Recovering revenue and retaining students through pre-collections will determine which institutions can weather the uncertainty facing higher education today.
Cash-strapped institutions are adopting an "entrepreneurial mindset" in driving revenue streams to attract and retain student-athletes in the new era of revenue-sharing.
More than a dozen colleges and universities have announced budget cuts, staff layoffs and tuition increases in June and midway through July to cope with rising budget deficits.
Instead of the existing flat 1.4% tax rate, there is now a new multi-tiered rate of up to 8%, with larger endowments subject to the highest rate. The Joint Committee on Taxation estimates this endowment tax will bring in $761 million over 10 years.
Early projections indicate that tuition discounts for first-time undergraduates during the 2024-25 academic year rose to 56.3%, according to this NACUBO survey.
