CollegeNET and PayScale Introduce the Social Mobility Index (SMI) for US Higher Education
New Data-Driven Ranking System Compares Higher Education Institutions According to How Efficiently They Advance Low-Income Students through Graduation Into Good Careers
Portland, Or., and Seattle, Wa., October 16, 2014
CollegeNET, Inc., a leading provider of Web-based on-demand technologies for higher education, and PayScale, Inc., the leader in cloud compensation data and software, today introduced the Social Mobility Index (SMI), a new data-driven ranking system that compares the extent to which US colleges and universities efficiently graduate students from low-income economic backgrounds into promising careers (socialmobilityindex.org).
The goal of the SMI is to help refocus our higher education system away from the empty chasing of “prestige” and toward providing economic opportunity more broadly for our citizens.
“In its best form, US education has served as an open gateway to economic opportunity for dedicated students. But over the past 30 years, as the prospect of college has turned into an expensive gamble for ordinary citizens, we have slipped from #3 in college graduation rate to #13 among developed nations. That doesn’t cut it in an age where economic competitiveness depends upon skill development” says Jim Wolfston, CEO of CollegeNET. “Fortunately, some colleges are getting it right; the SMI exists to highlight their contribution and example.”
About CollegeNET, Inc.
CollegeNET, Inc. builds on-demand SaaS technologies that help institutions improve operational efficiency, enhance communication with constituents and save money. The company's systems are used by 1,300 institutions worldwide for event and academic scheduling, prospect and admissions management, Web-based tuition processing, instructor and course evaluation, and alumni development. Additionally, CollegeNET operates a fast-growing social network through which students create topics, write about them, and vote to determine who will win scholarships.