Declining enrollments, increased inflation, and reduction in federal recovery aid have increased pressure on colleges and universities. While business officers reported that they are slightly less hopeful than they were in 2021, most are cautiously optimistic for their institutions’ financial stability and do not anticipate dramatic changes in how they operate. Read the report to gain insight on higher education leaders' expectations for the future.
Key findings include:
- Seven in 10 business officers are confident their institution will be financially stable for the next five years
- About two-thirds of business officers agree that their institution is in better financial shape now than it was in 2019
- More than two-thirds of business officers agree (17 percent strongly) that the pandemic has created an opportunity for their institution to make institutional changes they have been wanting to make anyway.
Inside Higher Ed’s 2022 Survey of College and University Business Officers was conducted by Hanover Research. The survey included 238 chief business officers from public, private nonprofit and for-profit institutions.