University Business February 2018 - 30

SPONSORED WEB SEMINAR DIGEST

Changing Higher
Education Funding and
Transparency Models
Using technology to drive success

A University Business Web Seminar Digest * Originally presented on December 12, 2017
How can institutions embrace transparency and flexibility around changing models of revenue and cost
mix, student success and graduation rates? This web seminar outlined some insights into how to meet student, institutional, system and/or political goals in the changing world of higher education. Whether your
challenges are within a single institution or across a statewide system, there are a variety of ways in which
modern technology can support your journey for future success.

Sherry Amos: Looking at the confluence of trends
across higher education leaders, the political environment and changing expectations among constituents, let's explore what we see over the next five to 10
years for higher education as an industry. These are
trends that will impact every level of strategic planning for institutions large and small, public or private, from boardrooms to executive leadership and
to faculty and students they serve.
There was a particularly interesting meeting that
the governor of Kentucky had with the postsecondary education leadership last year. To paraphrase, the
governor said, "God bless the student who wants to
major in interpretive dance, but we don't have jobs
that require that kind of skill." He went on to further
suggest that each of the state-related university or
educational organizations go back to their campus,
get serious, and eliminate any programs that are not
contributing to the economy of good, paying jobs
within the state-get rid of anything that is not helping to produce the 21st century workforce.
As you can imagine, this set off quite a bit of consternation-particularly among the academic community-about politicians interfering with curriculum
decisions. But this is just one example of the political

environment that many colleges and universities are
operating in. It directly impacts public institutions,
but does spill over to private institutions, this idea
to do more to connect the cost of education with the
quality of education and then with how the student
eventually turns that into a career or livelihood.
There are other good examples for how these
trends are developing into actionable transparency
metrics and changing funding models. Florida was
one of the first states that implemented performancebased funding at a fairly detailed level. The Commonwealth of Virginia is trying to triangulate how
students who are graduating in certain topic areas or
with certain degrees are actually translating into the
kind of jobs that are available within the state.
All of these are examples of data-driven decisionmaking, to show what's happening between the output of the educational system and the economic viability of the local or regional capability to offer jobs
and wages.
Thinking about these strategic issues, here is what
we're tracking. Millennials are the largest generational cohort ever, so we're going to see a real growth
spurt in demand on the educational systems, both at
the K12 and the college and university levels. Who

View, comment, share this story online at UBmag.me/tech


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Table of Contents for the Digital Edition of University Business February 2018

University Business February 2018 - Cover1
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