Online Distance Education Learning

The emergence of the Internet as a worldwide communications network has revolutionized the concept of distance learning. Prior to the Internet becoming ubiquitous, distance education was being provided mainly through correspondence courses and video media. However, using the Internet, it has become possible for a student to study online from any location and at any convenient time.

With the adoption of online learning by universities as an important media for imparting distance education, the quality of the online courses offered has become comparable to traditional classroom courses. Courses on topics across a broad spectrum of disciplines have become available on demand and accessible from any location. These factors have also contributed to the increasing popularity of online distance education.

Earning an educational qualification from the comfort of one’s home or workplace is an idea that is appealing to a large number of people who do not have the time to enroll for a traditional classroom-based course. It is usually easier to obtain admission for online courses; another advantage is that sometimes the tuition fee may be lower than a regular course for the same discipline.

One of the common misconceptions related to online learning is that it is a solitary, non-instructor-led, self-paced activity. This is far from the truth. Quality online education is a people-oriented, instructor-led activity that requires a level of communication comparable with on-campus education. Students are able to communicate with their peers through e-mails, online class projects and discussions. The availability of online libraries has also made the learning process easier. Some universities even allow students to shift from on-campus learning to online learning and transfer the credits.

With the proliferation of online distance education, it is becoming increasingly important to select the right college or university. Several websites provide detailed information about the online courses available and also offer a comparison of the colleges and universities with respect to the quality of their online distance learning programs.

Diversifying Revenue Needed for Institutions of Higher Education

Diversifying Revenue

Today, institutions of higher education are being encouraged and challenged to think creatively about expanding and developing new revenue sources to support the their short-term and long-term goals. Moody’s Investors Services has outlined in its published reports how every traditional revenue stream for colleges and universities is facing some sort of pressure.

Unfortunately, the pressure on all revenue streams and sources is the result of macro-level economic, technological and public opinion shifts, and these changes are largely beyond the control of institutions.

The Moody analysts have cautioned that revenue streams will never flow as robustly as they did before 2008. It’s been stated the change will require a fundamental shift in how colleges and universities operate; one that will require more strategic thinking.

In their studies, Moody’s notes that colleges and universities will have to rely on strategic leaders that are willing to address these challenges through better use of technology to cut costs, create efficiency in their operations, demonstrate value, reach out to new markets, and prioritize its programs. However, in doing so, many of these efforts may create disputes with faculty members or other institutional constituents, unless they are able to get the collective buy-in that has been the staple of higher education governance. But with goals being established and the evolution taking place as part of the process, hopefully, there will be a more widespread understanding on all sides.

Major revenue constraints can be attributed to larger changes in the economic landscape, including lower household incomes, changes and fluctuations in the economic and federal government picture, declines in the number of high school graduates, the emergence of new technologies, and a growing interest in getting the most out of a college education – particularly as it pertains to employment after graduation. A stable fiscal picture and outlook would require improved pricing power, a sustained and truly measured decrease in the unemployment rate, improvements in the housing market, and several years of consistent stock market returns.

The traditional higher education model has been disrupted by the ability of massive open online courses, particularly by the legitimization of online education and other technological innovations. In many ways, this has signaled a fundamental shift in strategy by industry leaders to embrace these technological changes that threaten to destabilize the residential college and university’s business model over the long run.

There are other related challenges facing higher education: the growing profile of student debt, which has topped $1 trillion nationally, and default rates, and pressure on politicians and accreditation agencies to ensure the value of degrees. In addition, an alarm continues to sound over a potential student loan bubble and the diminishing affordability of higher education.

One way for colleges and universities to get students, and their parents, to pay for higher tuition is by demonstrating that the outcomes – including their campus experience, postgraduate employment, graduate school enrollment, and long-term success and happiness – are well worth the tuition and future job pay. Students and their parents want to know, “What am I getting for my investment?” As a result, recruiters have a tougher job “selling” a traditional education with the cost of education continuing to escalate.

But the on campus education and living and learning experience are the “door openers.” As I like to say, “We are a product of our environment.” Making the right friends, building relationships with influential professors, administrators, parents and relatives of friends, and fraternity brothers or sorority sisters all get added into the equation of the student’s environment. In retrospect, students may forget or never use half of what they learn, but the connections and friends they make and the experiences they have while in college are priceless.

Over 1/3 of the colleges and universities in the nation are experiencing some sort of financial crisis. Many have gone from operating full operating budgets to a comfortable black to a severely red. And cash reserves have dropped, as well as endowments.

Without a doubt, the university must find new revenue sources. Attracting more out-of-state and international students is one additional source of revenue for these institutions.

We must never lose sight of the fact of the importance of investing in higher education. Educating the young is of primary importance. Devising ways to maximize time and money, such as integrating class projects and research that might result in publication is another alternative to consider.

Allowing and/or expanding commercialism on the campus may provide added sources of revenue. Examples could include allowing corporate naming rights to athletic facilities or increased advertising signage inside arenas and stadiums. This may seem drastic and some may even say, “You have to pick your poison” in being creative to increase your revenue streams.

Attempting to reduce the university’s “discount rate,” the percentage of the total tuition bill for the entire student body that the university waives to grant financial aid to its students is one possibility. But that can be risky business. Any move to reduce the discount rate potentially upsets an exceedingly delicate balance. Looking to attract families that are able and willing to pay full or near full tuition, while simultaneously making the school accessible to less wealthy students, and hitting the right mark, granting merit aid to lure high-potential students who might later benefit the school and broader community, may be one possibility to work in achieving a better balance among the many factors that feed enrollment. Additionally, stepping-up the fundraising efforts to offset any potential rising discount rate may also be helpful.

Another factor to think about is the amount of construction the institution may be having on campus, especially during campus tours, to determine the effect, it may or has caused in any dips in the recruiting process. Even though construction on campus is a sign of growth and improvement, in the short-term it is not always the most attractive thing for students to see and hear on campus, or experience during a campus tour with their parents.

Institutions of higher education must also anticipate any approaching demographic shifts. They may have to grapple with an economic and social environment in which more families bargain for the best deals among different schools. If this is the case, the institutions should consider making their best offers up-front first and try to avoid drawn-out negotiations.

Students are creating more choices for themselves and they have more access to more choices. The internet makes it easier for students to research and apply to more schools.

Some of the private institutions have held back from the tuition-hiking trend, and some have even cut tuition costs in an effort to attract more students. Other schools have taken more unconventional measures, such as freezing tuition, offering three-year degree programs, or giving students four-year graduation guarantees. They are doing this with the goal of increasing enrollment levels that will more than offset the reductions being made, thereby providing more overall revenue without sacrificing the student’s education.

But also since the economic downturn, private colleges and universities across the nation have redoubled efforts to cut their operating costs, improve their efficiency, and enhance their affordability in order to stay within reach of families from all backgrounds. You cannot lose sight of that. Making it work has to be done on both ends; cutting costs and increasing revenues.

Other strategies that could be considered to increase the enrollment and revenue streams at institutions of higher education could include the following:

  • Segmenting search to target upper profile students with different messages;
  • Increasing scholarship levels (while still maintaining net revenue needs);
  • Targeting out-of-state students or students outside of traditional markets;
  • Targeting high school honors programs;
  • Holding a scholarship recognition day;
  • Stressing off-campus opportunities such as internships and study abroad;
  • Promoting graduate school placements and outcomes; and
  • Developing high profile academic majors, pre-professional programs, or new majors and programs to support enrollment growth.

Additional considerations for increasing revenue streams might include:

  • Review the individual educational programs in-place and revenues provided by each and coverage of direct costs and determine what changes should be made, if any;
  • Acceleration of the 4 year degree programs into 3 to 3 ½ year programs to save on tuition and utilize it as a marketing tool for recruiting, but do so without short changing the student’s education;
  • Providing an automatic 2-year graduate scholarship at the university for students who enroll in a 4 year undergrad program and meet and maintain a defined GPA level and other pre-defined standards and goals of the university. Use as a tool for marketing and recruitment;
  • Having a full-time grant application aid/seeker for the university searching for state and federal funds, as well as working with faculty and staff to develop research projects for funding and using as educational programs for the students;
  • Establishing joint and cooperative programs with other universities in the US and abroad for recruiting;
  • Consider an overall re-evaluation of the recruiting process for identifying and “going after” potential students, thereby expanding the horizons and outreach;
  • Obtaining more exposure on a “national and multi-state” level;
  • Determine if any new programs should be added, programs dropped, or enhanced and/or expanded;
  • Develop tools for “presenting a plan” and a “comprehensively designed package” for financing and paying the cost for education;
  • Reaching-out to alumni and friends for enhanced ways to provide for contributions to the university through annuities, insurance, and other charitable giving techniques and products; and
  • Developing relationships with corporate sponsors for grants and contributions and placements for graduating students.

Conclusion

For the suggestions mentioned about possible new revenue source considerations to support the institution’s short-term and long-term goals, it will be important to develop predictive financial modeling tools for testing the proposed changes and outcomes to the enrollment levels and the projected effects on the revenue streams and the overall bottom line.

In doing all of this we must never lose sight of the fact that education prepares graduates to lead lives of achievement, contribution and meaning. And, as I like to say, “The Students will become a Product of their Environment.”

Advantages of Online Schools Over Campus-Based Education

Schooling is one of the most difficult parts of one’s life. Education is one of the essentials and today it has become the priority for everyone at all levels. Going to conventional schools is sometimes a dream for many as they do not have access to any nearby good school which provides the best educational facilities in the particular subject desired by the students. In such cases, online schools are the best opportunity to learn and obtain a degree.

Online schools, unlike the campus schools, provide a wide range of subjects and a completely flexible environment adjustable according to the timings of the students. These schools allow students to attend classes anywhere and anytime which suits them. There are no restrictions for participation in a certain manner, or just hearing the teacher. The lectures are complete and coherent which need no further explanations as teachers realize the fact about students that they do not have access to them in person, so it needs to be put-up in the most logical way. Students gain ample time to learn and understand all the concepts. The interactions and discussions forums with fellow students and teachers result in the best learning environment for students.

With increasing technological advancements, researches and varying concepts related to science and the arts, it is difficult to keep the curriculum up-to-date in a conventional schooling process. Online schools have this opportunity to keep their curriculum updated as they do not follow any specific set of books and syllabuses which is fixed once and for all. The updated concepts help in improving students’ views about different aspects of the subjects and their minor details. This helps in enhancing thinking process along with increasing student’s knowledge to let them concentrate on critical and analytical concepts.

Online schools provide a bright opportunity to the students and professionals to gain the best up-to-date knowledge in accordance with the modern tactics and techniques helping them to understand the changing requirements of the industry they are associated to. The interactive study method helps students improve their mental abilities and knowledge in the respective industries, thus, making it easier for them to improve their position financially and rankly at the job place.

Students who are working at part-time jobs can actually get some more time to rest and remain fresh to learn and understand the subject of study in a better way as it is not possible to manage the campus education and continuing job. Online schools also provide students with the opportunity to customize their timetables according to the times which suits them the best. This allows the students to study in a relaxed way hence enabling them to learn and understand in the best way and gain a high level job with the best knowledge at hand. Briefly, while pursuing online education, students don’t feel any burden of studies or managing times, as everything is carried out as per their own requirements and desires.