All public and private institutions of higher education must make their best effort to contact their graduated alumni 1, 3, 5, and 10 years after graduation and report on the following statistics, which shall be made publicly available:
- % of graduates contacted successfully
- Total
- By major
- % of graduates working in a field consistent with their major
- Total
- By major
- Average number of months since graduation spent unemployed
- Total
- By major
- Reasons for unemployment grouped by common causes
- by choice (e.g., stay-at-home parent)
- due to injury or prolonged illness
- inability to secure employment (cite reasons given why you were turned down, e.g., lack of experience, lack of skill, etc.)
- Average numer of months since graduation spent underemployed (include unpaid or low-pay internships started after graduation and work outside your field)
- Total
- By major
- Average annual income (current, i.e., at 1, 3, 5, and 10 year marks)
- Total
- By major (working in a field consistent with major)
- Average of others (not working in a field consistent with major)
- Average alumni rating on a 1-10 scale reflecting how useful their time as a student (not the degree or certification itself) has been in their actual work since graduation
- Total
- By major (working in a field consistent with major)
- Average of others (not working in a field consistent with major)
By requiring such reporting, students will be able to see which institutions and more importantly, which programs and majors have a track record of success and it will naturally encourage institutions of higher education to prioritize their students’ post-graduation employability.
Possible “teeth” to ensure compliance:
- Schools who do not comply are open to law suits from their graduates who are unable to secure employment in their field up to the total balance of their student loans. Such law suits shall be on the grounds of Deceptive Marketing, as the students attended the school with the understanding that it would prepare them to work in a field consistent with their major.
To assist with the gathering of this data, a corporate tax break for companies who report the university and major of applicants who they hire or turn away with reasons why they were hired or turned away would help keep the data honest.