Return of Investment (ROI) always matter whether it is education, investment, career, or startup firm. Even while looking for the graduation course after intermediate is a crucial decision for the students or parents. ROI of a degree can be calculated by placement record, average package, program fees, course duration, market risk, etc.
So, when we talk about the duration of course which is more efficient: three-year degree or four-year degree model. It is a wonderful debatable theme to discuss among ourselves. In India, from parents to children the most common choice of graduation is engineering which is a four-degree course. But how much sense we are making while taking such a decision.
Many survey and expert academician suggest that there is nothing wrong in the 3-year model. A survey by the Higher Education Quality Council of Ontario shows that 64 per cent of 850 students surveyed see four-year degrees as “having the most value.” But do the students feel the same way about the 3-year course and if not what information they do not have in order to take an equivalent decision.
Questions we should ask ourselves: If students receive the same job role after spending less money and time, how much decision will be changed? Or what if a student with a three-year degree has better chances in master degree? And what if the college owners are knowingly removing the three-year degree college silently in order to get better revenue from four-year degree courses? Why do Tier-1 companies look for a 4-year graduate than a three-year graduate?
Factors, which explains the three-year model makes senses:
- After a year three students can start earning faster and clear the loan.
- After a year three students can look for master degree and post graduate courses to enhance the skills, which will save a year of academic and tuition fees.
- A 3+2 system is a promising movement which is seeing vastly in Europe and university in Europe are adopting a Bologna Process which is 3-2-3 model (Bachelor-Master-PhD) to save time
- Students can learn more specific subjects in the 3-year model as compare to 4-year model.
Factors, which explains the three-year model does not make senses:
- Students maturation time to adapt and learn in a timely manner can be a matter of discussion for a few courses like engineering
- Time is too less for students to decide and identify a major career goal
- Many professional degree courses like engineering are designed for a three-year course
- The 3-year course is much more successful when our secondary education curriculums are in best standards.
- Three-year course is not valid for part-time and remote students
Steven Mintz professor from the University of Texas at Austin shares a number of insights with Inside Higher Ed about the pros and cons of the three-year and four-year program. For which she speaks, “Advantage of a 3-year course is that it would allow the nation’s many prominent universities to admit more students.”