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Articles: Revenues

Preached by a select few in academe who saw the recession approach like a speeding freight train, the do-more-with-less philosophy—finally—is gaining traction and critical leadership support in higher education both nationally and abroad. Yes, finally.

Successful business incubation at universities is about much more than a capable technology transfer office (TTO) and strong commercialization policies. New businesses are born at universities because faculty and students have the freedom to develop innovative ideas and pursue new lines of inquiry. To emerge from the university successfully, these pioneering ideas must be accompanied by prototype development, market research, commercialization strategy, and effective fundraising.

More than eight in 10 administrators surveyed—mainly controllers/budget officers and CFOs—say they’re very or somewhat concerned about their institutions’ ability to fund future capital investments. Two-thirds expressed concerns about maintaining enrollment. A significant number of leaders have adopted or are considering tuition increases (53 percent), delaying capital projects (45 percent), eliminating programs that reflect less demand (34 percent), or freezing faculty salaries (28 percent).

Every three weeks, menu items rotate for The Flying Bison food truck located at Bucknell U.

The food truck craze that’s hit cities large and small across the nation has made its way to college and university campuses, offering up new dining options in new spots with more hours. Bringing a food truck to campus isn’t as easy as throwing in an oven and hoping students are hungry, though. It takes serious planning, but it’s worth it, shares John Cummins, general manager of residential dining for Parkhurst Dining, who brainstormed The Flying Bison food truck at Bucknell University (Pa.) for more than two years before the converted laundry truck became operational this spring.

You won’t find an college store named Rafter, Akadémos, or Neebo, but these companies have been reshaping the landscape of textbook buying, renting, and more.

What’s missing in this picture? Staff at the Brigham Young University Bookstore wheel out the textbook shelves after the term is underway to make room for a clothing boutique. The store now offers a wider array of merchandise that any other time in its 106-year history.

At the River Store in Ft. Pierce, Fla., it’s hard to miss the course textbooks stacked along multilevel, metal shelves, as well as the array of insignia T-shirts, sweatpants, hoodies, and caps bearing the Indian River State College logo and nickname, the Pioneers. These offerings have long been what generations of students, faculty, and alumni have come to expect at many of the almost 4,500 college stores across the country.

A third of all colleges and universities in the United States are in a weaker financial state today than before 2005, according to a new study.
Colleges have more liabilities, higher debt service, and increasing expenses without the revenue or cash reserves to back them up, as well as limited ability to pass costs onto families, according to Boston-based Bain & Co.

Proving that few higher ed institutions are immune from the effects of the economy, schools such as Yale and MIT are included on Bain’s list.

Higher One has achieved Oracle Validated Integration of its CASHNet payment processing suite 2012.2 with Oracle’s PeopleSoft Campus Solutions 9.0. With this integration, colleges and universities, as well as students and parents, are able to easily process payment anytime, anywhere using the CASHNet payment processing suite. To achieve Oracle Validated Integration, Oracle partners are required to meet a stringent set of requirements that are based on the needs and priorities of the customers.

Americans are increasingly choosing donor-advised funds (DAFs) as their preferred charitable giving vehicle. They have become the fastest growing vehicle in philanthropy, outnumbering private foundations by more than two-to-one. In 2010 (the most recent available data), grantmaking from DAFs totaled more than $6.1 billion, according to the “2011 Donor-Advised Fund Report” from National Philanthropic Trust.

(Ed Note: The university and its executive vice president referred to in this story have asked to remain anonymous.)

Can a university use efficiency methods from the corporate world while staying true to its values?

That was the challenge facing The University’s executive vice president (EVP) and his team.

an arrow holding a dollar bill on a dartboard

As the name reveals, auxiliary services will never be directly related to the core mission of colleges and universities. But as ever-tightening resources have become the reality for institutions, the revenue-generating possibilities for these departments have become more important than ever.

Student Loan Default Rates on the Rise

New figures released last month by the U.S. Department of Education show a sharp increase in the rate at which student loan borrowers are defaulting at colleges and universities across the country. According to the report, “two-year cohort default rates” show that 8.8 percent of student loan borrowers who entered repayment in 2009 had defaulted by the end of 2010, up from 7 percent over 2008.

The economic model theory addresses a fundamental question of how scarce resources should be deployed to generate maximum benefits. An economic model includes forecasting, planning, allocating resources, predicting growth, and evaluating risks. The academic library is no exception to an economic model because there is a strong relationship between an academic library and its economic efficiency in budget performance, particularly during economically distressed times. The library operation requires a fresh look at its activities similarly to profit-making firms.

Colleges and universities are increasingly turning to alternative revenue streams, such as grants, private donations, custom publishing, patents, real estate, and profitable graduate courses to help raise revenue. Administrators at these schools say it is the only way they can compete with wealthy private schools that have brand names and large endowments.

As another school Semester begins, administrators will be confronted with a segment of their student population that does not go on to graduate. Attrition is nothing new, of course. It happens every year, as students begin their college careers in earnest, but find, for one reason or another, that they can't continue. Perhaps the student has financial difficulties or is simply not prepared academically or emotionally for the rigors of college.

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