Elite Colleges Reinvent Themselves to Face an Uncertain Future
“Starting to Worry,” a new article by Kevin Kiley for Inside Higher Ed, offers further evidence that certain smaller colleges are growing increasingly anxious about how long they can continue to charge high tuition and offer exclusive educations to a small number of students.
To quote from the article . . .
“In the past year, presidents of several elite liberal arts colleges have questioned whether the financial model underpinning their institutions – one relying on high tuition costs and student aid paying for expensive instruction and residential life on beautiful campuses -- is sustainable over the long term.”
According to the article, here are some changes that are in the offing . . .
- Middlebury College is limiting its annual tuition increases to 1 percent more than the inflation rate.
- Bowdoin College is looking at ways to cut costs by using technology to deliver instruction.
- The University of the South has announced that it will cut tuition by 10 percent.
- Smith College is looking at many revolutionary strategies to change its educational model. This elite college might even start to enroll students who are not working toward degrees.
So, is America’s educational model changing quickly? You bet, only not quickly enough. It seems certain that American higher education will change more in the next decade than it changed in the last 100 years. That’s’ where our money is, and you’d be wise to bet on it too.