Global economic challenges, technological advances and market shifts in higher education have dramatically altered the traditional notions of education across the industry. More and more schools are embarking on partnerships in various forms in order to take advantage of the strengths provided by collaboration with businesses and organizations that are not themselves educational institutions.
Thunderbird School of Global Management is all set to enter into a new strategic alliance with Laureate Education, Inc. The alliance will create a new jointly-owned service provider. The alliance will enable Thunderbird to open multiple, international instructional sites/campuses that will allow students to study outside the United States at permanent campus sites as well as at the historic campus in Glendale, Arizona. However, Thunderbird will remain an independent not-for-profit 501(c)(3) educational institution and continue to offer Masters and MBA programs for individuals who want to lead businesses that cross cultures, time zones and borders.
The jointly-owned service provider will also give access to resources and the development of new online and undergraduate degree programs and expand executive education to new clients, especially in Europe and Latin America.
Over ten years, it is projected that the planned partnership will generate over $100 million in operating surplus for Thunderbird, which can be used to increase scholarship funding, strengthen programs, expand faculty resources and grow the Thunderbird Endowment.