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Private Sector College Update Sector in Transformation Future in Question 2011. Michael J. Cooney Chair, Wisconsin Educational Approval Board mcooney@workforce-com.com. 2011 – The Year of the Great Shake Up 2012 – The Year of the Great Shake Out. Current Issues: Tuition Cost

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Presentation Transcript
slide1

Private Sector College Update

Sector in Transformation

Future in Question

2011

Michael J. Cooney

Chair, Wisconsin Educational Approval Board

mcooney@workforce-com.com

slide2

2011 – The Year of the

Great Shake Up

2012 – The Year of the

Great Shake Out

slide3

Current Issues:

  • Tuition Cost
  • Quality of Education
  • Outcomes
  • Transfer of Credit
  • Validity of Programs
  • Default Rates
  • Regulatory Environment
  • Gainful Employment Rule
  • 90 / 10 Rule
  • Rigorous Accreditation Standards
  • Net Price Calculator
  • State Attorney’s General Investigations
  • Continued Congressional investigations
slide4

Validity of

Outcomes Reporting

slide5

The Post-Secondary Education Value Proposition

is under attack as never before

Go to college –

live the American Dream?

slide6

"Occupy the Ivory Tower”

"Too many [students] have paid too much and been taught little. They've been ripped off -- but not by the banks or the fat cats or any of the other stock villains so unwelcome these days in Zuccotti Park."

“The shortage of skills and knowledge necessary to compete in today’s global economy is a real and foundational danger to America's present dominance and future growth.”

ACTA American Council of Trustees and Alumni

slide7

College for All?

    • Good for the country?
    • Good for education?
    • Good for students?
    • Good for tax payers?
slide9

What is the primary function of

post-secondary education

?

slide10

What is the primary function of

post-secondary education?

Intellectual Development

“…by nurturing in students the academic and civic virtues,

and their related traits of character.”

Williams College

Workforce Development

“…helping students like you achieve career success —

not just for that first job out of college, but for a lifetime.”

Johnson & Wales University

slide11

The three purposes of the University:

To providesex for the students,

sports for the alumni,

and parking for the faculty.”

Clark Kerr

First Chancellor

University of California, Berkeley

1958-1967

slide13

The Recession

  • Changed Everything
    • Enrollment boom
    • Decline of public funding
    • Value shift
    • Strategy reassessment
slide14

Lack of Confidence in the future

An uncertainty driven squarely by consumers and small-businesses who are worried about their short-term financial prospects. And it's been going on since well before Obama took up residence in the White House.

These are enormous shifts," This kind of uncertainty -- a lack of consumer confidence -- can become a self-fulfilling prophecy. "We haven't seen stuff like this since the 1930s."

Moebs Services founder & Chairman Mike Moebs

slide15

Lack of Confidence in Education

“People are just frozen or deferring, delaying decisions to go to school. The Average person in the U.S. has become much more risk-averse and cautious when it comes to spending or committing to anything. It’s unrealistic for us to think that education would be immune from this.”

—Daniel Hamburger, CEO DeVry Inc.

slide16

For-Profit Colleges'

Most Recent Quarterly Enrollment and Revenue,

2011 vs. 2010 Institution

% Change in

New Student Enrollment in Revenue

American Public University System 53% 35%

Apollo Group -34% -11%

Bridgepoint Education 27% 8%

Capella Education -36% -3%

Career Education Corp. -22% -18%

Corinthian Colleges -23% -17%

DeVry Inc. -12% -1%

Education Management Corp. 2% 2%

Grand Canyon Education, Inc. n/a 10%

ITT Educational Services, Inc. -14% -10%

Kaplan Higher Education -30% -33%

Strayer Education, Inc. -15% -8%

/

Source: Stifel Nicolaus and SEC filings; most recent fiscal quarter

slide17

Sector in Transformation:

From voracious enrollment growth to stable, modest growth

  • Down sizing/slowing enrollment
  • Selectivity
  • Free trial periods
  • Commitment to Valid Outcomes
slide20

Future Vision

“The next generation of education comes down to personalized success plans – digital portfolios.”

“The evidence of competency and certification will come from valid, real-world accomplishments rather than simply a degree…”

Rob Curtin

Microsoft – U.S. Education

slide21

Where the jobs are:

Employment qualifications have become a process of seeking the perfect (check off all the boxes) employee.

Employers have to believe in the potential of an employee..

Eric Winegardner

Monster Worldwide

slide22

Validation of Outcomes

Is higher education worth it?

How do we know?

Are metrics enough?

The true test of an education is the five year

graduate satisfaction rate.

Johnson & Wales University

slide23

Validation of Outcomes

Is higher education worth it?

Service Learning-serves everyone.

The job search / career development planning model

puts the responsibility on the graduate.

The “placement” model does serve either the

Graduate or the institution.

slide24

Validation of Outcomes

Is higher education worth it?

Career Self Reliance

for a dramatically changing economy