Achieving Financial Sustainability Through Times of Uncertainty

The global pandemic is transforming industries at break-neck speed, and for some of them, beyond recognition. One of those industries is higher education. The traditional model, including in-person lectures and learning, physical participation in college activities, and on-campus social engagement, has been a mainstay for most higher education institutions for hundreds of years.  

Then, a pandemic hit. Campuses closed. Students went home. The college experience as we knew it transformed. 

While colleges and universities are moving to attract students back to campus, the campus experience is being viewed differently. Now, parents and families are having hard conversations, wondering why they should pay full tuition, room and board, and additional fees for in-person campus experiences, when, in many cases, students are required to attend courses remotely from their dorm rooms for several months. The capabilities of distance and hybrid learning mean that students can learn effectively from the comfort of their own homes, while reducing risk to their health and the health of others.

Now, schools are challenged to justify tuition cost structures. For families under financial pressure, this could save tuition cost, as they compare to other online options available. And it gives universities an opportunity to expand their overall student enrollment through innovative new offerings, while maintaining the in-person student experience. But this means that traditional funding mechanisms for higher education institutions are under significant pressure. 

As these new models based on hybrid learning take root, how can higher education institutions maintain existing academic standards, deliver degree and research programs, increase revenue, and transform their funding models in a post-pandemic world?

Reducing Costs While Maximizing Experiences

Administrators around the world are asking: