Today’s growing student debt reflects growing higher education demand, shortage of supply, price increases, a few unscrupulous players who leverage the 90% of tuition federal student debt rule for investor profits, and cut-backs in state support of traditional campuses. The solution is competition from public providers at in-state pricing that can grow to serve the needs of millions of adult students.
A few trends that took hold in 2011 are very interesting. First, the emergence of public/private partnerships – like Arizona State University with Pearson/eCollege and Educating Sales and Marketing. In this example, a Carnegie 1 research campus publicly announced a goal of growing to 100,000 distance students and using private money and methods to manage the marketing, recruiting retention, and business challenges.
One of my ‘truths’ from 35 years of management, entrepreneurship, and leadership is that the line between good and bad decision makers is much narrower than most people think. In fact, business decisions are only about 50 percent likely to be right. Even great decision makers are only right about 60 percent of the time. So, what really drives the difference between great business people and average or bad business people?
I was very sad to read that Westwood College had its accreditation suspended. As Colorado State University enters the online and distance market more aggressively, I take time to remind my team that these universities did us a great service by investing billions in the development of the market, teaching capacity, technology, and methodologies.