I am preoccupled about the changing realities of the education market. There is no questions we have arrived at a pivot point, with a tremendous shift occurring in so many areas of our metrics. Just think about it.
Most private schools are experiencing declines in demand, especially at the lower school entry points.
North American domestic boarding is in a state of arrest, with an entire association initiative tied to resurrecting it to some pre-decline level.
Increasing financial aid is being used at nearly all schools, with much of it to retain existing students, not to generate new demand or advance diversity, inclusivity, and equity initiatives.
High levels of investment have been made in strategic enrollment management across the industry, meaning that more schools than ever before have their act together.
Enhanced marketing communications with nearly all schools, meaning that nearly every school has a solid website and greater clarity in their identity.
Each of these items is a symptom of a larger issue. Markets are contracting and schools are having to work harder to sustain themselves. While none of these issues represents a game-changing element for the future, they together contribute to understanding the larger issue.
In the future, education will look different. What will it look like and what will happen to our industry? We will focus on that in our next entry.