Tag: boom

  • Coach Buyouts Boom to Record Highs

    Coach Buyouts Boom to Record Highs

    Earlier this year, Pennsylvania State University announced it would close seven campuses due to financial constraints, while Louisiana State University implemented a hiring freeze and other cost-cutting measures.

    Months later both institutions fired their head football coaches—for a price. Despite Penn State’s financial challenges, administrators were willing to pay more than $45 million to make head coach James Franklin go away after the Nittany Lions posted a 6-3 record. LSU fired Brian Kelly after a 5-3 start and gave him a buyout of $54 million.

    Franklin’s total buyout was ultimately reduced to $9 million when he landed the head coaching job at Virginia Tech, and Kelly’s exit package will also shrink should he find another position. But the eye-popping compensation numbers are adding up—and setting new records at a time when many colleges and universities are cutting costs.

    Record Buyouts

    Recent data compiled by the Knight Commission on Intercollegiate Athletics shows that failing is a lucrative business for college football coaches. Fifteen fired football coaches have already racked up collective buyouts of nearly $228 million from public universities, compared to $120 million in fiscal year 2024. (Those totals are for Football Bowl Subdivision coaches only, formerly known as Division I-A, and only include public universities, since private institutions don’t release such contract details.)

    Former LSU coach Brian Kelly landed one of the largest buyouts in the history of college sports.

    Gus Stark/LSU/University Images/Getty Images

    The Knight Commission noted that individual coaching buyouts this year “are the second, third, fourth, and fifth highest severance pay obligations in history.” The top slot still belongs to Texas A&M University, which fired Jimbo Fisher in 2023 with an exit package of more than $75 million.

    Looking across a longer timeline, the commission estimates that universities shelled out a total of $852 million in severance pay for football coaches, including assistants, between 2012 and 2024.

    University Responses

    Universities often stress that coaching buyouts are paid with donor funds, not public money. Even so, some experts argue that paying vast sums of money to fire coaches is problematic and damages faculty and staff morale, especially at universities that are slashing jobs and budgets.

    Penn State defended its recent buyout to Inside Higher Ed by emphasizing that its athletic program is among the few in the nation “that is self-sustaining and therefore does not use any tuition or taxpayer dollars.” In addition, the university said, it has a major economic impact on the surrounding area.

    “Decisions regarding budgets and operations of the academic enterprise are separate and distinct,” a spokesperson wrote in an emailed response to a question about closing rural campuses across Pennsylvania. “As noted, no tuition or tax dollars are used for athletics. The difficult but necessary decisions Penn State has made impacting campuses and unit budgets, have been made with a core focus on setting our students up with the best opportunities for success.”

    LSU did not provide a statement to emailed questions prior to publication.

    Congressional Scrutiny

    While Congress has deliberated capping pay for college athletes—whom institutions can now pay directly, as of earlier this year—Knight Commission on Intercollegiate Athletics CEO Amy Privette Perko has encouraged lawmakers to rein in coaching salaries.

    “As Congress debates the merits of federal legislation to place limits and guardrails on college athlete compensation, it should also examine the conditions that allow for the continued growth of excessive compensation and severance for football coaches at non-profit universities,” she said in a statement accompanying the organization’s report on buyouts.

    Some members of Congress appear interested in taking on runaway salaries and buyouts.

    In October, Representative Michael Baumgartner, a Washington Republican, introduced the Correcting Opportunity and Accountability in Collegiate Hiring Act, a proposal that would cap annual pay for all athletics department employees. Baumgartner’s proposed bill would limit annual pay to no more than 10 times the cost of in-state tuition for undergraduate students.

    While new LSU coach Lane Kiffin is set to make $13 million a year, his annual salary would be dramatically lower—about $280,000—under the pay scheme proposed by Baumgartner.

    Multiple state attorneys general have already voiced opposition to the proposal.

    Lane Kiffin speaks at a press conference as he is introduced as the new head football coach of the LSU Tigers. He is a white man with short brown hair, wearing a blue suit with a purple tie and patterned shirt.

    New LSU coach Lane Kiffin is poised to make $13 million a year.

    Tyler Kaufman/Getty Images

    Some lawmakers have also questioned whether college sports should remain tax-exempt. Senator Maria Cantwell, a Democrat representing Washington, wrote a letter to the Joint Committee on Taxation earlier this year, seeking an analysis of the implications of stripping the NCAA, member institutions and athletic conferences of their ability to continue as tax-exempt organizations.

    “Given the evolving market dynamics of college sports coupled with changes in the legal framework affecting college athletes, legitimate questions have been raised about whether it is time to rethink the tax-exempt regime under which college sports currently operates,” she wrote.

    But so far, legislation to alter the college sports landscape has proven difficult to pass. The latest effort to overhaul athletics—which would have limited student transfer eligibility and how much universities can spend on name, image and likeness deals—collapsed short of the end zone last week when House members balked on the GOP-backed bill and sponsors pulled it from a vote.

    Source link

  • Coppin State’s Tuition Program Led to Enrollment Boom

    Coppin State’s Tuition Program Led to Enrollment Boom

    A historically Black university in Maryland says efforts to boost enrollment and up its name recognition are paying dividends, allowing it to more than quadruple out-of-state student enrollment over the past two years.

    Coppin State University in Baltimore announced in 2023 that it would begin offering in-state tuition to any student who lived in one of the 41 U.S. states and territories without an HBCU—as well as the District of Columbia, which has two HBCUs—through a program called Expand Eagle Nation. In 2024, the first year of the program, the institution more than doubled the number of students from qualifying states to 195—up from 81 the previous fall. (Coppin’s in-state annual cost of attendance is $27,410, versus $34,474 for out-of-state students.)

    This fall, the numbers increased even more dramatically: 416 of Coppin’s incoming class of 1,000—its largest freshman class in 25 years—come from the qualifying states. Overall, Coppin’s enrollment is up 26 percent this year, including growth on the in-state side, as well. In fact, James Stewart, associate vice president for student development and achievement, said the attention Coppin has received for its Expand Eagle Nation program has raised the university’s profile among local students.

    Still, it’s been a major shift for the institution, which used to attract students primarily from within a 50-mile radius.

    “I think our students enjoy the diversity of thought from so many different regions,” said Jinawa McNeil, the university’s director of admissions. “This is really giving opportunity to students, but it’s [also] making Coppin a different environment, where you traditionally were with students that you might have went to high school with, or maybe a high school not far from you, but now you’re talking to students who are literally from states that you’ve never been to.”

    Coppin’s growth comes at a time when many institutions across the country are working to attract new populations of students ahead of the impending demographic cliff—the decline in high school graduates that is expected to begin next year. (The Maryland Higher Education Commission projected earlier this year, however, that Maryland will be one of the few states to buck the trend, projecting an 11 percent increase in high school graduates from 2024 to 2031.)

    Coppin isn’t the only institution looking to out-of-state students to boost enrollment; in an interview earlier this fall, University of Connecticut officials attributed their growth in head count to more out-of-state name recognition due to the institution’s academic programs and popular sports teams, for example.

    “Given the declining number of students in their own state, [colleges] have to chase them elsewhere,” said Gregory Price, a professor of economics at the University of New Orleans who studies the economics of HBCUs. “It’s sort of like an arms race.”

    Coppin is also capitalizing on the current popularity of HBCUs, which saw significant increases in applications and enrollments following the Supreme Court’s 2023 ban on affirmative action in admissions.

    “Everything that’s been going on politically, from affirmative action to DEI, sends a message to Black students that they don’t belong,” Henry Williams, president of the Thurgood Marshall College Fund, a nonprofit that advocates for public HBCUs, told Inside Higher Ed regarding the trend last year. “At an HBCU, you’re never going to have that question, and all of the support, resources and scholarship money being taken away elsewhere are already built into the structure [at HBCUs] … there’s value in a sense of belonging.”

    Price noted that HBCUs are also often cheaper than other institutions—as is the case at Coppin, which says it’s the least expensive institution in Maryland. That’s because historically, HBCUs haven’t had large research enterprises, which saves the institutions many costs, he said; they can also attract faculty without paying salaries above market rate.

    “To the extent HBCUs have a distinct value proposition for Black students, that could be good because there aren’t many HBCUs … and that value proposition is high returns in the labor market relative to the cost of attendance,” he said. “If you can reduce the costs, you could probably stay ahead of that demographic cliff longer than other colleges can.”

    Bolstering Recruitment

    Along with offering in-state tuition to out-of-state students, Coppin officials took a slew of steps to increase their presence in the states from which they hoped to attract students. That included visiting high schools—and plastering advertisements on buses and billboards in those cities ahead of their visits, so students would hopefully already recognize the Coppin brand by the time they met an admissions official.

    The university formed transfer partnerships with community college systems in Colorado and California, and the admissions team reached out to regional organizations that help students in the college search process to ensure their staffs were aware of Coppin.

    Increasing the university’s name recognition was an important goal of the Expand Eagle Nation program, McNeil said.

    “It [used to be] a much harder recruitment sale, for lack of a better term,” she said. “We were beginning with who were as an institution, rather than saying, ‘Oh, you’ve heard about us, so let’s help you learn more.’”

    Stewart also noted that the university was prepared for the enrollment boost, having met with academic affairs staff over the past year to ensure there would be enough courses and faculty to meet the needs of all students. To house the influx, Coppin is currently constructing a new dorm, slated to open next fall; it also has six off-campus apartment facilities that Stewart said include resident assistants, just like on-campus housing, and regular shuttle access to campus.

    “We’re going to end up with a good mix where we increase our housing on campus, especially, to meet our new students, but we have options for our [upperclassmen] off campus that give them this blending of what real-life living in an urban environment is,” he said.

    One unexpected challenge that has come with implementing Expand Eagle Nation? Convincing prospective students that the offer is real.

    “They [don’t] believe it,” McNeil said. “Like, ‘What’s the trick, what’s the catch?’ They just don’t believe an institution was willing to invest that deeply, because students understand, and definitely parents of students, specifically parents that have been to college and might have some college debt. They just did not believe that this was an opportunity, because they don’t see too many opportunities like this.”

    Source link

  • Three Florida unis harnessing the Hispanic population boom

    Three Florida unis harnessing the Hispanic population boom

    As the face of education continues to undergo a rapid evolution, some institutions in the United States are pioneering innovative approaches to meet the diverse needs of their learners. What sets these institutions apart is their strong ties to established universities in Latin America and Spain, with international accreditations and faculty from around the world.

    These institutions are not only providing world-class education but also addressing unique market needs through distinctive programs and methodologies. This is happening in a big way in Florida – and it’s time to pay attention.

    The Hispanic power in Florida: business, economy, entrepreneurship, and education

    According to the Florida State Hispanic Chamber of Commerce, there are over 604,000 Hispanic-owned businesses in Florida that contribute USD $90 billion to the state’s economy each year. Florida has been ranked the number one US state for entrepreneurship. Combine that with the fact that Florida is the gateway to Latin America and the Caribbean, and you’ve got yourself a state with a promising entrepreneurial spirit.

    Here are the universities that are leading the charge. They’re doing all the right things and it’s time to closely observe

    Miami-Dade County alone is home to over 1,200 multinational companies to have set up their Latin American headquarters in the area. Some 30% of all businesses in the county are run by people of Hispanic descent. This is a massive industry that’s growing at a rapid pace and demands highly educated professionals who can keep up with it all. This is a dynamic, entrepreneurial and young Hispanic community.

    So, what are Florida’s institutions doing differently? They are agile, forward-thinking, and constantly evolving – meeting the needs of Hispanic students in Florida and beyond who want to study at their own pace and in a way that fits their lives.

    Here are the universities that are leading the charge. They’re doing all the right things and it’s time to closely observe.

    1. MIU City University: affordable, flexible, and global

    MIU City University has been around since 2019. Founded by Grupo ProEduca and UNIR in Spain, MIU City University offers online and hybrid programs that cater to busy professionals.

    With programs in cybersecurity, computer science, digital marketing, business intelligence, educational innovation, and others, MIU City University offers affordable certificates and degrees with a proven online model recognised by global rankings. Its global reach with students from over 90 countries makes it the perfect institution for those who want to connect with a worldwide network of professionals.

    What sets MIU City University apart is its focus on practicality. Students are learning the exact skills that today’s employers are looking for, whether it’s in business, tech, or marketing. And with remote work on the rise, these programs make it easier than ever to combine work, study, and life.

    2. CUC University: flexible programs for remote workers who need to study

    CUC University, founded in 2021 by Universidad de la Costa in Colombia, is another institution breaking the mould. They offer online programs designed for students who are working alongside their studies. CUC has designed its courses to be flexible so students can study on their own time with faculty from around the world.

    A good example of its offering are programs in international business administration, marketing, mass media communication, media technology, and entrepreneurship. These programs are designed for working professionals who need to level up. With over 53 years of academic excellence, CUC is the perfect mix of legacy and innovation.

    Its partnerships with private and public organisations help students connect with the right people who are looking for professionals ready to compete in the global marketplace or start their own venture.

    3. Panamerican University: a global business experience

    And then there is Panamerican University, founded in 2022 by Panamerican Business School from Guatemala, already flexing its global muscle. With 25 years of experience and partnerships with over 700 companies across 20 countries, 800 faculty from over the world, it’s offering programs designed to today’s economy.

    It offers programs in business administration, digital marketing, and international and sustainable business, among others. Its students can obtain global certificates in dynamic and multicultural cities like Dubai, Stockholm, Singapore, Madrid, Tokio, and Miami.

    And let’s not forget it’s got over 350,000 alumni who are spread out all over the world, which connects its students with an international network of professionals.

    Why these universities are changing the game

    These institutions have identified gaps and the needs of the non-traditional Hispanic students in Florida; working professionals who are trying to balance career and family, people who need a degree, professional development, continuous learning, and upskilling to keep up in a rapidly changing world.

    They’ve filled those gaps with flexible and practical offers. They’re serving a growing Hispanic student population – both domestic and those from their international biosphere – a segment that is hungry for opportunities to grow. They are partnering with companies, international organisations, governments, providing real-world skills, a worldwide network, and the flexibility to study from anywhere.

    I am impressed by these innovative institutions and their rapid pace of growth. I have just shown three examples, but there are more institutions doing great things that have been here for a while. Some of them are opening new campuses and branches, with in-person, online and hybrid models: Ana G. Méndez University- Puerto Rico, Nexus University; Universidad Mayor Chile, Westfield Business School; Prisma Education Group Colombia, Broward International University; San Ignacio University; USIL Peru, Albizu University; Puerto Rico, GAIA University, Guatemala, to name just a few.  

    These institutions offer flexibility, affordability, global exposure, and a focus on practical skills for today’s workforce. They’re not just educating students; they’re connecting them to a global ecosystem of professionals, alumni, and companies that are ready to hire.

    It’s time to pay attention to what these universities are doing. They’re a novel example that education can be tailored to the needs of the students and the world they’re entering. The future of higher education is here, and it’s fast, flexible, and ready to break all the rules. And it’s so exciting that this is happening here in the Sunshine State.

    Source link