Abstract
The higher education industry faces many challenges. Despite the recognition that a college degree is essential to developing skilled employees, informed citizens, and flourishing people, there is a shortage of skilled workers, college costs (and student debt) are rising, and the attainment gap for minorities and underrepresented populations remains stark.
Highlights
The higher education industry faces many challenges
Technological advancements have created a market for higher education that is no longer local or national, providing both opportunities and challenges for institutions to serve diverse student needs around the world
Attempts to expand accessibility to higher education have shifted dynamics in the industry, as the needs of individuals generally underrepresented in traditional settings require more flexible, cheaper, and practical options to create meaningful and achievable opportunities
Summary
The higher education industry faces many challenges. Technological advancements have created a market for higher education that is no longer local or national, providing both opportunities and challenges for institutions to serve diverse student needs around the world. Attempts to expand accessibility to higher education have shifted dynamics in the industry, as the needs of individuals generally underrepresented in traditional settings require more flexible, cheaper, and practical options to create meaningful and achievable opportunities. This is the market that the growing number of for-profit institutions largely serves. By frequently using government funds to serve traditionally underserved populations, for-profit institutions have come under scrutiny and faced a fair amount of (in some circumstances justifiable) controversy
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