Although extensive research exists about the short- and long-term outcomes of a college degree, researchers, leaders, and education consumers still lack a common definition of the value of postsecondary education. Creating an equity-focused definition of postsecondary value would provide important focus for education leaders, encouraging each of them to offer programmatic experiences that equitably deliver on the elements identified in the definition for students from all backgrounds. This paper informs the development of this definition by summarizing research on how U.S. adults perceive higher education and the value it provides them. The paper also explores a critical outcome of higher education--graduate wellbeing--and how this element combines with other economic measures such as income, to capture the complete value a postsecondary degree provides graduates. It is important to note that the research conducted for this paper uses data collected among those with a bachelor's degree or higher, and further research is needed among those who have no postsecondary experience, those who have completed some postsecondary education but not completed a degree, and those with other types of credentials and degrees.