Increasing The Bottom-Line With Online Academic Programs
According to reports from Chronicles of Higher Education and the Department of Education, for the past several years, online enrollments have been growing substantially faster than overall higher education enrollments (9.7 percent growth rate for online enrollments compared to the 1.5 percent growth of the overall higher education student population).
ß A large majority (69%) of academic leaders believe that student demand for online learning is still growing.
ß Virtually all (83%) institutions with online offerings expect their online enrollments to increase over the coming year.
Why the Growth in Online Programs?
The two primary reasons cited for this growth in online programs are 1) the
Commitment of schools to increase their enrollment and 2) the response
of students who like the convenience online courses provide.
Top Five Reasons to Consider Online Programs...
1. Increase Enrollment & Tuition
Bottom line: More students = more tuition.
2. Increase Appeal to Students
Many Bible colleges and seminaries emphasize a missions-minded focus in their mission statements. Online academic programs are vehicles that will help the institution to fulfill this mission.
With online programs, schools can appeal to students with technology affinity (such as the kids graduating from High School today) by projecting an image of a forward-thinking institution. They can also appeal to students with non-traditional schedules (pastors, etc.), Citizens of other countries (without the hassle of dealing with I-20s), missionaries in other countries, and former students needing to complete degrees.
3. Increase Appeal to Alumni
Staying connected with your alumni will increase your chances of getting the donations you need and bringing them back to the school (online or on-campus) to further their education.
With online programs, schools can appeal to former students who came for an undergraduate degree, but might be interested in coming back to complete a second degree and former students who never completed a degree. Schools can also appeal to former students with continuing education webinars that are pertinent to their lives and their jobs. (A social network can also build relationships among your alumni and provide resources for them as they grow in their careers.)
4. Increase Student Access
By placing everything online, your school lets students know that everything they need to complete their degree is available at all times and from anywhere in the world.
5. Save Money on Overhead
While schools will probably never become completely paperless, an LMS coupled with an online academic program, will eliminate many of the overhead costs associated with classes.
With online programs, schools can save money by reducing copying costs (all material can be placed online and available to students for download), by reducing burden on professors and lowering faculty over-time fees, and by paying adjunct professors to teach online courses, and by adding as many courses as you’d like, without worrying about space, utilities, or janitorial services.
For detailed information on implementing online academic programs or moving correspondence courses online, please contact Scholar360 at www.scholar360.com or call 866-458-0360.