The purpose of a business is simple: to generate profit. This may be why educators bristle at the thought of evaluating universities as businesses and incorporating business models into higher education.
During difficult financial times, universities are forced to make difficult decisions similar to those of a business. They must analyze their revenue and expenses and then decide whether to make cuts to balance their budgets.
Even though educators may cringe at the thought of being in the higher education business, as OnlineColleges.net reveals in a new infographic, the business of higher education does exist.
The infographic compares the nation’s top universities by looking at their acceptance rates, annual tuition, number of students, and sources of revenue and expense.
Here are some notable takeaways:
Check out the infographic below to learn more about the business of higher education.