The financial experts at Moody’s don’t think many positive things are in store for higher education over the next year or so. Is this a surprise? I think not, especially when taken alongside the news that the numbers of high school graduates are dwindling, professors are chafing at salary freezes, states are not increasing funding to universities, and the unemployment rate is shrinking, the latter depleting the ranks of potential college enrollees.
But to paraphrase Bugs Bunny, that’s not all, folks! Far too many private colleges want to believe it’s 1955 and their liberal arts programs are in great demand. They’re not. Further, conversations I’ve had with numerous smaller, lesser known schools indicate they are reluctant to add online programs and broaden their appeal to adult – nontraditional – students. Take the blinders off, folks, or you’ll fall off that cliff that you’re steadily approaching.
If that’s not enough bad news, there’s also the new GOP tax bills. Until we know exactly what the final bill will contain we all sleep uneasily. Maybe the party of President Trump will view the higher education establishment in a positive way. And maybe Betsy DeVos will be the best Secretary of Education in a hundred years. Time will tell, of course, but until then higher ed administrators, instructors, and trustees will continue to lose sleep over the current uncertainty. As well they should.