As they say, "a picture is worth a thousand words." Check out this chart from the Chronicle of Higher Education that shows enrollment growth over the past ten years among for-profits compared to any other area in higher education. Now think of all the press lately about the questionable enrollment practices among for-profits and ask yourself where our profession is heading. Sobering isn't it?
Families are facing rapidly escalating college costs, are reaching across all funding sources to meet additional college costs, and are very worried about future tuition increases, according to a report just released by Sallie Mae and Gallup. After interviewing over 1,600 undergraduates and parents of undergraduates, the Sallie Mae and Gallup study uncovered some very sobering findings:
· Nearly half (49%) [of parents surveyed] are extremely worried this year that schools will increase tuition compared to less than one-third of parents two years ago.
· One-third of parents are extremely worried that their income will decrease due to job loss, up from 23 percent last year.
· Only 10 percent of parents were extremely worried two years ago that their child wouldn't be able to find a job, but that has risen to 27 percent this year.
· More families reported eliminating schools during the college selection process based on cost after receiving their financial aid packages (40% this year compared to 36% last year and 34% two years ago).
· 63 percent of families report eliminating colleges because of financial considerations at some point in the application process, compared to 56 percent in 2009 and 58 percent in 2008.
I just read an article in the Chronicle that presented a provocative idea: putting enrollment professionals in charge of recruitment and career services. This out-the-box idea seems brilliant and somewhat obvious at the same time, right? But that's exactly what University of Pennsylvania's Wharton School did. Instead of just focusing on the next class of new recruits, admissions folks are now gaining a direct understanding and appreciation for the "back end" of students' academic experiences. One footnote: University of Pennsylvania implemented this expanded role with their MBA program. But why stop there? Let's really throw caution to the wind and consider who this idea could be put into action at more traditional, undergraduate liberal arts institutions. And think about another great benefit: enrollment folks will finally have access to outcomes-based data that have shown---time and time again---to be extremely influential in the college decision process.
Helicopter parents--we know they are out there, hovering over students, ready to swoop in and offer their support and guidance whenever needed. The challenge for many schools is what to do with these well-intended but often exhausting parents. I just read an article that discussed a great way to engage today's parents as students are making the transition to college: refocus new student orientation so that parents' needs are addressed in an open and honest way. How do parents get comfortable with letting their student make decisions on his/her own? How do parents deal with student homesickness? And what about parents who are now empty nesters--how do they deal with that? Schools have developed creative ways to address these questions during new student orientation:
· At Northern Michigan University in Marquette the school plays actual recordings during parent orientation of upperclassmen recreating desperate calls they made home.
· At Stonehill College in Massachusetts parents are invited to attend a lecture on "letting go."
· And at Reed College in Portland, Oregon, parents are invited to read "The Odyssey" then attend a lecture and discuss similar issues to what their student will experience in a freshman humanities course.
I bet these "repurposed orientation programs" will not only help parents redefine their relationship with their student (from helicopter parent to parent of young adult), they may also increase new student retention. Think about it: if parents are comfortable with their student's college environment they will be more likely to encourage them to "stick it out and graduate." Makes sense, right? And why wait until orientation to start this important dialogue with parents. Colleges should expand the conversations they are having with parents during the admissions process by including specific examples of how their school will help make the transition to college a positive experience--for both students and parents.
With continued economic uncertainty, colleges that are truly innovative find a way to work with the challenges they are facing. That's exactly what Albion did--a liberal arts college (with a seemingly high sticker price) in an area plagued with skyrocketing unemployment. This spring, the College instituted the "Albion Advantage," a guarantee that they will help their graduates who struggle to fulfill their career goals by finding them internships or by offering them a free semester of noncredit study. On top of that, the College also beefed up its career services and is offering career support to students much earlier in their Albion career. I love ingenuity in "tough times" and, in my opinion, Albion found a way to make an unattractive situation look a lot better. How's that for making a challenge work for you?
In this challenging economic time, Scannell and Kurz offer ten very helpful financial aid strategies that will help you prepare for 2010:
1. Identify metrics that reveal how you're performing, then track them against the same or a similar period in the prior two years.
2. Benchmark annually on sticker price, discount rate, and prestige indicators with top competitors.
3. Help admissions recruiters make the case for affordability, value, and career outcomes.
4. Make sure financial aid counselors can talk comfortably and accurately about financing/payment plan options as well as financial aid programs.
5. Keep admissions and financial aid staffs on the same page by using net tuition revenue goals as the common denominator.
6. Use an analytical, not anecdotal, approach to adjusting aid policies.
7. Be as transparent as possible about awarding policies.
8. Watch out for policies that stack merit awards on entitlements, need-based aid, talent-based aid, etc.
9. Make sure renewal policies are not negatively impacting retention.
10. Be transfer friendly.
Have you seen "With Their Whole Lives Ahead of Them?" It's the first of three reports describing students' views on higher education and college completion. This report includes very interesting myths and realities about why students fail to finish college. Check this out:
Myth # 1: Most students go to college full-time. If they leave without a degree, it's because they're bored with their classes and don't want to work hard.
Reality #1: Most students leave college because they are working to support themselves and going to school at the same time. At some point, the stress of work and study just becomes too difficult.
Myth #2: Most college students are supported by their parents and take advantage of a multitude of available loans, scholarships, and savings plans.
Reality #2: Young people who fail to finish college are often going it alone financially. They're essentially putting themselves through school.
Myth #3: Most students go through a meticulous process of choosing their college from an array of alternatives.
Reality #3: Among students who don't graduate, the college selection process is far more limited and often seems happenstance and uninformed.
Myth #4: Students who don't graduate understand fully the value of a college degree and the consequences and trade-offs of leaving school without a diploma.
Reality #4: Students who leave college realize that a diploma is an asset, but they may not fully recognize the impact dropping out of school will have on their future.
I recently read an article that caught my eye. Here's the first line: "Louisiana State University (LSU) must increase its graduation rate to 75 percent by 2018 and all other public universities in the state must hit at least a 50 percent plateau, according to a recommendation by a statewide college review commission." The article went on to say, "Schools that achieve their goals would receive financial rewards for hitting their marks." Sounds great...Increasing student retention will strengthen Louisiana's colleges and universities--and students, themselves, will undoubtedly benefit, right? I say bravo, Louisiana! Go forward and "make that happen." Oh yeah, that's the real challenge: How does Louisiana actually make that happen? Don't get me wrong, I like setting goals; they are an important first step toward getting things done. But that's the point: setting goals help make things happen; they alone don't make them happen. What's needed? How about a thorough examination of how Louisiana colleges can offer an educational experience that is both meaningful and engaging to students? Once that happens, I bet increased graduation rates will follow. Making retention the goal--in and of itself--is shortsighted. We need to move beyond goal setting and provide our students with a reason to stay.
Here's a classic "good news, bad news situation" for you to think about on this Sunday afternoon. Let's start with the good news: undergraduate enrollment at private colleges and universities, according to a new Moody's survey, is up by almost 1 percent, and freshman applications at private schools rose by 4.3 percent, compared to last year. Sounds good, right? Ok, now for the bad news: Moody's also reported that nearly 30 percent of private colleges are expecting a decline in net revenue from tuition and fees in the 2010 fiscal year. The big reason, Moody's said, is a rise in discounts and financial aid as a result of the economic downturn. That's the real struggle so many private schools are dealing with: how do we maintain enrollment while not giving away more net tuition revenue???
I attended a very interesting presentation last week on enrollment trends in Higher Ed. As I sat there taking in the latest enrollment figures from the College Board, two statistics really got my attention: The percentage of all undergraduates enrolled in the for-profit sector increased from 2% in 1990 to 5% in 2000 to 8% in 2007. And the percentage of full-time undergraduates enrolled in the for-profit sector increased from 2% in 1990 to 6% in 2000 to 10% in 2007. Remember when we thought the for-profit sector would never begin to encroach on the enrollments among the not-for-profit sector?? Well guess again!
