Published by Acadeum
Delays in opening the updated FAFSA have caused a domino effect, with far-reaching impacts. It has led to delays for millions of students and parents in filing the FAFSA delays in processing it and sending students’ financial information to colleges, delays for colleges creating financial aid award packages, and delays for students receiving these awards and even making their higher education decisions.
Enrollment trends in higher education have been impacted inevitably by this situation. Statistics show the largest impact in the FAFSA delay is for small, independent institutions which are projected to see a 5 to 10 percent decline in enrollment for fall 2024. FAFSA completion for recent high school graduates is down 3.5 percent overall year over year. And the crunch in the timeline is taking an obvious toll on learners seeking aid and on the institutions that are trying to frantically process financial aid packages.
With over 500 institutions collaborating to offer over 100,000 course sections and industry providers delivering close to 400 different certifications, Acadeum helps colleges and universities be nimble and innovative while bolstering academic programming. Continue reading to learn how partnering with a network can help institutions navigate enrollment challenges caused by FAFSA updates.
Leverage Course Sharing Networks
One effective strategy to navigate the current enrollment challenges resulting from FAFSA updates is to leverage the power of a network. Participating in the world’s largest course sharing network allows institutions to be nimble and responsive. By joining a large network, institutions can quickly access a wide range of courses, helping them to adapt to changing student needs and enrollment patterns.
Acadeum Course Share can be a solution for a large range of course needs, including scheduling roadblocks, staffing gaps, and a new set of course offerings. There are few limits to bolstering institutional catalogs and flexibility, making institutions responsive to student interests, needs, and opportunities.
For instance, institutions can use the network to make last-minute decisions on the allocation of resources, cover faculty sabbaticals, or fill in gaps in course offerings. This flexibility can be particularly useful when it comes to managing budget constraints and ensuring that students have access to the courses they need, even in times of uncertainty.
Implement Dynamic Budgeting Practices
Given the unpredictable nature of enrollment trends, it is crucial for institutions to adopt more dynamic budgeting practices. Dynamic budgeting practices include being prepared to adjust budgets based on real-time enrollment data and external factors, such as economic shifts or national funding delays.
For example, dynamic budgeting allows institutions to delay contract or adjunct hiring until enrollment numbers are more certain; they canstart with fewer course sections and only add more as needed. Additionally, institutions can use consortial courses to make informed decisions about resource allocation and reduce overhead costs.
Enhance Program Offerings and Flexibility
To attract and retain students, institutions should focus on enhancing their program offerings and increasing scheduling flexibility. Program share through the Acadeum network empowers institutions to offer more responsive majors with customizable concentrations, accepting credits from a variety of learning experiences and creating shorter-term, stackable credentials.
Being part of a digital ecosystem gives institutions immediate access to a vast inventory of courses, professional certifications, and a collection of peers to build sustainable academic pathways. The consortium model offers a solution to this challenging landscape because it allows institutions to pivot quickly with immediate access to quality accredited courses while keeping students’ needs front and center.
For example, institutions can introduce professional certificate opportunities as part of degree pathways, or launch new programs quickly to respond to market and workforce demands. This approach not only meets the evolving needs of modern learners but also helps institutions stand out in a competitive market.
Skills like user experience design, data analytics, IT management, or project management bolster student employability. Market analysis of job postings across the US demonstrates skyrocketing interest in project management, and of course, automation and artificial intelligence skills. These skills can complement almost any discipline, and industry-relevant content can be repurposed quickly to embed learning modules with these skills into institutional curriculum or standalone certifications.
Creating on-ramps and off-ramps with certificates, professional certificates, and microcredentials supports lifelong learning. Acadeum Skills Marketplace empowers institutions to offer solutions to support lifelong learning with plug-and-play tools that offer hundreds of high-demand certifications that increase student employability and workforce readiness.
In addition to student benefits, Acadeum Skills Marketplace expands the visibility of institutional brands and creates new funnels of market leads. Most importantly, it provides institutions with an opportunity to bolster employability of current learners and attract new learners.
Future-Proofing Higher Education Institutions
In conclusion, the Acadeum team of academic experts is ready to help institutions think through how to incorporate these offerings into academic portfolios and market them to the modern-day learner searching for the skills and upskilling to stay relevant in the workforce.
The complex challenges facing higher education today require deep strategic solutions rather than quick fixes. By leveraging the Acadeum network, implementing dynamic budgeting practices, enhancing program offerings, and empowering lifelong learning, institutions can navigate enrollment challenges more effectively and future-proof their operations.
These strategies are designed to help institutions adapt quickly to the ever-changing higher education landscape. As part of a digital ecosystem, institutions can access a vast inventory of courses and professional certifications, providing immediate and flexible solutions to students’ needs.
Acadeum’s Partner Success Managers help institutions explore these strategies in detail and determine the best ways to implement them. By doing so, institutions can mitigate risks, optimize resources, and ensure the success of students and institutions in the long term. Are you taking full advantage of the opportunities available through the Acadeum network? Now is the time to act and strategically position your institution for future success.
Delays in opening the updated FAFSA have caused a domino effect, with far-reaching impacts. It has led to delays for millions of students and parents in filing the FAFSA delays in processing it and sending students’ financial information to colleges, delays for colleges creating financial aid award packages, and delays for students receiving these awards and even making their higher education decisions.
Enrollment trends in higher education have been impacted inevitably by this situation. Statistics show the largest impact in the FAFSA delay is for small, independent institutions which are projected to see a 5 to 10 percent decline in enrollment for fall 2024. FAFSA completion for recent high school graduates is down 3.5 percent overall year over year. And the crunch in the timeline is taking an obvious toll on learners seeking aid and on the institutions that are trying to frantically process financial aid packages.
With over 475 institutions collaborating to offer over 100,000 course sections and industry providers delivering close to 400 different certifications, Acadeum helps colleges and universities be nimble and innovative while bolstering academic programming. Continue reading to learn how partnering with a network can help institutions navigate enrollment challenges caused by FAFSA updates.
Leverage Course Sharing Networks
One effective strategy to navigate the current enrollment challenges resulting from FAFSA updates is to leverage the power of a network. Participating in the world’s largest course sharing network allows institutions to be nimble and responsive. By joining a large network, institutions can quickly access a wide range of courses, helping them to adapt to changing student needs and enrollment patterns.
Acadeum Course Share can be a solution for a large range of course needs, including scheduling roadblocks, staffing gaps, and a new set of course offerings. There are few limits to bolstering institutional catalogs and flexibility, making institutions responsive to student interests, needs, and opportunities.
For instance, institutions can use the network to make last-minute decisions on the allocation of resources, cover faculty sabbaticals, or fill in gaps in course offerings. This flexibility can be particularly useful when it comes to managing budget constraints and ensuring that students have access to the courses they need, even in times of uncertainty.
Implement Dynamic Budgeting Practices
Given the unpredictable nature of enrollment trends, it is crucial for institutions to adopt more dynamic budgeting practices. Dynamic budgeting practices include being prepared to adjust budgets based on real-time enrollment data and external factors, such as economic shifts or national funding delays.
For example, dynamic budgeting allows institutions to delay contract or adjunct hiring until enrollment numbers are more certain; they canstart with fewer course sections and only add more as needed. Additionally, institutions can use consortial courses to make informed decisions about resource allocation and reduce overhead costs.
Enhance Program Offerings and Flexibility
To attract and retain students, institutions should focus on enhancing their program offerings and increasing scheduling flexibility. Program share through the Acadeum network empowers institutions to offer more responsive majors with customizable concentrations, accepting credits from a variety of learning experiences and creating shorter-term, stackable credentials.
Being part of a digital ecosystem gives institutions immediate access to a vast inventory of courses, professional certifications, and a collection of peers to build sustainable academic pathways. The consortium model offers a solution to this challenging landscape because it allows institutions to pivot quickly with immediate access to quality accredited courses while keeping students’ needs front and center.
For example, institutions can introduce professional certificate opportunities as part of degree pathways, or launch new programs quickly to respond to market and workforce demands. This approach not only meets the evolving needs of modern learners but also helps institutions stand out in a competitive market.
Skills like user experience design, data analytics, IT management, or project management bolster student employability. Market analysis of job postings across the US demonstrates skyrocketing interest in project management, and of course, automation and artificial intelligence skills. These skills can complement almost any discipline, and industry-relevant content can be repurposed quickly to embed learning modules with these skills into institutional curriculum or standalone certifications.
Creating on-ramps and off-ramps with certificates, professional certificates, and microcredentials supports lifelong learning. Acadeum Skills Marketplace empowers institutions to offer solutions to support lifelong learning with plug-and-play tools that offer hundreds of high-demand certifications that increase student employability and workforce readiness.
In addition to student benefits, Acadeum Skills Marketplace expands the visibility of institutional brands and creates new funnels of market leads. Most importantly, it provides institutions with an opportunity to bolster employability of current learners and attract new learners.
Future-Proofing Higher Education Institutions
In conclusion, the Acadeum team of academic experts is ready to help institutions think through how to incorporate these offerings into academic portfolios and market them to the modern-day learner searching for the skills and upskilling to stay relevant in the workforce.
The complex challenges facing higher education today require deep strategic solutions rather than quick fixes. By leveraging the Acadeum network, implementing dynamic budgeting practices, enhancing program offerings, and empowering lifelong learning, institutions can navigate enrollment challenges more effectively and future-proof their operations.
These strategies are designed to help institutions adapt quickly to the ever-changing higher education landscape. As part of a digital ecosystem, institutions can access a vast inventory of courses and professional certifications, providing immediate and flexible solutions to students’ needs.
Acadeum’s Partner Success Managers help institutions explore these strategies in detail and determine the best ways to implement them. By doing so, institutions can mitigate risks, optimize resources, and ensure the success of students and institutions in the long term. Are you taking full advantage of the opportunities available through the Acadeum network? Now is the time to act and strategically position your institution for future success.
