The adaption of digital wallets – the tools, often in app form, that combine learning and employment records in one place – is helping to give college students a sense of ownership over their records and achievements. From tests students take in class to the skills they’re learning through co-curriculars, digital wallets capture it all. And open-source technology is being developed through ASU and MIT for other institutions to potentially leverage.

“It’s a storytelling opportunity; one thing you can do with this is fill in some of the gaps and spaces that a transcript may not,” Keisha Campbell, executive director for enrollment services at Morgan State University, told Inside Higher Ed. “It’s important to recognize you’re learning all along the way and whether you leave with a diploma or a credential, it’s still helpful.”

Overhauling technology systems and managing change to make digital wallet use the norm are some challenges to overcome. Yet, it’s possible, according to Kyle Lee, chief executive officer for CNM Ingenuity. “We have to think of education as an ‘and’ statement: It’s ‘academic learning’ and ‘life learning,’” he said. “We’re in this storm where we’re getting the most value for this individual, as opposed to what emerged as a linear path where you go into white or blue collar worlds. This is a new collar environment.”

Read more about the world of digital wallets here.