SCRANTON, Pa.--(BUSINESS WIRE)--

Penn Foster, Inc., a global leader in online education, today announced findings from a recent research study conducted by The Parthenon Group on behalf of Penn Foster that looked at the market trends and drivers in the online education category. The report found that the cost of tuition was the most important factor in school selection, moving from the fifth most important factor in 2007 to the top factor in 2012. The study also revealed that potential students believe in the value of education, but doubt their likelihood to receive pay-back on their investment in the short-term.

Our research validated what we had been observing prospective students are more and more price sensitive, said Frank Britt, CEO of Penn Foster. The prospect of having student loans and building debt is a big challenge for students today which is why we continue to focus on debt-free, pay as you go programs that make education accessible to those with less financial means.

RECESSION

The recession of 2008 is still taking its toll on our nation and is a big reason why prospective students have not enrolled in a secondary education program. They have concerns about going into debt and the weight of carrying student loans. Key findings around the topic include:

CRITERIA FOR SELECTING A SCHOOL

The research tracked trends in education over the last five years. In 2007, participants were asked to select the most important criteria when choosing an online school, with the same study repeated in 2012. The findings show that students have become increasingly sensitive to price, taking the top spot in 2012, up from fifth in 2007. Convenience and interaction with teachers also were ranked higher in 2012 than in 2007.

The cost of tuition shot up as the biggest consideration when selecting a school, indicating that concerns over potentially accruing debt is top of mind for many students, said Chris Ross, a partner at The Parthenon Group and a member of the firms Education Practice.

COMPARISON SHOPPING

Penn Foster also set out to understand the number of schools potential students research during their decision making-process. The biggest key finding includes:

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Penn Foster School Releases Findings Around Student Attitudes Toward Education