It’s been a couple weeks since Brian Jones officially required the helm at Strayer University. The new leader is stepping into the role as the institution pushes against financial headwinds that are rattling the broader for-profit university industry. A steady decline in enrollment has become a financial drag for many for-profit universities, while new authorities rules threaten further instability.
Marquee industry titles, like Education Management Corp., Career Education Corp.. Corinthian Colleges, are shutting universities or have folded completely. Though every one of the turmoil Yet, Strayer afloat is managing to stay, stay away from authorities lawsuits, and grow enrollment a little. For the fall term, total enrollment increased by two percent to 42,975 students, reversing many years of decline, although the true variety of new students signing up dropped by one percent.
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The school offers undergraduate and graduate-level programs in such areas as business administration, information technology and criminal justice online and at 80 campuses in 24 state governments. It is gaining attention for teaming with major companies like Fiat Chrysler Automobiles, which now covers the expense of a Strayer education for almost all of its car dealers and their families.
It’s the type of collaboration, the new chief executive hopes to replicate. Jones, who joined Strayer as general counsel in 2012, has served as interim chief executive for the past few months. Now that he has been sworn in as the educational college 15th president, Jones shared some of his programs to keep one of the oldest for-profit schools forging ahead.
What’s your vision for Strayer? How do you plan to get the educational college through what has turned into a tough environment for for-profit schools? Today than we’ve been in for a number of years We’re in a more powerful position. For the last two terms, we’ve seen enrollment growth. We’re happy about that, but it’s just one single indicator of the institution’s strength.
We know that the world of work is changing, so the skill pieces and the mindsets that are driving value in the marketplace are changing. There’s a disconnect between what employers want for, what the marketplace is demanding and what a lot of higher ed is producing, not in our sector just. Because of our long heritage of working closely with corporate partners, we have found ourselves in a relatively strong position.
Our students are arriving to us with some very useful demands. We mainly provide an operating adult population that are juggling college, dealing with family members and working full-time careers. We’re very focused on rethinking how exactly we address that early experience for new students who enter into the institution. There is certainly of course the challenge of affordability across higher education.
We know that students make a significant investment to continue their education with us. We’ve also tried to be aggressive about confronting that affordability problem. After some duration ago we cut tuition over the board for our new students by 20 percent. A comparable time, we instituted an application that we’re very pleased with called out Graduation Fund.