📌More colleges will close or merge
According to Bain & Company report, two-thirds of institutions must shift their business models to survive and thrive as many found themselves on shaky financial ground and solvent through the 2023 academic year.
What’s driving this? The decline in enrollment in higher education, disruptive alternatives to higher education, demographic declines, and the continued rise in spending by higher education.
📌Online learning will continue to have its moment, but a shakeout is beginning.
As enrollment in accredited higher education institutions as a whole has declined, enrollment in online programmes has continued to increase.
“No longer will it be enough to simply have an online program. Students will focus on value, which in many cases will result in a focus on price. Ultimately, colleges and universities won’t be able to price their online programs at the same rate as their brick-and-mortar ones and use them to prop up unsustainable campus operations.”
📌Big colleges and universities will get bigger
In the world of online learning, scale matters when the value is clear. It allows colleges to invest more in the learning design and student support in their programmes.
📌Apprenticeships will gain more traction outside of the trades
More individuals are now looking for meaningful alternatives to a good job than through traditional higher education that bears less risk.
Credit for insights: Michael B. Horn, Forbes https://bit.ly/3U14s4k