Dive Brief:
- Many small, private institutions are offering tuition discounts at a loss to keep students enrolled. In several states, aggressive public consolidation plans are being weighed. And these are just a few of the tactics higher education is trying to balance leaner populations and increased competition in the industry, according to The New York Times.
- Though education funding is rising, it remains behind the pace of pre-recession levels, and pension obligations are cutting into public college allocations. Institutions nationwide also spent $11.6 billion on new construction to attract high-income students despite being $30 billion behind in needed repairs and renovations.
- Colleges and universities also face external pressure from alternative education programs, including software coding academies, as well as a handful of studies claiming that higher education may no longer be a wise investment, and employers are increasingly hiring applicants without a college degree.
Dive Insight:
The conclusion many are drawing is that there will simply not be enough students willing to pay the cost of a four-year college education in the coming years. If the numbers are not there, colleges and universities have no option but to pursue nontraditional approaches to education, including certification programs, in addition to boosting focus on the pursuit of nontraditional students.
A report from the Education Commission of the States asserts that the percentage rate of adult learners will soon be higher than degree-seeking students under 25 years old, and the higher numbers will likely reduce the wariness other adult learners may have in pursuing their own postsecondary paths. As this happens, institutions should ensure that they are utilizing outreach methods that can inform these learners of potential college opportunities, in addition to ensuring campus offices are prepared to serve them.