Additional revenue streams in higher education
Cormican, Beverly Snyder
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Continuing and Professional Education (CPE) represents a growing segment of higher education that can be a valuable source of innovation and revenue. Transitioning a non-credit CPE unit to one with for-credit offerings is one way CPE units can generate revenue growth, but making that shift can take much time and be fraught with many challenges at the institutional level. The purpose of this study is to examine how one CPE unit shifted its program portfolio mix to include offering professional master’s degrees in a changing and challenging economic environment. A single in-depth case study of a CPE unit at a highly selective institution that has shifted its course portfolio to one that includes authority for granting professional master’s degrees was conducted. Four themes emerged from this exploratory case study: leadership, new markets, governance and processes, and new revenue. The outcome, new professional master’s degrees responding to market needs of a new audience of adult learners and producing strong financial results, was the embodiment of a successful transformation.