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.
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.
College Endowments Continue to Struggle
College endowments last year posted their worst returns since the 2008 financial crisis. A recent National Association of College and University Business survey revealed that endowments averaged -1.9 percent for the 2016 fiscal year. The drop marks another decline for colleges and universities, which had a return of only 2.4 percent during the 2015 fiscal year. More on the 2016 fiscal year college endowment numbers is available on Inside Higher Ed.
The Election’s Impact on Higher Education
Now that the 2016 presidential election is over, many higher education experts are wondering how a new administration and Congress will affect colleges and universities. Liz Clark, the director of federal affairs at the National Association of College and University Business Officers (“NACUBO”), recently shared her thoughts on what legislation could be enacted. Some of Clark’s insights discussed who the next Secretary of Education could be, how NACUBO is preparing for proposed higher education changes, and whether there will be changes to student financial aid. More on Clark’s election observations is available on the NACUBO website.
Tuition Discount Rates Reach Record High
According to the latest National Association of College and University Business Officers (“NACUBO”) Tuition Discounting Study (“TDS”), tuition discount rates last year reached an all-time high. Results from the 2015 TDS reveal that the average institutional tuition discount rate for first-time, full-time freshmen increased to 48.6 percent in 2015-16. Considering all 2015-16 undergraduates, the rate rose to 42.5 percent – another record high. The rise in institutional discount rates is being contributed in part to more students receiving grants. More on the 2015 Tuition Discounting Study is available on the NACUBO website.
NACUBO Members Favor Nonprofit Reporting Requirement Update
As the Financial Accounting Standards Board (“FASB”) wraps up the first part of its nonprofit financial reporting project, members of the National Association of College and University Business Officers said the project’s second phase could help improve the way their operations are reported. During a meeting last month with the FASB, college finance officers voiced their intent to further efforts they began a decade ago to disclose more details regarding endowments, capital spending, operating budgets and fundraising. The FASB has no plans to begin the project’s second phase until an extensive review of its standard-setting agenda has been completed. The. Read More.