Many people working in higher education in Illinois were interested in the recent announcement about Lincoln College’s closure. Stephen Standifird, president of Bradley University, is one of them.
He stated that he believes that the Lincoln College example is an example of a trend in institutional failures that he expects will continue.
Standifird stated that he reviewed recent research for the Lumina Foundation (in Indianapolis), which showed that while demand for higher education remained essentially flat between 2009 and 2019, but capacity increased over the same period – leading to more supply rather than demand.
“About 25% are empty in higher education right now. Standifird said that in any other industry, this would be considered a wildly saturated industry that will need to have some market correction. “And I think that you’re gonna witness that in higher educational.”
Standifird stated that the research suggests that institutions will adapt by diversifying their options, such as offering more online courses; or through mergers and acquisitions of other institutions.
“You’re likely to see some closings. It will be, unfortunately, an inevitable part the market. He stated that it is crucial that we focus on and respond to today’s needs and interests of students. “Because, I’m certain the universities that do this are going to be fine. And those that aren’t will have to pay the consequences.
Standifird stated that the university’s recent strategic plan is more student-centric. He stated that research into the plan revealed two major themes: students want a diverse campus community and more than just career planning.
“Jobs still matter. This is obviously important. Students remind us of this. But it’s much more than that. They want to make a difference in the world. They want us to help them achieve that,” he said.
He said that it means offering courses students desire, such as Bradley’s burgeoning program in videogame design. However, it also means providing students with a comprehensive and complete experience.
This includes changing the way advising works. It means adopting a new mindset that encourages students to change majors during their junior year. He also mentioned that there are more opportunities off-campus and a new coaching function to make Bradley a better experience.
“If we create a positive environment, students will flock to us. They will choose Bradley. Unfortunately, it will be a significant mental shift in higher education. It’s going to be a challenge for many universities to make that change.”
Standifird stated, “I know that if we get serious and stay focused on identifying today’s needs and interests of students, regardless of whether it’s today or 125 years later, we’ll succeed.”