Capitalizing on College: How Higher Education Went from Mission Driven to Margin Obsessed
Capitalizing on College: How Higher Education Went from Mission Driven to Margin Obsessed
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Abstract
Capitalizing on College shows how tuition-driven colleges and universities have been forced to innovate and adopt market-driven financial strategies. These institutions have long-standing commitments to offer access and opportunity to marginalized students, but the promise of improved educational outcomes stemming from federal policy changes aimed at increasing market competition has not materialized. Instead, because of demographic shifts and the privatization of higher education, these colleges had to adopt new strategies to attract students from uncharted peripheral markets to offset losses stemming from their “legitimizing” residential campus experience. Capitalizing on College reveals how three of the strategies—growing a traditional endowment, pioneering a periphery market, and even creating a network of multiple markets—were initially successful, but ultimately fell short of raising enough revenue to support the operation of a residential campus. Only a fourth “accelerated” strategy of going to scale raised the necessary funds—but undercut the schools’ mission by leading them to view students as dollars. Through a vivid and compelling narrative that weaves together candid interviews with over 150 university leaders, Capitalizing on College reveals the untold story of “the missing middle”—what market competition has brought on higher education from the inside vantage point of the colleges themselves. It shows how the unanticipated consequences of federal policy changes have ultimately distorted the values of mission-driven schools. Capitalizing on College offers a timely and fascinating behind-the-scenes look at the changes shaking up higher education and what the future holds for colleges and universities in this new financial climate.
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Front Matter
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Introduction: “We Have to Grow, or We’re Going to Die”
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1
The Traditional Strategy: “You Come . . . to a Tradition”
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2
The Pioneer Strategy: “We Build With Adult Money”
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3
The Network Strategy: “In Growth We Trust”
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4
The Accelerated Strategy: “More Money Than God”
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A Sector of Schools: “We’re Here to Make Money”
- Outtakes: “These Are Things I Wish I Could Tell Somebody Someday”
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End Matter
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