A new report by consulting firm Bain & Company is forecasting the majority of higher education to be in a tough financial spot three years from now due to a confluence of operational challenges affecting institutions.
"We're about to fall off that cliff," said Higher Education Co-Chairman Gregg Haddad referring to the reliance the state system placed on one-time federal aid investments, such as the American Rescue Plan.
Schools are racing to replace 20-year-old administrative systems to modernize the faculty and student online experience, yet investments in cloud-based infrastructure dropped by double-digits in 2022, something Tambellini Group has never recorded before.
Citing pandemic issues and poor enrollment numbers, Buffalo-based Medaille University marks another private school in the Northeast too financially strapped to continue operations. Instead of closing, however, they're merging.
Dedicated to embracing an evolving higher education landscape that's cost-effective, career-minded and digitally native, Vermont has begun to revitalize its once-flailling student body. Two big initiatives pushing this change are recent school mergers and a powerful free community college pipeline.
To curb the deepening student loan crisis, the Department of Education aims to impede the abuse of federal funding at for-profit colleges by forcing school leaders to assume personal liability for unpaid institutional debt.
The Aspen Institute and CCRC have invited ten community colleges to participate in a program that can reprogram their values to boost the likelihood of students landing high-paying jobs or being admitted into universities.