(Source: ACE – American Council on Education)
There’s no sugarcoating the ongoing financial challenges institutions face, but strategic leadership can help ensure sustainability.
April may be the cruelest month, as T. S. Eliot famously wrote, but for higher education, it would be tough to beat March 2015.
On March 3, Sweet Briar College in Virginia abruptly announced that the 114-year-old women’s college would shut its doors at the end of the academic year. While the small liberal arts college has an $85 million endowment, officials said it would take more than three times that amount to keep the doors open. Then, a little more than a week later, the Arizona legislature and Governor Doug Ducey moved to pull all state funding from two of Arizona’s largest community college districts—an unprecedented move that zeroes out state-level support to institutions serving more than 330,000 students.
Keep reading The Highly Endangered Higher Education Business Model (and How to Fix It) in “The Presidency”, the American Council on Education’s quarterly magazine.