Institutions face significant financial risks due to declining student numbers, funding cuts, and rising costs. Federal policies and economic uncertainty worsen the situation. Deferred maintenance on infrastructure poses a serious, often overlooked threat, with 36% of surveyed chief business officers identifying it as a top risk. Many CBOs express concern about their ability to address deferred maintenance, and only 1% were set to fully fund it. The issue is widespread across various institution types, with public doctoral universities particularly affected.
Declining student numbers, funding reductions, rising personnel costs and policy changes at the state and federal level pose the biggest financial risks to institutions, according to Inside Higher Ed's recent annual survey of chief business officers with Hanover Research.
One in three surveyed CBOs (36 percent) identified infrastructure/deferred maintenance costs as a top financial risk to their institution, just behind state and/or federal policy changes.
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