Higher Education Trends August 11, 2016
Pivotal Juncture Louis Soares Vice President for Policy Research/Strategy American Council on Education (2015) “Higher education in the United States is at a pivotal juncture in its history. Multiple forces, including • demand for knowledge and skills, • constrained public funding, • public concerns regarding affordability, • student demographic change, and • technological innovations are driving a need for change at the system, institution, course, faculty, and student levels. • Innovation leading to improved performance certainly seems to be in order.”
The landscape that is making the job more difficult
Changing Demographics Projected High School Graduates – Georgia – 1997 – 2028 - WICHE, 2012
Numeric Growth: Adults 28% of all enrolled undergraduate students are over 25 years of age 51% Projected Growth by 2019 Babson, 2012
Governmental & Other Influences • College Scorecard | Aid Tied to College Performance • Changes in Financial Aid Programs – Promote Access • America’s College Promise - Free Community College (i.e., the Tennessee Promise)
The Influence of Technology
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Student Success Complexity • Options (“ Swirling ”) (Adelman, 2014) • Multiple content options (Blumenstyk, 2015) • Challenges faced in K-12 education (Lumina, 2013) • Diversity of needs : SES, students of color, First-Generation
The Economy & Financing Higher Ed • The economic climate and its impact on: • Family resources to afford higher education (Adelman, 2010) • The confidence to borrow to pay for higher education (Hossler, 2009) • Government funding: vulnerabilities and compliance • Securing funds for capital improvements • Financial aid discount rates • Increasing cost of meeting expectations of constituents
Marketing and Branding “Institutions lacking clear differentiation, a demonstrable value proposition, organizational flexibility and a strong balance sheet will face severe difficulties....In the face of this change no college or university can remain static and survive.” - Unsettling Times: Higher Education in an era of change 12 8/12/2016
The 7 Legal Ways to Get Resources Grow – more new students, better retention (and hopefully more net tuition revenue!) Raise – annual fund, campaign, major gifts Borrow – bond issue, other forms of traditional financing, borrow from yourself (quasi-endowment/net surplus) Shift – (the hardest way) – stop doing something to do something else and/or do less of one thing to do more of another Focus – get more with existing resources through training and raising awareness Alternate – create new revenue streams Partner – a continuum with cooperation on one end and merger on the other
Thank you! Tim Fuller, Senior Vice President/Owner Credo
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