.8%
Baseline
2015
80%
77%
76%
75%
74%
73%
72%
71%
70%
See Sources of Data (p. 90) for baseline benchmark years.
As a state, Texas has an opportunity to balance student loan debt and improve how higher education is financed to reduce
financial barriers that students and families encounter when pursuing any level of higher education. One way to focus
on student loan debt is to set the statewide goal of maintaining debt load, as measured against student earning power at
graduation. 60x30TX sets the goal to keep this ratio at 60 percent for students with debt who graduate in the state. There
are several facets to this goal: (1) the role of the state, (2) the role of institutions, and (3) the role of students. While there
will be variation by sector and by student, all undergraduates with student loan debt who complete a credential from a Texas public
two- and/or four-year institution are included in the 60 percent calculation. In 2015, half of undergraduate students completed their
degrees and certificates with student loan debt. This goal also includes a target to maintain this percentage, so that no more than half
of undergraduates complete their credentials with student loan debt.
GOAL By 2030, undergraduate student loan debt
will not exceed 60 percent of first-year wage for
graduates of Texas public institutions.*
Student Loan Debt As a Percentage of First-Year Wages by
Degree, 2014**
80%
70%
60%
7,000
6,000
2030 Goal
60%
71.8%
or below
2014
statewide
percentage
50%
40%
30%
APPENDIX
Distribution of Undergraduate Student Loan
Debt As a Percentage of First-Year Wages for
Graduates of Texas Public Institutions
60%
41.4%
33.1%
20%
Number of graduates
PROFILES: 2-YEAR
PROFILES: 4-YEAR
COMPARISONS
Student Debt
4,000
3,000
1,000
0
Certificate
Associate
Baseline:
60%
2,000
10%
0%
60x30TX goal is to maintain
undergraduate student loan
debt at or below 60% of wages.
5,000
2014
Median:
60%
Lower debt as
a percentage
of wage
10%
30%
50%
Higher debt as a
percentage of wage
70%
90% 110% 130% 150% 170% 190%
Bachelor’s
*60x30TX Student Debt goal of 60% of first-year wage represents a statewide goal and is not intended to be the goal for every student, institution, or sector. Debt as a percentage
of first-year wage generally increases with number of credit hours required for credential. Debt to first-year wage is calculated as a median of all undergraduate students with
debt and first-year wages. It is not an average.
**2016 Texas Public Higher Education Almanac presented year of wages. Now and forward, year of graduation will be used.
See Sources of Data (p. 90) for baseline benchmark years.
10
TEXAS HIGHER EDUCATION COORDINATING BOARD

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