Higher education must implement new ways of achieving social justice and performing the business of education to survive the impending shakeout stemming from increasing competition for enrollment, operating costs, and price sensitivity plus decreasing state aid, net tuition, endowment income, and college-bound high school graduates. Universities that survive the shakeout will achieve financial sustainability, educational excellence, and social justice while providing equal educational opportunity and resource equity by implementing the book’s best practices, strategies, and holistic budgeting model.
Stephen Coffin, PhD, MBA, MPA, is adjunct professor of school finance for Montclair State University’s Graduate School of Education, has taught school finance as a part-time instructor for Rutgers University’s Graduate School of Education, and has taught doctoral students higher education finance and economics as well as school finance as an adjunct instructor for Fordham University’s Graduate School of Education. Dr. Coffin’s research focuses on education finance and economics, charter schools, community economic development, educational business administration, equal educational opportunity, and resource equity.
Foreword: The Best of Times, The Worst of Times — William Thro, J.D., MA
Section I: Value Proposition
Section II: Next Generation: Financial Management and Leadership
Section III: Innovation
Section V: Conclusion
Higher education's looming collapse: Using new ways of doing business and social justice to avoid bankruptcy is a prescient read on the status of institutions of higher learning during the troubling times confronting the United States and world. COVID-19 threatens the very existence of many smaller colleges and universities as it creates financial difficulties for even larger institutions of higher education. Further, political divisions between and among students and faculty members create havoc on campuses. In light of these, and other challenges facing colleges and universities, the chapters and insightful analysis in Higher education's looming collapse is a must read as it provides food for thought for all interested in the survival of American colleges and universities.
Stephen Coffin has written the definitive book on Higher Education for the 21st century. As colleges and universities are closing their doors in light of declining enrollments and increasing costs, Dr. Coffin’s edited compendium presents a comprehensive overview of how to establish financial stability and operational excellence in today’s dynamically changing times. His model of holistic budgeting can forestall bankruptcy and put institutions of Higher Education on a healthy financial footing. Chapters deal with the all-important topics of diversity and equity, financial aid and student debt, strategic fund raising and alternative programs. Definitely a must read for educators, foundations, parents and students.
Dr. Coffin’s creation, his N.A.P.E.R. proprietary budgeting model, gives K-12 and higher education the cutting-edge approach to improve financial, material, and human resource allocation, acquisition, and decision-making processes, which will enable universities as well as K-12 school districts to survive the looming shakeout while providing equal educational opportunity and social justice.