Date: 5/14/2010
Dear Reader:
Whew!
That was a sentiment many of our clients expressed right around May 3, when bushels of deposits arrived at their doorsteps with May 1 (or April 30) postmarks. For many others, the sigh of relief is yet to be exhaled and there’s much work yet to be done to complete the class of 2014 at whatever size that class will be. It’s too obvious to require elaboration that the enrollment profession has been stressful these last two years, but will the future be any better?
It is easy to suggest that the future is only going to be harder. One can argue that private higher education is simply too expensive, even as families are both less willing and less able to muster the resources to pay the cost.
But as challenging as this new reality may be, the opportunities to make a difference in the future of your institution couldn’t be more abundant. How well colleges focus their resources on what matters, differentiate their identities from the rest of the pack, and innovate in pricing strategies will determine their vitality and perhaps their survival.
In March, I sat down to talk with Jamie Wolfe of NorthStar Total Higher Education about one aspect of the new reality: family borrowing for education. In an environment where home equity has evaporated and alternative loans are more difficult to acquire, what can colleges do to help families access funds for college?
In this 5-minute video, Jamie describes for us what to expect in the transition to direct lending and how other approaches to financing higher education may emerge. I hope it will help you think about new strategies for affordability at your institution. I also look forward to continuing conversations on this topic at Summer Seminar, at our NACAC reception, and on campus this fall.
Carpe diem!
Best regards,
Nathan Mueller
