One of my assignments at Teachers College was to research a topic of importance to me in my work as Head of School. I chose to study the financial sustainability of schools. I conducted a literature review and wrote about the topic, exploring the research in both independent schools and in higher education. Escalating tuition and challenging financial times has become a central issue for schools across the country, and though I am proud that Newman has been examining this issue critically for several years now, I wanted to explore the concept in more depth. Here is a short excerpt from my paper which explains the need for further study in the field:
Schools everywhere are discussing this predicament. At a recent panel discussion at the NAIS annual conference on the financial sustainability of schools, each speaker shared thoughtful and intelligent ideas on how to deal with the ever-increasing tuitions in our schools. But when they were asked which schools have seen success in the implementation of these strategies, various panel members replied with some version of, “The case studies are not complete” (NAIS/NBOA Town Hall Meeting, 2011). This is an evolving field of study, but this may be the most critical issue we face in independent schools today.