McGraw-Hill’s New and Expanding Affordability Initiatives Help College Students Save More than $55 Million in 2018
Published March 12, 2019
McGraw-Hill Continues to Support Student Success through a Range of Affordable Options
NEW YORK (March 12, 2019) – As rising costs associated with higher education continue to weigh heavily on students, McGraw-Hill is strengthening its commitment to students, educators and institutions to lower costs and increase student achievement. In 2019, McGraw-Hill will continue to expand its programs that in previous years saved students millions of dollars, while increasing student success and equity. In 2018, these initiatives saved students an estimated $55 million.
“The cost of college is one of the most pressing issues in higher education today,” said Nana Banerjee, CEO of McGraw-Hill. “A college degree is critical for students seeking greater economic opportunity and a brighter future. It is particularly important for students at the bottom of the income quintile, where a degree raises their earning potential dramatically.
As a mission-driven company, we want to lead in helping educators unlock the full potential of each learner, regardless of economic status. We know there’s only one option. We must provide learning materials that are both high-quality and affordable. That’s why we are doing all we can to partner with educators and institutions to lower costs and drive students’ success.”
In 2018, McGraw-Hill significantly expanded the number of institutions it works with on inclusive access programs, which enable students to have high-quality digital materials delivered to them by the first day of class at significantly reduced prices. McGraw-Hill now serves students through its inclusive access programs on more than 550 college campuses, saving them 50 to 80 percent off the cost of traditional textbooks.
“When colleges implement inclusive access programs, it’s a win-win for students,” said Simon Allen, President of the Higher Education and International groups at McGraw-Hill. “Not only do these programs save students money, but they also make it more likely students will succeed in their courses because they get access to course materials on day one of class. That’s perfectly aligned with our deep focus on affordability and outcomes.”
McGraw-Hill research into student performance on its learning platforms demonstrates that students with immediate access to course materials score 20 percent higher in academic achievement than those forced to wait two or more weeks for materials. For many students, the inability to pay for materials or the standard wait time to access funds from student loans can typically delay access to course materials and affect learning outcomes.
In addition to its focus on inclusive access, McGraw-Hill enters the second year of its textbook rental program with distributors including, but not limited to, Amazon, Barnes & Noble Education, Chegg, Follett and MBS Textbook Exchange. The rental program saves students up to 70 percent off the cost of traditional bound textbooks and provides favorable consignment purchasing terms for college bookstores – all in an effort to provide more access to students who need it most.
Enhanced Digital Solutions
Additionally, the company continues to innovate with its digital course materials. It recently launched a next generation version of the adaptive learning engine within the McGraw-Hill Connect® digital learning platform, and has added tools to its digital programs that help students improve critical thinking skills, better prepare for the future workforce, and make it easier for instructors to identify students at risk of failing.
One of these tools, ALEKS Insights, part of the McGraw-Hill ALEKS adaptive learning solution, uses machine learning to help alert instructors to students who are at risk of failing or dropping out of a course. And a new feature added to McGraw-Hill SIMnet offers micro-credentials, which students can earn as they garner the skills they need to successfully enter the workforce.
Two recent reports recognized McGraw-Hill Connect and ALEKS as leaders in the market. An October 2018 report from industry research firm Outsell showed Connect to be used by more students than any other courseware solution. And a 2018 study published by BrightBytes showed ALEKS to be by far the most effective math learning app studied.
McGraw-Hill is a learning science company that delivers personalized learning experiences that help students, parents, educators and professionals drive results. Headquartered in New York City, McGraw-Hill has offices across North America, Asia, Australia, Europe, the Middle East and South America, and makes its learning solutions for PreK-12, higher education, professionals and others available in more than 60 languages. Visit us at mheducation.com or find us on Facebook, Instagram, LinkedIn or Twitter.