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Articles: Financial Services

Michael R. Nelson, a professor of internet studies at Georgetown University and former White House staffer, will deliver at keynote speech at UBTech 2016 in Las Vegas.

Michael R. Nelson, a professor of internet studies at Georgetown University, says innovation is about much more than just a good idea. It requires finding new ways to combine existing ideas, products and services into something that people will want. At the heart of that process is collaboration.

The U.S. experienced a decrease in million-dollar donations in 2014. (Click to enlarge)

At least 1,831 gifts of $1 million or more—a total of $24.5 billion—were given to charity across eight international regions in 2014, with higher education remaining the top recipient.

Yet it’s a decrease from 2013, when 1,995 donations worth $26.3 billion were reported.

Most colleges and universities will continue to face financial hurdles, and although there is much crossover, certain issues will be more or less of a concern based on the size of the university and its student population. One thing is true across the board: Student expectations are changing.

A sampling of responses to UB's Look Ahead surveys of campus leaders. (Click to enlarge infographic)

As we ring in 2016, higher education leaders have much to look forward to as well as, of course, much work to be done. Outlook 2016 is UB’s second annual special issue aimed at providing insight on the major trends expected to impact campus leaders in the year to come.

A new book by Melinda Lewis and William Elliott shows how current aid models contribute to inequality, and discusses a number of promising alternatives.

Higher education is supposed to be a critical first step on the ladder that leads to economic mobility. But William Elliott and Melinda Lewis say that students often leave school with debilitating debt that delays or even prevents any upward climb on that ladder.

Students at California’s Santa Clara University are tapping their campus cards for various on-campus services instead of swiping, with the use of NFC technology. With convenience and efficiency as key drivers, the university plans to transition its NFC offerings to include mobile devices within the next couple of years.

Campus cards accomplish many tasks—from purchasing meals and vending machine snacks to unlocking dorm rooms and other campus facilities. A growing number of colleges and universities now offer even greater convenience, having replaced less-secure swipe cards with “contactless” cards and mobile devices that perform the same functions.

Effective student success initiatives begin long before that first day of classes and often continue beyond graduation. The colleges and universities highlighted in the third round of UB’s national Models of Excellence awards program demonstrate a commitment to that holistic experience.

Mary Piccioli is an enrollment management consultant at Scannell & Kurz.

With freshman discount rates once again on the rise, it will be more important than ever for institutions to review whether their methodologies for developing a budget for financial aid are sufficiently robust.

Using a cohort-based budget approach is critical for understanding the implications of replacing a “cheaper” senior class with a more heavily discounted freshman class.

Texas A&M University’s campaign to raise $4 billion for research, facilities and scholarships represents the largest-ever fundraising effort in a state known for going big. It’s also the second largest effort announced by a higher education institution.

Given the amount of innovation transpiring daily on the American college campus, it’s not surprising that higher ed institutions have become destinations for the broader community. Outside groups host conferences, retreats, weddings and other social events at campus facilities, while travelers can sometimes find a room for the night.

The Oregon Promise program is similar to Tennessee Promise, which launched in fall 2015.

Oregon’s 17 community colleges expect a jump in fall 2016 enrollment, when the first group of eligible students takes advantage of the state’s new free tuition plan created this summer. The program is modeled after the groundbreaking Tennessee Promise initiative that enrolled its first students this year.

Nayef H. Samhat, president of Wofford College, believes cost of attendance would limit athletics program options for students at schools like his. The Wofford’s men’s basketball team emerged from the 2014-15 season as Southern Conference regular season champions and Southern Conference Tournament champions.

Several prominent Division I conferences (including the American Athletic Conference and Conference USA) have expressed support for cost of attendance, and Division I schools such as the University of Virginia and The University of Alabama now provide it; but not all member schools are on board.

Of the 23 types of organizations studied by the Association of Certified Fraud Examiners (ACFE) in 2014, education—including higher ed—had the fifth highest frequency of fraud.

Embezzlement originating from any corner of campus can threaten any college and university. As for the losses, they can be big. Here are four ways technology and vigilance can help head off financial fraud.

Participants in Austin Peay State University’s Full Spectrum Learning spend an hour per week covering the transition to college, social and independence skills, and academic success strategies.

Programs for students on the autism spectrum are no longer a unique campus concept, but Austin Peay State University’s Full Spectrum Learning (FSL) initiative stands out from the crowd.

Input in shaping FSL comes from all groups involved—especially students with autism who participate in the program and their upperclassmen mentors. In addition, the effort is housed in the Tennessee university’s education department rather than in the disabilities services office.

In 1969, three-quarters of faculty at U.S. colleges and universities were tenured or tenure-track. That number dropped to just above one-quarter in 2013. (Click to enlarge)

Colleges and universities have made spending on administrators and part-time instructors a higher priority than raising salaries of core faculty members who have the biggest impact on learning, says a new report from the Campaign for the Future of Higher Education.

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