Topic > The Problem of Attrition in Colleges and Universities

INTRODUCTIONIntense competition has made student attrition a concern for colleges and universities. Attrition is costly and generates significant concerns for educational institutions (Tinto, 1993). This is especially true for small schools that do not have large endowments and must depend on tuition and fees to support programming. The loss of students has a detrimental impact on the budget because the costs of recruiting new students are significantly higher than the cost of retaining existing students (Braunstein, Lesser, & Pescatrice, 2006). Small colleges and universities are looking for ways to differentiate themselves from the competition by offering creative programs that meet the needs and desires of students. These schools must therefore recognize and provide what is important to college students (Elliott & Shin, 2002). There are some intangible corollaries to this impact on student satisfaction related to recruiting and fundraising, as well as student retention, which positively impact student outcomes in schools. The key is for schools to identify the determining factors that will provide higher levels of satisfaction in course planning, curriculum components, and interaction with professors. This includes the recognition that high levels of satisfaction indicate that schools are part of the service sector and that greater emphasis needs to be placed on satisfying needs and desires to remain competitive (Letcher & Neves, 2010). This study focused on the determinants as a result of a questionnaire provided to undergraduate students at the University of Saint Francis business school in Fort Wayne, Indiana. The aim was to find promotional determinants that can result in higher levels of satisfaction that can help build loyalty by providing...... half the paper...... of business ownership (Levenburg, Lane, & Schwartz, 2006 ) . The authors suggest that more academic specializations should be considered as a way to expand and promote students' dreams of business ownership. This includes creative curricula that target students from other academic disciplines to take courses as electives or possibly even minors in business programs (Levenburg et al., 2006). Neck and Greene (2011) found that entrepreneurial education is important because it offers real-world experiences. Students can gain valuable practical and entrepreneurial skills that will also be useful when working for large companies. Employers are interested in hiring students who possess these practical skills and are able to immediately contribute to the company mission. The idea is to promote out-of-the-box thinking that fosters creativity and innovation.