Amongst a Questionable Economy, Presidents Reveal a Quality Education Still Prevails
Mar. 19, 2013 at 09:00 AM | By Robynn Anton | Comment Count
A few weeks ago, Inside Higher Ed released its Presidential Survey at the ACE Annual Conference in Washington, D.C. The survey asked Presidents of both non-profit and for-profit, private and public sector institutions a variety of questions regarding concerns for the upcoming school year. Topics addressed in the survey included budget cuts, increased cost of tuition, maintaining quality academics, increased competition for students, and remediation issues, to name a few.
While the survey did not reveal whether the steps institutions are taking to address their concerns in 2013 will have a direct impact on the current academic school year, over 70% of the Presidents were confident that despite recent cuts, a quality education at their institution prevails.
Meet the President
The average President who participated in the survey was male, ages 60-67. He has been at his current institution for over 5 years and represents a private 4-year institution or community college.
How does your institution stack up to these stats?
In a questionable economy, the Presidential Survey also shed light on some positive factors regarding their institutions:
- 40% of Presidents feel they can manage institutional data (big data) and respect the accuracy of the information to guide them in making crucial decisions.
- 75% of Presidents from public schools believe their institution is effective at developing community relationships.
- 58% say they are very effective at preparing their students for the world of work.
- 72% say they are effective at managing financial resources.
- 45% of Public sector schools feel they are good at building political support.
Budget cuts are top of mind for all institutions
While the Presidents across the board agree that recent budget cuts have not affected their institutions’ quality of education, they are concerned with the effects cuts have on not only moral, but campus operations and support services. Presidents are looking for ways to offset budget cuts in order to avoid a negative impact on their institution as a whole.
As a result of budget cuts, institutions feel it is necessary to increase tuition to continue offering quality courses. A majority of the Presidents are also in favor of increased taxes within their state and are working toward increased alumni support to help offset lack of funds.
In an effort to reduce costs, institutions are also looking into collaboration, with over 35% supporting collaboration with other institutions on academic programs as well as administrative activities.
A shift in undergraduate teaching to senior faculty or to part-time or non-tenured faculty was also listed as ways that public baccalaureate programs and community colleges are dealing with the financial limitations. Reducing administrative staff was also an option to reduce costs amongst a high percentage of the schools.
Yes! I want to go to your school!
Just as any business is faced with competition, colleges and universities are also challenged by the need to stand out amongst hundreds of other schools going after the same student. Additionally, new higher ed models promise an economic alternative to traditional means of acquiring a college degree. Whether they are seeking online programs to supplement their course load, or are looking into MOOCs to show potential employers that they have what it takes, prospective students are educated and savvy on their options. In response, institutions are looking for new and innovative ways to attract students (How to use social media for student recruitment) and amplify brand visibility - often on a limited and shrinking budget.
Is your institution prepared to handle the effects of the economy? Stay tuned as we spend the next several months taking a deeper dive into the concerns of Presidents and their institutions. During our research, we will help you discover new ways to manage budget constraints and declining financial government support, collaborate with other universities, compete with new higher ed models and outshine your competition, all while maintaining high quality support services and effective operations focused on maintaining your reputation and the integrity of your brand.