BY BRIAN C. MITCHELL In our book, How to Run a College: A Practical Guide for Trustees, Faculty, Administrators and Policymakers, Dr. Joey King and I argue that colleges project themselves to fail should they continue to use their current operating models. There is a point where the lines cross for net tuition revenue and…
BY BRIAN C. MITCHELL At the most expensive U.S. colleges and universities, the advertised price now exceeds $70,000 per annum although most institutions are significantly below this level. Financial aid lowers the actual cost of attendance for many students. Still, American families are less willing to shoulder the expected family contributions that make a college…
BY BRIAN C. MITCHELL American colleges and universities operate on an unsustainable financial model. They are heavily tuition-dependent at all but the best-endowed institutions. In fact, of the more than 4,000 non-profit colleges and universities, the number that have the flexibility to rely on revenue, whether from endowment drawdowns or other sources, may be less…
BY BRIAN C. MITCHELL One of the more disturbing trends in American higher education is the decreasing tenure of senior administrators, especially college and university presidents. Most research finds that presidents serve on average six or seven years. Occasionally, often at faith-based institutions, for instance, the tenure is considerably longer. Hiring Requirements Vary Across Institutions…
BY BRIAN C. MITCHELL In How to Run a College: A Practical Guide for Trustees, Faculty, Administrators and Policymakers, Dr. Joey King and I make a case that colleges must begin to reimagine themselves by rethinking their operating models. Reduce Dependence on Tuition Revenue It no longer makes sense to depend so heavily on tuition…
BY BRIAN C. MITCHELL In our new book, How to Run a College: A Practical Guide for Trustees, Faculty, Administrators and Policymakers, Dr. W. Joseph King and I assert that the current operating model by which colleges meet their expenses no longer works. This financial crisis is best viewed through one revealing statistic – the…
BY BRIAN C. MITCHELL There are wide variations in the levels of financial support that alumni offer to their alma maters. While alumni giving rates at a few select colleges and universities may approach 60% of the identifiable alumni, most institutions have substantially lower levels. It’s a persistent source of discussion in budget conversations on…
BY BRIAN C. MITCHELL When you live in cities like Boston and work in higher education, it’s impossible not to feel simultaneously a tremendous sense of history and some trepidation about the future. The broad expanse of the Charles River outside my windows offers a sweeping, encompassing view of wealthy universities with 400-year old traditions,…
BY BRIAN C. MITCHELL The Council of Independent Colleges (CIC), a Washington-based private college presidents association serving more than 700 colleges, universities, and organizations, recently released an important report on what private college presidents are thinking. Chris Quintana described its implications in The Chronicle of Higher Education, “What’s on the Mind of the Private-College President?…
BY BRIAN C. MITCHELL In the cycle of each academic year, two events come together on college campuses to demonstrate the continuity of tradition, business, and the calendar. The first is “move in” day. It’s one of my favorite moments, exceeded only by Commencement and perhaps the emotion that comes during an unexpected win in…