A Better Higher Education Data and Information Framework for Informing Policy: The Voluntary Institutional Metrics Project

A recent report from HCM Strategists outlines the progress of 18 higher education institutions to develop a set of key metrics that state and federal policymakers might use to gauge the performance of higher education institutions.  The project set out to identify metrics for measuring five key areas:  student loan repayment and default rates, student progression toward and completion of a degree or certificate, cost per degree, employment outcomes for graduates, and student learning outcomes.

The goal of the project was to define the metrics which could provide a more complete picture of each institution’s performance, be applied across various types of institutions, be used with an “input-adjusted approach” that take student characteristics into consideration, and inform policymaking. Finally, the group sought metrics that used existing data collections. The report contains an update on the group’s progress in developing and finalizing the metrics. For each of the five key areas of metrics, the report provides a description of the gaps in currently available data, challenges in accessing and utilizing data, and recommendations for next steps. Data for employment and learning outcomes continue to present the greatest challenges.