Last year the higher education sector took a major downturn in enrollment and revenue levels. In spring, overall enrollment was down 4.5% . This steep downturn is correlated with the pandemic; however, over the last decade, enrollment numbers are trending down even as the population grows.
This phenomenon is due to the fact that students are valuing degree and higher education offerings less due to rising prices of tuition. The Strads Education Network recently reported eye-opening data about the public view of higher education offerings which support the fact that declines will continue in the future. Since 2019, the percent of adult learners who reported education was worth the cost dropped from 77% to 59%. The fact that 64% compared to 89% of learners believe education will get them a good job is another indicator that the perceived value of higher education is dropping. The Strada Education Network estimates that enrollment decline will continue for at least another decade .
To counter these perceptions and beat the odds of these estimates, higher education needs to create new value propositions for its students and attract new learners. A "relevance renaissance" must occur. This entails moving away from the degree-only traditions in higher education and offering other options like certificate and micro-course programs. Also, universities must invest in growth drivers and scalable solutions to bring in more tuition and improve the quality of educational offerings. Cost reduction strategies should be considered, like offering online courses or outsourcing costly platforms and course creation efforts. Lastly, higher education must design relevant and customer-centric options. Universities must change to meet the current needs of their students and alumni. If universities hope to attract students, they must break away from the slow-to-adapt model of the past and invest in strategies that can help curriculum pivot quickly to meets the needs of transforming industries that need learners upskilled on advanced technologies and practices .
How Can Your Universities Launch an Online Learning Platform to Add Value Easily and Quickly?
Adding value to your university's offerings is the best way to stand out from competitors and attract students to your school. The way to do this is by providing an educational experience that benefits all types of learners. There are many revenue streams that your university can provide to add value.
Innovative options for higher education institutions to consider include offering:
These innovative revenue streams can be easily provided using an online learning platform and course content provider. By partnering with a company to curate these offerings, your university can start providing value to the community within 30 days. This is cost-effective and efficient because in-house platforms and course creation can be time-consuming and labor-intensive. This solution is simple and easy to implement and upkeep.
When searching for a partner, look for an online learning platform with these key features:
If your university invests in an online learning platform and expands its offerings, growth, and revenue will follow.
Amesite Offers a Single, Easy to Use, Scalable Solution
Launch an online learning platform to add value, attract students and increase revenue!
Amesite delivers a high-tech AI-enabled online learning platform, creates scalable, custom-branded learning environments, and curates content using experts in the industry that follow best practices, meeting your university's unique needs. A host of self-paced, highly engaging, and intuitive courses can be ready for your university in as little as 30 days.
Amesite can provide your university with numerous revenue streams using turnkey, intuitive micro-credentials, summer camps, and alumni upskilling programs, as well as traditional online course curriculums. All of which require no training to use and allow your university to take full advantage of the immediate needs that these programs satisfy. Amesite is a budget-conscious choice because the is no investment in IT staff or training required to use the platform.
Amesite's system uses established social media formats to help learners access the content in a familiar setting. These mechanisms streamline the learning process. Amesite's platform also gives users the experience of learning with a community, a valuable addition to the online education experience. Engaging features like video chat and live streaming connect instructors and other students virtually to enhance and solidify learning. Amesite has an outstanding and industry-leading 98% retention rate.
A partnership with Amesite is an investment into your university's future. Request a Demo!
 Chronical. Feb. 5, 2021. How Much Has Covid Cost Colleges? $183 Billion. https://www.chronicle.com/article/how-to-fight-covids-financial-crush Accessed May 20, 2021.
[2-3] Forbes. Sept. 25, 2020. Wake Up Higher Education. The Degree Is On The Decline. https://www.forbes.com/sites/brandonbusteed/2020/09/25/wake-up-higher-education-the-degree-is-on-the-decline/?sh=2f377a2f7ecb Accessed May 20, 2021.