The State of EdTech: OPMs, 2U Bankruptcy, and Implications for Higher Ed
Release Date: 08/06/2024
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info_outlinePhil Hill, publisher of the On EdTech newsletter at Phil Hill Associates and EdTech expert, joins Dr. Drumm McNaughton to discuss the current state of educational technology, focusing on the recent bankruptcy of 2U, a major Online Program Management (OPM) provider and its implications for higher education.
Hill shares insights on regulatory changes, the evolving OPM market, and strategies for university leaders to navigate these challenges.
Key Discussion Points
EdTech Landscape and Regulatory Changes:
- Shift in government approach from supporting innovation to increased skepticism towards EdTech vendors.
- New regulations targeting online education, including virtual campus requirements and mandatory attendance tracking.
- Potential overhaul of state authorization reciprocity agreements (SARA) and its impact on cross-state online program offerings.
2U Bankruptcy and OPM Market Implications:
- Analysis of 2U's bankruptcy filing, including debt reduction and ownership transfer.
- Implications for higher education institutions partnering with OPMs, including risk management and reputational concerns.
- The need for institutions to reassess OPM partnerships and consider alternative models for online program delivery.
Cybersecurity in Higher Education:
- Increasing cybersecurity threats in the education sector.
- Shift towards comprehensive solutions from larger vendors for better accountability and insurance coverage.
- Elevation of cybersecurity to a board-level concern, especially for institutions with large endowments.
Future of Online Education:
- Continued importance of online and hybrid education for institutional growth and student access.
- Need for innovation in program delivery while ensuring regulatory compliance.
- Focus on student outcomes and employability to demonstrate the value of online programs.
Strategic Adaptation for Higher Education Institutions:
- Importance of comprehensive risk management strategies covering OPM partnerships, cybersecurity, and regulatory compliance.
- Need for ongoing monitoring of student outcomes and program performance.
- Emphasis on leveraging existing technologies effectively across institutions.
Three Key Takeaways for Higher Education Leaders and Boards
- Implement comprehensive risk management strategies that encompass OPM partnerships, cybersecurity, and regulatory compliance.
- Focus on demonstrating strong student outcomes and program effectiveness in online education.
- Engage actively in regulatory discussions and advocate for institutional interests during negotiated rulemaking and public comment periods.
Final Thoughts
The episode concludes with a call for higher education leaders to stay informed about the evolving EdTech landscape and take proactive steps to manage risks and opportunities. Despite the challenges, online and hybrid education remain critical areas for institutional growth and student access in an increasingly digital and competitive environment.
Read the transcript on our website at: https://changinghighered.com/the-state-of-edtech-opms-2u-bankruptcy-implications/
#EdTech #HigherEducation #OPMs #2UBankruptcy
About Our Podcast Guest
Phil Hill, publisher of Phil on EdTech Blog and partner at MindWires LLC. Phil has been a market analyst and consultant in EdTech for over two decades. He is most notably recognized for writing his blog, On EdTech.
About the Host
Dr. Drumm McNaughton is the founder, CEO, and Principal Consultant at The Change Leader, Inc. A highly sought-after higher education consultant with 20+ years of experience, Dr. McNaughton works with leadership, management, and boards of both U.S. and international institutions. His expertise spans key areas, including accreditation, governance, strategic planning, presidential onboarding, mergers, acquisitions, and strategic alliances. Dr. McNaughton’s approach combines a holistic methodology with a deep understanding of the contemporary and evolving challenges facing higher education institutions worldwide to ensure his clients succeed in their mission.