Everyone is busy, but we need to stay on top of our industry. With this monthly blog post, I hope we’ll make the job of keeping up a bit easier for you. We’ll bring you a round-up of the latest must-read articles and reports in higher ed – important pieces that ranked high in reads and shares through social media and also via the Enrollment Rx LinkedIn page.
In our first installation, the trend is clear, yet not surprising: enrollment is dropping yet the costs associated with bringing new students on board is not dropping. Blame it on the common app, or more students applying to more schools, etc. – regardless of the reason, higher ed institutions are feeling the pressure.
Some blame the Common App because it’s “driving massive growth in application numbers, far outstripping the increase in actual students,” according to the Quartz article below. From 2004-2013, applications have increased a staggering 70% with a mere 5% increase in high school graduates to match. Like you, we’re watching this closely and want to be a part of the solution.
And don’t miss the report on how CRM systems are shaping higher ed. According to the study, 80% of respondents saw increased practice efficiency with the use of CRMs, but reported that their institution is not maximizing the use of it. Where do you fall in the mix? Are you making the most of your CRM?
1. Americans Apply to So Many Schools that It’s Messing Up College Admissions (Quartz, Atlantic Media Company / Max Nisen)
“According to the report, almost a fifth of colleges had yield rates under 20%… It’s harder to project how many students might attend, to have a full entering class, to budget effectively, and to keep tuition income steady in a time when many schools are under financial pressure.”
2. More Pressure Than Ever: The 2014 Survey of College and University Admissions Directors (Inside Higher Ed /Scott Jaschik)
“Last year was a difficult one for college admissions – with institutions reporting more and more difficulty filling their classes. Things aren’t any better and they may be a little worse, according to the 2014 Inside Higher Ed Survey of College and University Admissions Directors. Slightly fewer colleges reported meeting their enrollment targets by May 1, more reported anxiety about meeting their targets, and more reported recruiting those who had already committed to other institutions.”
3. Enrollment in U.S. Colleges Declines for a Second Year (Bloomberg / John Lauerman)
4. Top 20 Countries for International Students — with interactive map (The Guardian)
5. How CRMs Are Shaping Higher Education (Higher Ed Live / Ashley Budd)
“The report reveals two important trends. First, colleges are under increasing pressure to support the diverse needs of students. CRM tools can support an institution’s understanding of student enrollment choices, retention, and overall achievement. Second, colleges are under increasing pressure from an economic standpoint to leverage data. As a result, technologies that manage this data in a way that offers business practice efficiencies should be high on radar of institutions’ senior leadership, especially as these technologies relate to day-to-day business practices, policies and staffing.”
6. Is the College Admissions Bubble about to Burst? (U.S. News & World Report / Lindsey Cook)
“The rising financial and psychological cost of college, coupled with declining benefits and the student loan crisis make for a bubble in college admissions. And some point to the slower rise of college enrollment as a sign that the cracks are beginning to show.”
“Enrollment in U.S. colleges and universities declined in 2013 for the second straight year as registrations in two-year colleges tumbled. College enrollment dropped 2.3% to 19.5 million, a decline of 463,000, according to a U.S. Census Bureau report [hyperlink: https://www.census.gov/newsroom/press-releases/2014/cb14-177.html#] … Enrollment in two-year colleges fell 9.6% to 5.27 million students, while four-year college enrollment rose 1.2%, according to the report.”