Institutions are facing new pressure to decrease tuition while maintaining positive student outcomes. The current higher education environment is challenged by a variety of internal and external factors, including heightened scrutiny, competition, and changing expectations. Given the disruptors at play, institutions are wise to adopt a transformational approach to affordability management as it relates to: financial performance, operations optimization, and student success. To maximize the value of a transformation, schools should use a customized approach, designed specifically to ensure successful adoption by each institution. The ability to quickly address the realities facing higher education, within the context of return on investment, is paramount.
Student loan debt has increased by upwards of 200% in the last decade, with over $1 trillion in debt currently outstanding in the United States.
Navigating the complexities of a higher education institution’s structure adds to the challenge of creating meaningful and expected change in the short term. Institutions can begin to address their affordability challenges by:
- Articulating unique value and ROI
- Optimizing operations
- Measuring the enhancement of student success