If you follow the trends of higher education, you’ve no doubt heard the prediction that 50 percent of the country’s colleges will be bankrupt in 10 to 15 years. And that perspective has been touted for the past 20+ years, so…we need to take it with some salt.
Still, we have seen an uptick in closures and mergers of late. This is worth looking at because, there is some truth to this prediction and we’d be fools to simply say, “Never gonna happen.”
There are plenty of industries that have gone through these kinds of retrenching or refocusing. In the world of Mergers and Acquisitions, any business is broken down on paper for its assets and liabilities. Assets are considered for liquidation – the idea of “selling off the parts.” This is happening in academia as well. Harsh but true: profitable departments or schools within an institution are being “adopted” by other stronger institutions while the rest of the weaker institution is shut down.
Before we all consider our college diplomas to be rare antiques, is there any way to safeguard against this trend?
Below, we share some perspective on different options being considered and some resources you may want to access for a deeper dive. Here’s one of them: Our non-traditional student recruitment ebook: Quality. Cost. Convenience. The extended edition on Intead Plus gives you marketing planning insights, sample personas along with case studies from nine very different institutions.
Next week we'll be talking about long-term vision and growth. But before we get there, we need to understand a bit more about where we are now.
Do you want the good news or the bad news first?
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