Since 1978, the average cost of college tuition and fees have increased 1,120% according to a recent Bloomberg report. These astronomical hikes in tuition costs are making many 2nd and 3rd tier universities nervous about what they can do to remain a viable option for the next generation of students. Since job salaries for recent graduates are not rising at the same rate as tuition costs, these lower tier universities must do something to avoid becoming obsolete in the landscape of higher education.
If you were the president a lesser-known university, propose one idea you would implement to try and keep your school competitive and attractive to the next wave of students.
1) Outline how this idea would affect the overall educational experience at your university
2) Forecast the financial impact your idea would have. Specify where savings will be realized and an estimation how much will be saved.
Your proposals can focus on any topic, but feel free to explore cutting costs for students, reducing spending on administrative areas or facilities, or altering academic offerings to remain relevant for students with cost constraints.