College Enrollment Crisis?
A new report by audit, tax and advisory firm KPMG indicates growing concern over US colleges’ ability to maintain enrollment at current levels. Their survey of 120 higher education leaders from both public and private institutions shows a double digit increase in concern about enrollment levels (85% saying they’re “very” or “somewhat” concerned, up 14% since 2013).
With the cost of further education rising and families increasingly examining the potential return on investment, higher education institutions are facing the reality of competing with peer institutions for an increasingly cost-conscious pool of potential recruits.
Will enrollment concerns make colleges look online and overseas? Surveyed professionals are showing a growing interest in recruiting international students to bolster recruitment numbers and revenue, with the majority of private institutions (51%) and a significant number of public institutions (31%) indicating that this increasingly features in their consideration set.
Another way institutions can address a looming enrollment crisis is via hybrid and virtual learning models (48% surveyed claim to be considering this). Despite the traditional emphasis on the “college campus experience”, students who have grown up in an increasingly sophisticated internet age may be more ready to accept, and even seek out, higher education delivered primarily by online means. Online learning may also look like an increasingly attractive option to students potentially priced out of the traditional college model.
At Kiosk, we have deep and relevant experience working with higher ed institutions to create effective enrollment strategies. Our recommendations are data-driven, creative and continually evolving. That’s because the recruitment landscape is fluid and challenging to navigate. Kiosk has the marketing vision in the category to know what has been, what is, and what’s coming. We partner with institutions at all stages of launching or re-evaluating their recruitment strategies. Together we can make the process less daunting and more successful.
You can see the full KPMG report here.