Reflections on Golden Returns: Redefining Value in Postsecondary Education

By Amanda DeLaRosa, Director of Program and Strategy, College Futures Foundation

In August, we launched Golden Returns: A Regional Look at the ROI of California’s Community and Career Colleges. This research continues College Futures Foundation’s Value Initiative, which is rooted in a belief that postsecondary education can deliver more value, for more learners, in more places. To live up to that promise, we need to understand where value exists today—and where opportunities for improvement lie.

The launch generated the momentum we intended. It crashed our website from overwhelming interest, ignited spirited debate among researchers and institutional leaders, drew attention from national trade publications, regional outlets, campus media and even Reddit. Beyond the shiny media hits, a few themes stand out as I reflect on why this work matters:

ROI as a Lens, Not the Destination

As Eloy reminded us during the webinar: At College Futures, we believe value should be defined the way learners themselves define it. And today, their questions are practical and urgent: How much will this cost me? How quickly can I finish? Will this credential lead to a job that allows me to support my family? That’s the lens our learners are using when they choose to trust us with their time and money—and that’s the standard we choose to measure against.

That said, ROI is both an important and imperfect measure of value. We are committed to striking partnerships that improve and add nuance to our measurement of value. Even with its limitations, a focus on ROI pushes us to ask a new set of questions if we are truly committed to being learner-centered:

• What’s distinct in a strategy that prioritizes learners’ economic mobility rather than just their access or completion?
• How do we align policy incentives and accountability measures to send clearer signals to both students and institutions?
• How is value experienced differently depending on race, age, region, or credential type?

As Mac Powell, President of ACCJC reflected:

“Metrics like these aren’t a sole indicator of quality—they’re an opportunity to ask questions, to look deeper, and to learn from each other.”

The Urgency of Solutions 

ROI measures give us a map, but we need a sharper understanding of the interventions that create durable and equitable economic mobility. Public Agenda’s recent work with us points in this direction—but there is more to build.

Meanwhile, institutions are being asked to do more with less, policy leaders are navigating shrinking budgets and competing priorities, and the economy is evolving at lightning speed. As our Entrepreneur-in-Residence Maria Anguiano has written, this moment demands new constructs for learning that recognize multiple pathways and broader validations of skills.

And while we are building out the solution set, let’s also build our state’s data infrastructure to track economic mobility outcomes longitudinally. California’s cradle-to-career data system is a precious resource worth redoubling our investment.

Courageous Leadership

Even in the face of these challenges, leaders are showing up with courage. During the webinar, President Keith Curry described how Compton College is using ROI data to set ambitious program-level goals, holding the institution—not students—responsible for outcomes:

“The onus is not on the student. The onus is on Compton College and our institutions.”

President Ashanti Hands reflected on the intentional partnerships that make San Diego a regional model that delivers value, reminding us that equity requires both reflection and bold action:

“We have to be the change we wish to see in the world—and that’s difficult. That means looking honestly in the mirror and being bold enough to act on what it reflects.”

This spirit of humility, curiosity, and resolve is exactly what the moment requires.

Calls to Action 
So where do we go from here?

• For institutional leaders: Get curious. What would help more of your students achieve durable economic mobility? What partnerships, data, or resources could accelerate your work?
• For researchers: Join us. What questions haven’t we asked yet? What new measures could sharpen our understanding of value—especially for underserved learners?
• For TA providers and experts: Roll up your sleeves. Just as you built capacity for access and completion, let’s now build capacity for economic mobility.
• For boards: Ask different questions. Measure different outcomes. To stay relevant, it’s time to rethink what success in postsecondary learning really means.

The Golden Returns launch sparked new energy into a conversation that’s already catching fire in the field. We’re grateful to everyone who joined us for the conversation and for the community of leaders, researchers, and practitioners leaning into this work throughout the country. Because value in postsecondary education isn’t just a measure—it’s a commitment we make to learners, families, and communities.