Chronicle of Higher Education: And unless they rethink the way they do business, education experts say, some colleges will be forced to shutter.Three-year degrees and more online courses seem to be very realistic changes that we'll see soon.
"We're staring fundamental change in the face," said Stephen R. Portch, a former chancellor of the University System of Georgia. "Our system is bankrupt, and we've got to have a new model."...
To meet both the academic and financial challenges, colleges will have to rethink how they do business, Mr. Smith and others said. Among the ideas discussed: three-year degrees, year-round classes, online courses, adopting learning outcomes tied to real-world standards, and changing federal financial-aid policy to meet nontraditional students' needs.
What the conversation can't be about, said Nasser H. Paydar, chancellor of Indiana University East, is more money. "Universities just aren't going to get much more of it," says Mr. Paydar, who overhauled the budgeting process at his state university, putting spending decisions in the hands of deans and giving them incentives to be more entrepreneurial in seeking new sources of funds.