Higher education institutions are in the battle of a lifetime as they are coping with political and economic uncertainties, threats to federal aid, declining state support, higher tuition rates and increased competition from for-profit institutions. Amid all these challenges, these institutions are pressed to keep up with technological demands, including increased online course offerings, and preparing students for a global marketplace.
In the face of mounting demands, universities must also recruit and retain students and meet and surpass expected outcomes for graduation rates. University leadership is finding their roles redefined as “fundraiser-in-chief” and “visionary” along with their long list of duties and result-driven responsibilities.
Institutions are plotting how to strategically move forward by trimming some program areas and adding offerings in high-growth fields such as STEM, as well as expanding online course options in order to attract more students.
These uncertain times present a unique opportunity for universities to also reinvent themselves into models that meet target market needs, operate more efficiently, identify strategic partners and position themselves on the global stage.
The challenges in higher education also rest on national goals set by the Obama Administration to help the country regain its place with the highest proportion of college graduates in the world by 2020.
“As the United States looks to higher education as the primary vehicle for maintaining its leadership in the globalized world, colleges and universities are under increasing pressure to expand access to a quality and affordable college education and to ensure students graduate in a timely manner,” said Gretchen M. Bataille, senior vice president for leadership and lifelong learning at the American Council on Education.
In their favor, today’s tight fiscal environment does create an opportunity for university leaders to think outside the box when it comes to reinventing programs, campuses and outcomes.
