Value of Higher Education.Faced with the move to online education, students and parents in the U.S. and other countries question the value of costly in-person higher education versus online options. In the U.S., some parent and students are demanding refunds. Unless HEIs address their revenue models, the trend of costly higher education may take a significant toll.
Inertia and Low Innovation.Despite the enormous steps in contingency planning and shift to online instruction, higher education tends to move slow and resists change. Many within higher education believe “we need to return back to the way we’ve always done it.” Entrepreneurial education technology startups move quickly, and higher education will face competition from educational platforms that can meet the needs of learners more quickly than institutions.
Risk Adverse.International student exchange may be considered a liability in the post-COVID world than before. While many HEIs have prioritized internationalization, many HEIs have low risk tolerance for international exchanges. In March 2020, the U.S. State Department issued a Level 4 travel advisory and university legal departments do not allow students to travel to countries with State Department Level 3 or higher travel advisory.
