Written by: Jeffrey J. Selingo
Published by: The Chronicle of Higher Education
MBA News Digest Comment: As you read this article, think GME programs and GME students. Yes, this article’s focus is on undergraduate programs. But most of the points made also apply to GME programs.
Extracted Content: The financial model that colleges have relied on since the baby boomers were in college, and then duct-taped together for much of the last decade, is fraying. I don’t agree with the doomsday scenarios predicting hundreds of colleges will go out of business. At the same time, the financial realities for many institutions clearly indicate they need to quickly rethink their market, their strategy, and maybe even their mission.
They need to better understand the students they can and should serve in the future. Too many campuses are trying to chase the kinds of traditional-age students they recruited a decade ago: affluent, well-prepared high-school graduates — of all racial and ethnic backgrounds — whose parents attended college. They think if they reach just a bit further into California, Texas, or Florida, they’ll find them.