Testing centers a growing source of higher ed revenue
- According to reporting from University Business, campus testing centers originally intended to serve students who missed exams are also generating revenue for a number of institutions.
- The University of Wisconsin-Oshkosh, for example, contracts to handle outside educational and professional certification exams for Castle Worldwide, Comira, CATS, ISO Quality Testing, Lasergrade and ETS, and a number of institutions also offer ACT and SAT, GRE and foreign language placement tests.
- University Business reports that as much as $70,000 a year in additional revenue is brought in by the University of Idaho's 2,500 to 3,000 exams administered annually.
Significant declines in funding, particularly at the state level, have left a number of colleges and universities nationwide hurting over the last few decades. And new developments like alternative credentialing models disrupting the existing continuing education business model have added to revenue concerns.
For many institutions, revenue strains have led to tuition increases or cuts to certain programs. But a number have found alternative solutions to stem the bleeding until policymakers hopefully see the light. Along with utilizing expanded opportunities from testing centers, institutions have also looked to partnerships with private industry and community organizations, and a number of administrators, like former Stanford president John L. Hennessy and Hollins University's Nancy Gray, have been recognized throughout the industry for their fundraising success.
- University Business Colleges find a new way how to make money
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