dr. hartman's opening address: great american higher ed highway
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Opening address at 2014 Annual Eduventures Members MeetingTRANSCRIPT
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Higher Educa-on Highway: Choosing Your Exit Dr. Kenneth E. Hartman
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“One has to wonder if American higher educa-on is the proverbial frog in a slowly warming pot of water, not realizing that it’s about to be boiled alive.”
…debt-‐service payments had risen 86 percent from 2002 to 2010
…expanding burden of tui-on debt is “partly driven by the indebtedness universi-es have taken on.”
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“Nearly half of the na-on's colleges and universi-es are no longer genera-ng enough tui-on revenue to keep pace with infla-on.”
Wall Street Journal
11/22/13
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"According to Ms. Fitzgerald, one common factor in nearly all of the recent downgrades by Moody's has less to do with finances and more to do with leadership. "Weak governance and weak management" play a key role, she said, par-cularly in this "disrup-ve period" when colleges face moun-ng demands to control costs, improve quality, and adapt to new academic models."
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“By 1999, or sooner, all collegiate ins-tu-ons are expected to be online…college-‐bound students can now tap into vast amounts of insighXul informa-on that was not available or hard to find in the past” “You will soon have access to ver-cal browsers that go out on the Net to find per-nent and specialized college informa-on for you…”
Published in 1996
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NACAC Journal January, 1997
Published in 1997
“Technology can change the way teachers teach and students learn, and it’s beginning to change how colleges admit and recruit high school seniors”
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“Economic and demographic shi^s in the United State are transforming higher educa-on. With substan-al reduc-ons in state funding, increasing campus energy and opera-onal costs, endowments genera-ng reduced returns, and a na-onal economic readjustment of unprecedented propor-ons, higher educa-on must re-‐examine and reposi-on itself to meet new and emerging challenges.”
Published in 2009
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“Future economic and poli-cal circumstances will fundamentally change the role of a college president from one of building more buildings and growing endowments, to one as lead advocate for the fundamental transforma-on of the ins-tu-on’s core academic product”
Published in 2013
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“Future economic and poli-cal circumstances will fundamentally change the role of a college president from one of building more buildings and growing endowments, to one as lead advocate for the fundamental transforma-on of the ins-tu-on’s core academic product”
Published in 2013
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Prospects Aged 18-‐24: PreQy solid “campus” interest; growing enthusiasm for blended, but waning for wholly/majority online
50%
19%
11%
11% 9%
48%
24%
19%
5% 5%
0%
10%
20%
30%
40%
50%
60%
Campus Majority Campus Campus/Online Balance
Majority Online Online
2006
2013
Delivery Mode Preference of 18-‐24 Year Old Prospects, comparison of 2006 and 2013
Source: Eduventures consumer surveys in 2006 (n= 2.033) and 2013 (n= 3,080). Consumers interested in going/returning to school in the next three years
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Prospects Aged 25-‐34: Enthusiasm for campus and different blends, but waning for wholly/majority online
23%
29%
12%
16% 19%
29%
21%
28%
11% 11%
0%
5%
10%
15%
20%
25%
30%
35%
Campus Majority Campus Campus/Online Balance
Majority Online Online
2006
2013
Delivery Mode Preference of 25-‐34 Year Old Prospects, comparison of 2006 and 2013
Source: Eduventures consumer surveys in 2006 (n= 2.033) and 2013 (n= 3,080). Consumers interested in going/returning to school in the next three years
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Transformacve pedagogy, compelling outcomes, and substancal cost reduccons.
Meaningful, impacdul, engaging, and
adapcve learning.
Maximum mobility of content.
Ongoing career and networking opportunices within courses and programs.
Higher expectacons of faculty and support
services.
Online is no longer a differencator.
Throwing vast amounts of marking money is not a opcon.
Savvier consumers have many opcons.
Talking PowerPoint slides are no longer
cugng edge.
Student Expectacons Online Teaching and Learning
Today Tomorrow
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Transformacve pedagogy, compelling outcomes, and substancal cost reduccons.
Meaningful, impacdul, engaging, and
adapcve learning.
Maximum mobility of content.
Ongoing career and networking opportunices within courses and programs.
Higher expectacons of faculty and support
services.
Online is no longer a differencator.
Throwing vast amounts of marking money is not a opcon.
Savvier consumers have many opcons.
Talking PowerPoint slides are no longer
cugng edge.
Student Expectacons Online Teaching and Learning
Today Tomorrow
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Is online higher educacon like a 1980s cell phone?
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© 2014 Eduventures, Inc.
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Professors at Saint Joseph's University are so distrusXul of their administra-on that they're running out of administrators to take no confidence votes in.
“Now universi-es in the Pennsylvania State System of Higher Educa-on are looking to end programs, lay off dozens of full-‐-me faculty members, and cut -es with numerous adjuncts and more staffers.”
“No such explosion of debt has ever escaped a day of reckoning and no such monetary surge has ever had a happy ending.”
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Start with an open and honest discussion
Enhanced retencon efforts
New and innovacve paths to degrees
Bold cost reduccons
Teaching policies that lead to greater faculty produccvity
Transformacve pedagogy, compelling outcomes, and substancal reduccon of instrucconal cost
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“There’s shock, disbelief, confusion – we’re really just s-ll reeling from this,” said a faculty member who did not want to be named, ci-ng concerns about job security. “I don’t know how to express to you, in terms of informa-on, how lille we got [about the cuts].”
“Student-‐loan balances increase $31 billion to $1.1 trillion, maintaining it s place as the fastest growing debt category."
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This exit is harder – you’ll need to explain why you intenconally missed exit #1
Fewer opcons
Significant capital infusion needed
Need to seek out external resources and strategic partnerships.
Consider non-‐profit and for-‐profit opportunices.
Joint ventures
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“….one of the most controversial bills, which would require closing four-‐year colleges that do not achieve a six-‐year gradua-on rate of at least 50 percent.”
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There’s no cavalry coming (think Detroit)
Merger may be your best opcon
Bond holders will demand restructuring
Significant loss of control
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Thank you!
Dr. Kenneth E. Hartman Senior Fellow & Principal Analyst [email protected]
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