The Higher Education Business Model is Broken, But We Can’t Lose Sight of Why We Broke It, and Who We Needed to Break It For
“The pandemic has forced us to confront higher education’s broken business model more directly. While we can no longer afford to be broken, the fundamental items that caused the problem are not resolved. The very thing that broke us – our missional focus on those who we must serve, though such service is not ‘profitable’ – is what sustains our communities during the pandemic. With a spine of steel and great will, we must reinvent ourselves in order to serve those who need us most.” by Mary Hinton, President, Hollins University “The economic model is broken.” “Your expenses are too high. “ “We can find all the answers through technology and you are no longer needed.” “There’s no real value to what you offer.” As a college president, I have heard these statements and the attendant negative narrative about higher education for far too long. At every opportunity, those of us in higher education are forced to articulate and provide concrete evidence of our value proposition: Again and again, we repeat our value. Having served on the board of a health system, I often heard the president respond to a similar narrative decrying the broken healthcare model, the questionable value […]