Home Tag "effect of COVID-19 on higher education"

Financial Planning for College Expenses and COVID-19

On the cover of the July 2021 Journal of Accountancy (a publication of the Association of International Certified Professional Accountants or AICPA) is an illustration of a few multi-colored college graduation caps along with the headline and subtitle: “Education expenses – Expert discusses student loans, savings tips, and making plans in a changing environment.” The cover article, a question-and-answer interview of college planning expert Ross Riskin by senior editor Dave Strausfeld, seems timely given that many college tuition bills are sent out around July 1 each year.

Higher Ed: A Day of Reckoning or Is It Business as Usual?

Perhaps it was Rebecca Natow’s article in The Chronicle of Higher Education Review titled “Why Haven’t More Colleges Closed?”. Maybe it was Allison Salisbury’s article in Forbes titled “Building Equitable Upskilling Programs: It’s Not Degree Vs. Short Credentials – It’s Both.” Also, it could be the hundreds — if not thousands — of articles and books about the pending changes in higher ed that have been written and published over the past two decades. Clearly, the most recent two articles cited triggered my motivation to pen this article.

What’s the Best Way to Create Innovation in Higher Education?

A few years ago, I was asked to develop and teach a course on Educational Entrepreneurship to a cohort of doctoral students enrolled in the Executive Doctorate in Higher Education Management program at the University of Pennsylvania’s Graduate School of Education. As I constructed the syllabus for the one-semester course, I realized that I needed to find instructional content/materials to provide the students with some knowledge about business models in order to adequately complete the final assignment. That final project was an 8- to 10-page paper outlining in some detail a unique idea to generate revenues or reduce expenses for their institution.

Meeting the Grand Challenges to Higher Ed: The Pandemic

Shortly after EDUCAUSE conducted its survey of higher ed presidents, provosts, Chief Information Officers (CIOs), and Chief Technology Officers (CTOs) but before it published Grajek and Brooks’ Grand Challenges, the COVID-19 pandemic hit. The pandemic caused the closure of most campuses, required students and faculty to learn and teach from home, and impacted the revenue and expense stream of most colleges and universities.

Another Financial Warning Tool for Colleges and Universities

When I saw the headline for The Hechinger Report article, "Analysis: hundreds of colleges and universities show financial warning signs," I thought, “just what we need…another rating system.” To my surprise, authors Sarah Butrymowicz and Pete D’Amato did not develop a new early warning system evaluating the financial stability of colleges and universities. Instead, they utilized the methodology developed by Robert Zemsky, Susan Shaman, and Susan Campbell Baldridge and published in their recent book, The College Stress Test.

Will Zoom and COVID-19 Accelerate Drucker’s 1997 Prediction?

In 1997, Forbes Magazine published an article titled "Seeing things as they really are," which was an interview about the future with legendary management professor Dr. Peter F. Drucker. When asked about the future of higher education, Drucker said, "Thirty years from now, the big university campuses will be relics. Universities won't survive. It's as large a change as when we first got the printed book. The college won't survive as a residential institution. Today's buildings are hopelessly unsuited and totally unneeded." Given that his prediction was for 30 years in the future, Dr. Drucker has six more years for something similar to it to occur.