By Kylie Lancaster//
Hood College President Debbie Ricker has proposed a new strategic plan that aims to evaluate academic programs based on return on investment.
Ricker said she believes that college programs should be held financially accountable, despite hearing feedback that the term “ROI” does not align well with academic institutions.
“I think we always have to be accountable for the return on investment, specifically the investment that a student makes in their tuition dollars to this college,” Ricker said.
The ROI evaluations she proposes would take place during the academic program reviews that occur every five years. The reviews give academic departments a chance to evaluate how their programs can evolve and assess their future at the institution.
“Often, through this process, many academic programs have continued or have been revised significantly,” Ricker said. “Some academic programs have been discontinued, and that’s always a hard decision to make, but with the discontinuation of a program often will come the ability to reallocate costs or reallocate expenses to support other strategic goals of the college, or could generate savings for the college overall.”
Ricker sees the ROI evaluation as a way for Hood College to be competitive with other institutions.
The president believes that the return is shown through the success of students after they graduate.
“The return, if you will, that is shown through our graduates’ success,” Ricker said. “It’s incredible, and I will stand it up against any college or university, but as a college, we have to be accountable for that, and we should be.”
The proposed strategic plan features six priorities: proving the value of a Hood College education, owning our backyard, focusing and differentiating academically, enhancing the student experience and belonging, ensuring financial sustainability and investing in Hood’s people.
The strategic plan will be presented to the Board of Trustees, which will vote on it at its June meeting.
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