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Oct27Written by:Nathan Greeno
10/27/2008 7:17 AM  Is your college or university recession proof? The answer to that question is much like that of an investment manager’s balanced portfolio question. One of the best ways to ride out the changing waves of enrollment projections due to economic hardship is to be sure to target the online adult population. Let me share with you some recent research.
There is an inverse relationship between the economy and adult enrollments. It has been clearly documented since the late 1980’s. As the economy struggles, more adults return to school and the total amount of credit hours earned by them increases. When the economy is doing well, fewer adults feel the urgency to return. With the current economic projections, that is not the case today. For the foreseeable future, adults will be returning to school in record numbers. Having a significant recession strategy that includes a focus on adults is key to a balanced enrollment portfolio and possibly to your institutional success.
As with any strategy, there are several key drivers. Consider the following. Adults:
* Represent 50% of higher education enrollments as of 2010
* Return to college at record rates during any recession
* Look for online programs as a means not only to cope with busy lives, but also to save on the cost of transportation and other indirect expenses
* Choose accelerated programs since they provide a quicker opportunity to enjoy the resulting increased earning power of education-generated salary increases and promotions
As with any strategy, one of the keys is agility and market response time. For most institutions, the ability to respond quickly to a new market trend is very slow. Developing both accelerated and online course conversions as well as having the marketing expertise to successfully get a foothold in the marketplace is a rare occurrence. Quite frankly, a lot of frustration results when a great strategy takes too long to implement and the yield is poor.
Just like corporate America, higher education is now realizing that partnerships with external organizations. which have the skills and expertise it is lacking, can be a great alternative. For many of these institutions, it is mission critical to do so and even life-saving.
There is a silver lining to this yet “un-categorized recession” we are now facing. It is the ability for higher education to provide a future and a hope to millions of adults desiring to improve their lives. Your institution can be a part of that success.
Education Strategy partners with colleges and universities across the country providing both market-ready curriculum (accelerated/online) and the expertise in consulting (from Financial Aid to Recruitment to Faculty Training) that leads to a rapid and successful deployment of adult education to this new breed of learner.
Isn’t it time to pick up the phone or send an email to begin the investigation of a partnership? We are prepared to partner and serve you much like we have served nearly 100 other institutions of higher education over the past 20 years.
~Nathan
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