According to a recently released Moody’s Investor Service report, closure rates for small colleges and universities are expected to triple in the coming years. In addition, they predict increases in mergers and alliances for publicly funded institutions. All related to declining enrollment and revenue.
This is attributed to “an iron triangle of doom”:
1) Fewer students out there
2) Fewer are attending traditional college
3) It costs more to enroll them; in regards to discounts, financial aid, and cost
Business as usual will not work. Creating a culture of service excellence is a powerful means to combat the “triangle of doom”. By retaining a larger portion of the students enrolled at your institution, you need not be as dependent on a disappearing endless supply of new applicants.