From cashing in on beer sales at football games to providing community members with a safe way to trash old electronics for a fee, administrators are looking beyond tuition and endowments to make up for budget shortfalls.
The world of intellectual property is not the easy goldmine it may appear to be from the outside. There is a business behind selling scholarly works, whether they fall into the patent or copyright realms of IP--both forms are citizens of the university world, though with completely different issues and revenue streams.
While trademark would not generally be considered scholarly material that is serving the public good, the $4.6 billion a year it generates for institutions does help them remain more healthy and visible.
That total makes it the second largest category of licensed merchandise in the country, behind only Major League Baseball, says Andrew Giangola, vice president of Strategic Communications at Collegiate Licensing Company, a sports marketing company that represents nearly 200 colleges and universities.
The U.S. economy has been through major changes in the last several years, and the effects are being felt on campus. In many cases, this turmoil shows up publicly in the form of a credit-rating downgrade. On some campuses, a change in the credit rating has no effect on the day-to-day operations; on others, it can be devastating.
The coming change in how student loan default rates are calculated may mean bad news for some colleges and universities.
With the new calculations, the rate at which a group of students later defaults on loan payments will increase for most institutions, and schools with a particular default rate for three consecutive years will lose the ability to give Pell Grants. That’s why many are seeing this as the ideal time to look at how default prevention services are managed.
Five years after the Great Recession’s official end, higher ed endowments and fundraising are finally recovering, but there is no rising financial tide that’s lifting all boats—especially smaller ones that depend heavily on tuition.
From managing loans to controlling spending, many college students find themselves dealing with a host of financial responsibilities for the very first time. And it’s not uncommon for them to trip up.
Campus financial literacy programs can help students steer clear of some of their most common financial mistakes. The challenge for educators is to find creative and clever ways to get their attention.
As costly as tuition and textbooks can be, poor planning and time management can raise the prices even higher.
Richard O’Connor, director of financial aid at American International College in Massachusetts, says students at that institution have several options for saving on books. “About half of our students are low income, so just paying tuition can be challenging.”
When it became clear that the scientific equipment in hundreds of labs across the University of Pittsburgh campus was not being maintained effectively, professionals in the university procurement department began looking for a new provider to do the job.
The university had long relied on a purchasing cooperative to secure favorable contracts with vendors for bulk products such as office supplies. When administrators discovered that the cooperative had established an agreement with Specialty Underwriters (SU), a provider of equipment maintenance, their search was over.