College Scorecard Receives an Update
The Department of Education recently updated information on the College Scorecard, a consumer tool aimed at helping students research colleges and universities. The update includes a new feature that allows data from up to 10 colleges and universities to be compared. More on the College Scorecard update is available on the Inside Higher Ed website.
Former College President Highlights Importance of Higher Education
As doubts grow among Americans over the value of a degree, former liberal arts college president Brian Mitchell believes higher education is essential in creating productive citizens. During a session at the National Association of College and University Business Officers’ annual meeting last week, Mitchell said the case should be made to promote college as a means to educate and prepare students for career success and post-secondary education. He noted that higher education should help students become articulate and collaborative, as well as communicate and apply quantitative methods and technology. In Mitchell’s opinion, these are the qualities employers want most.. Read More.
SACUBO Meeting Keynote Speaker Discusses Issues Facing Higher Education
Last month, Jim Ratchford , Industry Leader of Cherry Bekaert’s Education Industry Group , attended the Southern Association of College and University Business Officers’ (“SACUBO”) Annual Meeting. While at the meeting Ratchford listened to the keynote speech from Scott Jaschik of Inside Higher Education. Mr. Jaschik shared with attendees various issues currently facing higher education, some of which included the following: The Trump administration is proposing cuts to education programs, including research and work study. International students are choosing higher institutions in countries other than the U.S. Forty (40) percent of U.S. colleges and universities are reporting declines in international applications. Everyone realizes that these students are. Read More.
University of Louisville Foundation Engaging in Wasteful Spending
The University of Louisville Foundation has released a 135-page report outlining a series of wasteful spending practices. According to the independent investigating firm that authored the report, foundation officers repeatedly spent money on unbudgeted expenses and unapproved actions. Board directors were often kept in the dark on such actions, which prevented them from making informed financial decisions. Further, the report says that the foundation combined cash reserves, which made funding sources for certain transactions difficult to identify. J. David Grissom, chairman of the University of Louisville’s Board of Trustees, said legal action has not been ruled out, but he expects that. Read More.
University of Wisconsin Reaches Midpoint of Naming Agreement
With the University of Wisconsin Madison at the halfway point of its 20-year deal to keep the name of its business school intact, campus administrators and donors are reflecting on the agreement. Thoughts have consisted of the upside of the deal and what its future may hold. Most recently, there have been talks on whether donations can be used to delay the ending of the deal. Such talks have opened a larger discussion about college fundraising efforts, naming rights, and the impact on a university’s identity. The discussion has also garnered interest from donors, who consider the Wisconsin naming deal. Read More.
College Tuition Discount Rate Close to 50 Percent
The National Association of College and University Business Officers’ (“NACUBO”) latest study shows that tuition discounts at colleges and universities are on the rise again. Due to low tuition revenue and weak enrollment numbers, the average tuition discount rate in 2016-17 for a first-time, full-time student increased to 49.1 percent (48 percent for previous year). Counting all undergraduates, the average rate increased to 44.2 percent (43 percent for previous year), marking new record highs for the annual study. NACUBO’s Ken Redd contributes higher financial needs since the Great Recession and growing competition for new students due to a decreasing number. Read More.