On the Future of For-Profit Higher Ed

Although private for-profit universities are hardly a new thing—the University of Phoenix, perhaps most famous for its online offerings, was actually founded in 1976—and have only grown with the advent of the internet, there is still a great deal of resistance from both student and government to this model of higher education. The public perception is that degrees from for-profit universities are worth less than those from public universities. Worse, there is fear that these institutions may go out of business, essentially making those degrees worthless—a fear which has prompted the legislature of Maryland to propose imposing an additional fee on for-profit school tuitions so there will be a pool of money to pay students back should the school they attend go under. 

Yet, there seems little question that for-profit universities are here to stay since these schools are at the forefront of innovation in education, particularly in online instruction. Public universities remain far behind even such stalwart institutions as banks and retail. Given that universities are supposed to be preparing the next generation of thinkers, business owners, and employees, universities should rather be at the forefront of innovation—and yet, they’re not. 

One potential solution is a private-public partnership. For example, Education Dive reports that “Grand Canyon University President Brian Mueller said he’s had a number of traditional nonprofit institution leaders approach him about partnering to offer GCU’s online courses to students at other institutions, which he says he considers a good business opportunity for GCU.” Further, GCU is trying to attain nonprofit status, wherein “the academic assets and business operations would transfer to a newly formed nonprofit arm, while the student affairs, human resources, and communications would remain functions of the for-profit entity.” 

As tuition costs at public universities continue to skyrocket, putting people in the position of having to rack up hundreds of thousands of dollars’ worth of debt, new financial models are increasingly in demand. Innovations across higher education, from finances to the delivery of educational content, will need to emerge in order to provide people with the kind of education they want. If neither public nor private universities can do it, you may rest assured that companies like Amazon will.

Follow us on social media for the latest updates in B2B!

Latest

VIctor Kippes discusses AI and event technology
AI is Revolutionizing Event Technology in Ways That Will Transform How Attendees Experience Future Events
November 28, 2023

AI has been gradually changing the landscape of event technology at a very rapid pace. In an industry where staying ahead of technological trends is crucial, AI’s impact on marketing and event management has become increasingly significant. As witnessed in the rise of account-based marketing and enhanced personalization, AI is effectively reshaping how events […]

Read More
leadership and social flow
Transforming Our Relationships with Leadership and Social Flow with Tribute Founder Andrew Horn
November 28, 2023

Can relationships be transformed through leadership and social flow? Navigating the intricate web of digital relationships can be a tricky proposition. Tuesdays with Morrisey’s Adam Morrisey uncovers the transformative impact of emotional recognition in the workplace with Andrew Horn, the mastermind behind Tribute. This podcast edition unravels the story of a platform redefining how […]

Read More
IoT security
IoT Security Solutions for the Safety of Connected Homes Requires Collaboration and Innovation
November 28, 2023

Since the introduction of smart devices, the world has increasingly become dominated by interconnected devices but IoT securitydemands are also growing. The “connected home” has shifted from what was once a futuristic concept to reality. With the global smart home market projected to reach $135.3 billion by 2025, the conversation around the security of these […]

Read More