The ROI of Investing in Student Well-being Programs

How Colleges Can Enhance Campus Value

November 7, 2024

In today’s competitive higher education landscape, colleges and universities face growing pressure to prove their value. One of the most effective ways to do this? Invest in student well-being programs.

By prioritizing wellness programs, institutions improve students’ well-being and positively impact retention, satisfaction, and graduation rates. How these types of programs enhance campus value goes beyond just student success—it strengthens the institution’s overall appeal and value to students and their families.

Why Student Health Matters More Than Ever

Freshman enrollment was down by 5% in 2023 compared to the previous year, but the impact varies across different types of colleges:

Public and Private Nonprofit Four-Year Institutions: Experiencing considerable drops, with freshman enrollment down by 8.5% and 6.5%, respectively.

Four-Year Institutions with High Pell Grant Recipients: Seeing the most severe declines, with enrollment plummeting over 10%.

Community Colleges: Facing a much smaller impact, with only a 0.4% decline in freshman enrollment.

Considering these trends, colleges must focus on improving attrition and retention rates. A supportive environment that addresses mental health challenges is essential for enhancing the overall college experience. A 2022 National College Health Assessment (NCHA) study found that depression hinders academic performance for 24.3% of college students, while anxiety affects 34%.

Clearly, student wellness programs aren’t just a “nice-to-have;” it’s a critical factor in academic success and institutional stability.

Addressing these health challenges allows colleges to show how well-being programs enhance campus value and positively impact students in many ways.

The Financial ROI of Wellness Programs

Investing in wellness programs can be financially beneficial for institutions. Here’s how:

Rising Recruitment Cost: Recruitment costs for colleges and universities are on the rise, placing additional financial pressure on institutions to attract and retain students. For four-year private institutions, the average cost to recruit a single student now stands at $2,795, while public institutions spend around $494 per student.
Improved Student Satisfaction: Health and wellness services are key considerations for students when selecting a college. Yet, only about a quarter of students express satisfaction with their wellness facilities, and another quarter see room for improvement. Investing in comprehensive wellness offerings can be a meaningful way for colleges to boost student satisfaction and support academic success.
Higher Graduation Rates: Furthermore, around half of students report that struggling with their physical health and wellness hinders their academic performance. This emphasizes the need for supportive resources that promote student health to help them succeed academically, and in turn, graduate. Additionally, higher graduation rates improve an institution’s reputation and rankings, which can attract even more students.

Essential Components of a Campus Wellness Program

To maximize the ROI of wellness programs, colleges need a well-rounded approach that meets diverse student needs. Here’s a breakdown of what a successful wellness program includes:

Mental Health Support: Quick access to high-quality mental health services can make a world of difference for struggling students.
Preventive Health Services: Regular check-ups, vaccination clinics, and health education promote overall health.
Wellness Workshops and Training: Stress management, resilience training, and sleep hygiene workshops empower students to take control of their well-being.
Digital Health Tools: Telehealth and wellness apps make it easy for students to access support, no matter where they are.

These components highlight how wellness programs enhance campus value by addressing critical aspects of student health, supporting both academic success and personal growth.

Measuring the ROI of Wellness Programs

To justify the investment in wellness programs, institutions should measure their impact on student success. Tracking these metrics can clearly demonstrate how wellness programs enhance campus value:

Retention and Graduation Rates: High retention and graduation rates reflect positively on the institution’s ability to support students.
Utilization Rates of Health Services: Tracking the usage of mental health and wellness services shows their value to the administration.
Student Satisfaction Scores: Surveys can reveal how students perceive wellness services, highlighting areas of improvement.

Evaluating these metrics allows colleges to see firsthand how wellness programs enhance campus value and contribute to long-term success.

Key Takeaways

Well-being programs inarguably enhance campus value. These programs create healthier students, boost retention, and foster loyalty. Colleges that prioritize wellness are not only helping students succeed but also reinforcing the worth of higher education.

Ultimately, how wellness programs enhance campus value is about more than just ROI. It’s about creating an environment where students can thrive, graduate, and look back on their college experience with pride. Making this commitment, colleges position themselves as leaders in the evolving landscape of higher education, and students reap the benefits.

Continued Reading: Mental Health Support Proven to Improve Student Retention