Northeastern University has become one of America's most sought-after schools, with its acceptance rate now comparable to some Ivy League institutions due to the rise in applications. The university's appeal lies in its unique academic model, which allows students to alternate between academic studies and up to 18 months of full-time paid work experience. This model increases their chances of securing jobs after graduation. Viewed as a "safety school" in the past, Northeastern, along with universities like Drexel in Philadelphia and Georgia Tech in Atlanta, is gaining attention for its career-oriented approach as many Americans question the value of a traditional college degree.
There is a growing debate about whether U.S. universities are providing the talent that companies need, given that nearly half of workers with bachelor’s degrees are in jobs that do not utilize their college credentials or skills. Universities with co-op programs claim to have better outcomes due to students obtaining at least one six-month professional job during their studies, often through the university’s employer network.
A recent Northeastern graduate, Nolan Pollack, highlighted the benefits of the co-op program in securing a job with Toast, a company he interned with, after failing to receive other job offers in a challenging job market. Northeastern's efforts to expand its outreach have led to a reduction in its acceptance rate to 5.6%, with applications roughly doubling in a decade. The university partners with companies like Google and Tesla, and reports that 95% of its students are employed full-time or in graduate school within nine months of graduation.
Other universities, such as the University of North Carolina's School of Data Science and Society, are consulting with Northeastern to learn more about the co-op model, recognizing its value in producing "employment-ready" graduates. Drexel University also reports significant success in connecting graduates with jobs in their fields of study, often with their co-op employers.
Co-op programs are noted to provide more in-depth experience compared to traditional internships. For instance, Pollack stated that a co-op enabled him to participate in substantial projects, unlike the shorter assignments typical of a 10-week internship. Moreover, Northeastern offers compensation and academic credit for co-op periods, during which students do not pay tuition.
However, some argue that Northeastern's high costs, which can reach $90,000 annually excluding financial aid, limit access for local middle- and working-class students. The co-op experience also provides students with valuable insights into their career preferences, with about a third changing their majors after completing co-ops that did not align with their interests.
Initiatives like Saxbys, a coffee-shop chain's collaboration with over 30 universities, including Drexel and Northeastern, offer students co-op-style opportunities to manage locations. Such experiences can be pivotal, providing unique leadership and business management skills that stand out in competitive job markets.