- March 3rd, 2007, 10:12 am
#65459
Yet another reason I'm a DLP-backer at LU:
LU online student enrollment uphttp://www.newsadvance.com/servlet/Sate ... ws!archive
Ron Brown
rbrown@newsadvance.com
March 3, 2007
Liberty University’s distance learning program is on pace to exceed its 2006-2007 revenue projections by more than $13 million.
And the program, which allows students to enroll at the university and take college courses via the Internet, is taking in almost 10 times more money than it was just six years ago.
School officials said distance learning, which has a lower overhead than traditional residential education, could eventually enable the 36-year-old school to build an endowment once the university reaches a self-imposed cap of 25,000 residential students.
Currently, money gleaned from distance learning students helps pay for infrastructure - such as parking lots, roads, dorms and dining halls - to support LU’s booming residential population.
At its current growth rate, the Lynchburg school would have 20,000 students on campus by 2020.
Originally, the Rev. Jerry Falwell, LU’s chancellor and co-founder, set a goal of having 25,000 students in both residential and distance learning programs.
Last year, the federal government changed its guidelines, enabling LU and other schools to build an unlimited distance-learning enrollment. Previously, distance-learning enrollments could not exceed a school’s residential enrollment.
For-profit colleges, like the University of Phoenix, now have several hundred thousand distance-learning students enrolled.
This year, LU’s distance learning programs will net about $21 million compared to $12 million in school year 2005-2006.
Gross revenue has increased from $30.4 million last year to a projected $54 million this year. Budget projections last spring predicted the program would bring in about $40.8 million.
“Older schools have an endowment that generates income,” said Jerry Falwell Jr., LU’s vice chancellor. “With Liberty, we have a distance learning program that helps generate additional income to help close the gap between what it costs us to educate a student and what we receive in tuition and fees.”
On the other hand, the distance-learning program is enhanced by its association with a fully accredited university with a growing residential population, Falwell Jr. said.
Distance learning students benefit by getting a college education at far less cost than that of a traditional residential education.
Ron Godwin, LU’s executive vice president and chief operating officer, said the surge in revenue mirrors increases in both the number of students and the number of credit hours students take.
LU’s distance learning program had 12,852 students enrolled in school year 2005-2006 compared to a projected 16,400 this year.
This year’s enrollment represents a 28 percent increase compared to a 13 percent increase last year. The enrollment has more than doubled since 2003.
Last year, distance learning students paid for roughly 134,000 cumulative credit hours of work compared to a projected 200,000 hours this school year.
“In every category, we’re experiencing very dramatic growth,” Godwin said.
Godwin said the program now has complete degree programs, which have courses following each other sequentially to allow students to make unimpeded progress toward a degree.
“We previously sold a lot of individual courses,” he said. “But we didn’t sell programs of courses.”
Don Moon, LU’s chief financial officer, said improved degree offerings have helped with student retention.
“They set the student on a degree course, which keeps them moving along,” he said. “That reduces the recruiting cost because you keep that person on board. You don’t give them lag time, where they might lose interest. It helps keep the students focused.”
In order to make the degree programs work, the university had to convert 84 traditional classroom courses to the distance learning format.
“With those changes, we went from offering two programs of study in distance learning to over 30 full degree programs,” Godwin said.
The next challenge was to find 120 adjunct professors to support the degree programs.
Godwin said he contacted a Liberty graduate who was a partner in an employment agency in Atlanta.
“We asked for the professors to share our faith and practice as well as have degrees in their particular discipline,” Godwin said.
The employment agency received about 1,000 applications.
“We redesigned our catalogs to reflect our broader array of offerings,” Godwin said. “When we put more products on the shelves, people started buying them in much greater numbers.”