Colleges and universities are determined to avoid drastic change, despite seemingly turbulent times. Most institutions are finding ways to make improvements within their current models, according to a panel of presidents from tuition-dependent universities and colleges.
“Universities and colleges today are faced with the challenge of preparing students for a rapidly evolving global economy, while at the same time doing so in a cost effective way for our students,” said David E. Van Zandt, president of The New School, in a press release leading up to a panel discussion on Dec. 3 called The Future of Higher Education, which he moderated.
The first question Van Zandt asked was whether or not the current model of higher education needs to be thrown out and recreated.
“Imagine what would happen if Harvard said, ‘We are going out of business, and we are going to have a new Harvard,’” said panelist Debora Spar, president of Barnard College. According to Spar, there are brands that exist in diplomas, and alumni carry those brands. Alumni may not stand for such drastic change. “The model is not going to go away,” said Spar.
The New School in New York hosted the event, where four presidents, each from a different tuition-dependent school, discussed a wide range of current happenings in higher education, their thoughts, and how they are responding. The event was streamed live.
Reconsidering Structure
“There is a lot in the press—every day you see something,” said Van Zandt, referring to the news reports he has read on topics such as the costs of higher education, arguments on why to even bother with college, or concerns that college is too expensive and behind the times.
According to Van Zandt, if drastic cuts were made in tuition, then the tuition-dependent institutions would be entirely different from what they are now. The other option, he said, is to get focused on a small number of things that they do well—and do those only—rather than trying to be multi-appealing.
Panelist Stephen J. Friedman, president of Pace University and former commissioner of the U.S. Securities and Exchange Commission, said that there are great savings to be found through using facilities more effectively. Institutions could add more students per class, for example, or take a European approach and have one building focused solely on academics, where student life, extra activities, and sports would become a job for the campus community.
It is a challenge to make money in education, because as Friedman said, while businesses increase revenue through productivity and selling more products, education institutions cannot do that.
“Our analog of that is admitting more students,” Friedman said, and “there are simply limits on every institution’s ability to do that,” such as demographics or the character of the institution. Van Zandt agreed, but added that prices are being raised instead.
Not far from the coast of the Gulf of Mexico, Alabama has been having trouble for years with a state Prepaid Affordable College Tuition (PACT) Program. In many ways, Alabama’s situation is reflective of the nation’s trouble in higher education: high debt, a bad economy, and rising prices.
