It’s no secret that cost control is a hot topic for colleges and universities across the country. Following the 2008 recession, most states have struggled with limited budgets and have had to make difficult decisions that, at times, have included reducing funding for education. In fact, 46 states spent less per student in 2016 than they did before the recession.
Who really suffers as a result of these funding cuts? Students. It’s simple math: As funding decreases, tuition often climbs. Specifically, since 2008, tuition has risen 33 percent for colleges and universities across the United States. Arizona’s tuition rates have increased the most, jumping 72 percent between 2008 and 2014.
But let’s face it: Institutions can only raise tuition fees so high before it begins to affect enrollment, which drops as fewer students are able to foot the bill. And because developing students is the basic premise of higher education, the situation seems pretty clear—colleges need a better way to manage costs.
GROWING BY REDUCING
In an ongoing attempt to balance budgets, colleges and universities have cut courses and reduced or eliminated certain student programs. Some universities have pushed individual departments to find ways to generate funds in order to stay afloat, while some may be surviving through endowments or grants. Others have had to increase their fee-based services, such as research or consulting.
Labor is, of course, one of the biggest costs for any university. To reduce these expenses, colleges have gone so far as to eliminate positions, suspend salary increases, implement furloughs, and enact hiring freezes.
While many of these initiatives have been effective, the world of higher education continues to seek ways to maintain (or even increase) the services they provide without raising tuition and other costs. Many in the industry have found that the answer to this quandary lies in technology.
To learn three tech hacks that help higher education pros cut costs while maintaining services — please read the full article on eCampusNews.