Below is a pot pourri of ideas that might generate more revenues (or reduce costs) for services. Some involve new services, new fees, or extension of existing services to new clientele for a fee.
Advertise and charge for student services that students use and for which they will pay
Begin building alumni data base for student mentoring programs
Build on-campus housing for faculty
Build on-campus housing for senior citizens
Charge for career counseling services
Charge student services fee to all students
Charge for all requests (after the first request) for evaluation of graduation eligibility
Open the student health center to the public and accept Medicaid
Provide and charge for medical tests at student health services
Open child care center for the college community and the public and charge fees to cover costs
Open selected student services to the public for a fee that covers costs
Open up staff development conferences to outsiders for a fee
Use college’s educational television channel as teleconferencing vehicle and charge for services
“Now, here, you see, it takes all the running you can do, to keep in the same place. If you want to get somewhere else, you must run at least twice as fast as that!” - Lewis Carroll, Alice’s Adventures in Wonderland
KH Consulting Group (KH) started this Know-How site in 2009 to create a forum for sharing ideas on effectively enhancing revenues and containing costs in higher education in the near and longer term.
KH has posted more than 500 ideas. You can join the forum at:
Note: The ideas shared are not prescriptive and will not work in all situations or at all institutions. Some of the ideas are tactical – quick victories to save money in easy ways. Others are strategic, requiring careful analysis before implementing.