(from RealClear Education) The price of college is too expensive compared to the value of degree, according to nearly three quarters of college trustees in a recent survey. More than 90 percent said they believe that the business model of higher education needs to change. For such a change to happen, trustees must realize they have the power to make college more affordable.
Five concrete ideas:
- Trustees should not accept the conventional rationale that cost escalation is inevitable when it comes to tuition and fee increases.
- Trustees should take steps to learn how technology is being used in higher education. How can online and digital education lower costs?
- Rather than simply looking for more sources of revenue, board members should find opportunities to reduce cost through space utilization. Is another new building really needed?
- Before voting on or approving an institution’s budget, boards should seek input from as many stakeholders as possible, including students and taxpayers.
- Pursue compromise — or, at the very least, debate in good faith — around common goals of lowering costs while protecting quality.
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