Are Microcredentials Worth It? These Newly Accreditor-Backed Ones Might Be.

Microcredentials, short credentials that demonstrate your proficiency in a skill, are becoming increasingly popular, and employers are taking notice. But how do you know which programs are worth their weight? The Higher Learning Commission, a leader in university accreditation, just endorsed four companies offering these short-term programs, ensuring they pay off for both students and employers.

Colleges and universities — which have institutional accreditation — also offer microcredential programs that might also be worth your while. Read on to learn more about endorsed credential providers and microcredentials’ ROI.

“These endorsed providers meet high-quality standards in offering short-term credentials of value,” said HLC President Barbara Gellman-Danley. “The intent is to increase pathways for learners to gain the qualifications they need to advance careers and success.”

The HLC considered these four providers for endorsements because:

The Corporate Finance Institute offers over 250 courses and seven certifications covering financial modeling, accounting, AI in finance, investment banking, and more. Students benefit from translated subtitles from virtual lectures, an AI tutor, access to experts, and a curated job board.

Certifications:

Kaplan is a learning platform that serves students from high school to working professionals, offering courses and exam preparation to help you pass standardized tests, credentials, and licensure exams. It also offers a Career Center Assessment to see which careers best fit your talents and personality.

Kaplan offers courses for professionals in seven core fields:

Sophia Learning offers a catalog of courses for college credit you can transfer to over 100 partner colleges, including:

For $99 a month, you can enroll in up to two courses at a time from a catalogue of over 70 classes, for as long as you’re subscribed. You also do not need to pay any additional fees, such as for books and materials.

Voltage Control offers a three-month Professional Facilitation Certification & Training program for executives and leaders focusing on facilitating meetings, workshops, training, and events. The program teaches you how to tell when you need AI assistance. The $5,000 cohort program meets each Friday for live sessions with asynchronous work.

If you’re looking for more microcredentials, check out other massive open online course (MOOC) platforms, including Coursera, EdX, LinkedIn, and Udacity. In addition, many large employers and universities partner with these MOOC providers to offer microcredentials.

If you’re interested in earning microcredentials or digital badges and you’re currently employed, start by asking your employer for information. Your company might already partner with a school or credentialing organization. They might even subsidize the cost of your microcredential if it relates to your role.

You can also find microcredentials at community colleges, state universities, or private colleges.

Microcredential programs can cost anywhere from hundreds to thousands of dollars, depending on the type of program and if it can lead to a certification.

A 2023 EdResearcher survey found the average cost of one type of microcredential, Micromaster programs, that can count towards a master’s degree. The MicroMaster microcredential programs cost around $1,500 on average, with programs ranging from about $200-$4,700 in 2023.

You can also use most EdX MicroMaster program credits toward a full master’s degree. About 60% of MicroMasters programs in the study could count 9-12 credits toward a 30- to 36-credit master’s degree.

The EdResearcher survey also found that Coursera charges students $49-$79 per month for specializations, meaning your cost depends on how long it takes you to complete the program. These specializations, however, don’t necessarily stack toward a degree.

In a 2023 IBM and Morning Consult report, most learners who earned a digital credential said these credentials were somewhat or very helpful in achieving career goals.

However, 60% of those polled also said these programs were too expensive

Despite dissatisfaction with the costs, students overall benefited from learning something new. While only 28% of learners entered their program expecting to learn something new, nearly all (96.4%) reported this outcome. Additionally, 15% of completers said their program helped improve their application for their first job.

Additionally, in a 2022 SHRM report, more than 8 in 10 executives, supervisors, and HR professionals said alternative credentials offer employees greater credibility.

Microcredentials may not be for all professionals though. Fields that require state licensure like teaching and mental health counseling have strict requirements to be eligible to practice.