Industry Information about Colleges and UniversitiesThe U.S. higher educational system has remained the desire of the developed world. It plays a critical role in U.S. social and economic life. Higher education schools are the cornerstone of the nation's competitiveness on the world stage. By the twenty-first century, U.S. colleges and universities were progressively coming to resemble traditional business entities by reform operations and insistently competing for students and finances as a way of preserving their strength. National Center for Public Policy and Higher Education (NCPPHE) has further information on the industry of higher education schools.Recent Trends in SchoolsBy the early 2000s, weak economic conditions resulted in business closures, immense workforce reductions, and declining tax bases throughout the United States. This resulted in state budget shortfalls, which affected funding for colleges and universities. During the boom years of the late 1990s, state appropriations for higher education averaged only 8 percent. As government funding declined, colleges and universities increased tuition. Overall, tuition increased 10 percent in 2001-02 at public four-year institutions. However, tuition varies by state. For example, Education Daily indicated that tuition of schools in Massachusetts ramped up tuition by 24 percent; whereas New York merely increased tuition by 2 percent. Tuition also increased with the addition of specific practical skills applied at schools in Pittsburgh for example. Prototypes of these applied science institutions included the Polytechnic Institute of Brooklyn and Cooper Union, and agricultural schools in Michigan and Pennsylvania.Businesses in This CategoryThis category covers colleges, universities, seminaries, and professional schools offering academic courses and allowing those active to earn academic degrees. The minimum requirement for admission in this type of schooling is a high school diploma or equivalent academic education.
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