BKD Releases Annual Higher Education Outlook for 2021
NATIONAL OFFICE – COVID-19 has changed the way higher education operates. To help colleges and universities tackle current and future challenges, BKD CPAs & Advisors has released its 2021 Annual Higher Education Outlook, a document that breaks down the state of the industry.
In 2020, BKD collected information from more than 100 colleges and universities to create an extensive understanding of recent changes. The outlook includes survey data on what schools are doing to move forward and a summary of observations, conclusions and recommendations for officials.
Cash flow remains a top issue as many athletic conferences have suspended fall sports. Eleven schools have already announced closure—and that number is climbing higher.
“It’s a challenging time for higher education as schools search for new strategies to move forward in our current environment,” said Nick Wallace, a BKD director and contributing author of the outlook. “Recent surveys indicate there has been significant uncertainty regarding enrollment decisions. Reopening campuses is posing new and complicated issues for officials and students. We decided it was important to create a resource that would accumulate and organize the issues institutions are facing, along with insights schools can leverage.”
The outlook provides ideas, tools and strategies to help equip institutions with the resources and knowledge needed to navigate a changing world. The statistics in this outlook are designed to help campuses develop a strategy for their future and focus on actions that can effectively absorb the chaos.
Download BKD’s 2021 Annual Higher Education Outlook at bkd.com/HigherEdOutlook to discover the innovative steps institutions nationwide are taking to move the financial needle and better serve students.