Everyone in higher education knows the story of Jones International University. Way back in 1993, it became the very first fully online, regionally accredited university.
By the early 2000s, the school began offering fully online bachelor’s, master’s and even doctoral programs. But, as it turned, the school was well ahead of its time and woefully unprepared for its competition.
You see, by the mid 2010’s, the schools’ enrollment plummeted by over 50%, leading to it having to eventually shutter its virtual doors in 2015.[1]
This, as other primarily/fully online colleges grew enrollments substantially.
But the story of Jones International University is not a sad one, really. It’s more a story of a great idea coming a bit too soon. And it’s also a story of an online college not seeing/ignoring the competition it was facing. It was perhaps this oversight that led to its destruction. More on this in a moment.
First…
Today, more than three decades after Jones opened (and a decade after it shuttered), online college is now more popular as ever; and may now be the preferred way for students to earn a degree.
In fact, enrollment numbers aside, the industry is growing at a phenomenal rate.
According to Global Growth Insights (GGI), a market analysis firm, the global online higher ed market (online college) is estimated to be valued at $24.5 billion this year and could reach $70.7 billion by 2034; representing a compound annual growth rate (CAGR) of nearly 12.5%.[2]
For some perspective, the CAGR of online higher ed now eclipses that of the cybersecurity industry.[3] Online college has become that big.
GGI now says that “over 58% of global learners prefer online platforms” for their higher education…
And in the US, the market is experiencing “substantial” momentum. 61% of US students now opt for either hybrid or fully online classes, with 62% of online students accessing class via mobile devices.
Now, if you operate a primarily online institution of higher education, chances are you’ve been witness to this growth. Hopefully, you’ve been a part of it.
However, even though the industry as a whole is indeed growing, and growing rapidly, some primarily/fully online colleges may end up as Jones International University did. Closed.
Why?
Well, like Jones, a number of online colleges are ignoring their competition and not fully investing in new student enrollment initiatives.
A rising tide does not lift all boats. It only lifts boats that are seaworthy. All others sink.
You see, as the online college industry is flourishing, more and more competition is entering the field. Nearly every large university now offers fully online degrees…
Meaning more institutions are competing for the students your school should be enrolling.
Now, remember the compound annual growth rate (CAGR) we shared for the online higher ed market? 12.5%?
It’s fantastic, yes. But it’s not good news for everyone.
You see, estimates show that the US population is only growing at a 0.5-1.0% rate. Meaning more schools are competing for a relatively unchanged number of new prospective students.
Survival in this competitive market comes down to enrolling and retaining as many qualified students as possible.
It comes down to filling your student pipeline with new EDU leads.
It comes down to partnering with Conversion Media Group, a national leader in higher education enrollment initiatives.
Give us a call at 1-800-419-3201 and we’ll explain exactly what we can do for you.
[1] Jones International University to Shut Down | Next TV | Multichannel News
[2] Online Higher Education Market Forecast 2025–2034
[3] The Godfather Of Amenities: How One Broker Puts Brands On The Map And Built A $300-Million-A-Year Business