Trends in Higher Education
Thanksgiving vacation provided me with some time to catch up on reading. I’ve significantly reduced magazine subscriptions due to their digital availability, but one I continue to receive in print is The Economist. In its November 2, 2019, issue, the magazine wrote about business schools in the U.S. and the market forces forcing them to change.
More than 40 years ago, I started working at Price Waterhouse (now PricewaterhouseCoopers, or PwC). Even though I was on the consulting track, I was encouraged to sit for the Certified Public Accountant (CPA) exam and become a licensed CPA. Having this license, along with an MBA, boosted my career and I subsequently served as CFO at five different companies over the years.
I am no fan of the Department of Education’s College Scorecard, primarily because it is incomplete and may be misleading for some metrics. Much of the data is derived from students using Federal Student Aid (FSA) only and some of it is from those who are first-time, full-time students using FSA loans. At APUS, most of our students are part-time, working adults not using FSA to fund their education. I first wrote about the Scorecard in 2016 and reported about others like me who criticized its incomplete data.
Despite the flaws of the Scorecard, I understand why Georgetown University’s Center on Education and the Workforce recently attempted to create a return on investment (ROI) for all colleges using this data. First, it’s the only published source that uses IRS data to match earnings with students who have attended those specific institutions and who received FSA. With access to earnings, institutional costs and debt incurred, the researchers can calculate a rudimentary ROI.
The Horizon Report: Leveraging Technology to Enhance Student and Institutional Outcomes With an Eye to the Future
We operate in a turbulent higher education marketplace. Many forces are impacting the foundational pillars of higher education, from economic and demographic to social, cultural, and, especially, technological. Knowing how these forces will impact higher education helps leaders adjust, adapt, and plan for the future. This awareness can help an institution to survive or even flourish.
One established source for understanding trends has been the New Media Consortium’s (NMC) annual Horizon Report, which assesses short-, mid-, and long-term trends in the adoption of technology in higher education. The report also looks at the anticipated timeframe for the adoption and the challenges that might impede the adoption of that technology. Over the last 16 years, NMC has used the Delphi Method, engaging industry experts like consultant Bryan Alexander to develop, discuss, and forecast the likelihood and strength of these trends. I have used the report as homework for my academic leaders and it has been suggested reading for all university leadership for many years.
APUS showcased a variety of faculty research and innovation at the Policy Studies Organization’s recent 10th annual Dupont Summit in Washington, D.C. This year’s conference proved to be an excellent event for APUS faculty to showcase the advances in online higher education about which we are most passionate.