Colleges in Dire Financial Straits

[rth253]

Thanks for the information on Erskine and Lyon. I'm wondering how to interpret the Erskine data in light of recent data like this, which seems very positive in terms of enrollment? https://www.erskine.edu/2019/08/30/trustees-meet-during-first-week-of-record-breaking-semester/

[secundem_artem]

I find it interesting that so many on the conservative right are not supportive of colleges for fear that their children will be indoctrinated by all us chardonnay sipping, Birkenstock wearing, Volvo driving liberals  into becoming communists, or atheists, or lesbians or something.

Any yet, there are dozens of faith based schools circling the drain for lack of students.  If parents want to have their kids educated, but not expose them to the evils all us secular humanists pose, why are they not knocking down the doors of colleges that will  be supportive of their faith, while still providing a leg up to join (or stay in) the middle class?

[spork]

Thanks for the information on Erskine and Lyon. I'm wondering how to interpret the Erskine data in light of recent data like this, which seems very positive in terms of enrollment? https://www.erskine.edu/2019/08/30/trustees-meet-during-first-week-of-record-breaking-semester/

An incoming class that doubles enrollment? Something is amiss. Maybe the endowment is being plundered to jack up the tuition discount. Maybe retention will be terrible because the new students are not college ready.

[rdonovantin]

More news from South Florida... will this work? Lots of people excited about football down here

"Anytime you come to a struggling institution, you are operating on deficits, and money is an issue," Armstrong said. "But I explained to them that if you do it correctly, you don't need money. The money will come through the operation of the team and from all the students who are paying tuition who otherwise wouldn't be here.

https://www.miamiherald.com/sports/college/state-college-sports/article234659207.html

In the meantime, more and more valuable faculty and staff have left or been terminated

[lightning]

More news from South Florida... will this work? Lots of people excited about football down here

"Anytime you come to a struggling institution, you are operating on deficits, and money is an issue," Armstrong said. "But I explained to them that if you do it correctly, you don't need money. The money will come through the operation of the team and from all the students who are paying tuition who otherwise wouldn't be here.

https://www.miamiherald.com/sports/college/state-college-sports/article234659207.html

In the meantime, more and more valuable faculty and staff have left or been terminated

I would really love to see the business plan, with financial projections, especially where the revenue is going to come from. What percentage will be from ticket sales and who would be the paying fans at the game, for example? I certainly hope the business plan has some valid market research (primary data & not the BS that all athletic departments, in general, spew out) to backup the assumptions that the president has made. Otherwise this is going to be a very expensive learning experience. What scares me about this president's plan is that his assumptions seem to be based on his personal experience with football. Hail Mary business plan?

[apl68]

I find it interesting that so many on the conservative right are not supportive of colleges for fear that their children will be indoctrinated by all us chardonnay sipping, Birkenstock wearing, Volvo driving liberals  into becoming communists, or atheists, or lesbians or something.

Any yet, there are dozens of faith based schools circling the drain for lack of students.  If parents want to have their kids educated, but not expose them to the evils all us secular humanists pose, why are they not knocking down the doors of colleges that will  be supportive of their faith, while still providing a leg up to join (or stay in) the middle class?

I'm a little reluctant to respond to this, given the obvious hostility expressed here toward those of us who care about faith-based colleges, but here are some ideas:

1.  Some religious denominations have shrunk a great deal in recent decades, and so may now have more college infrastructure than they really need.

2.  On a related note, many religious colleges are located in regions where there are many schools--religious and otherwise--and declining demographics.  Since most of these weren't rich schools to begin with, any decline in enrollment is a bad development.  By contrast, my denominationally-affiliated alma mater is in a region where there is less competition, and so far seems to have kept its enrollment and finances in good shape.

3.  Some parents who might want to send their children to religiously-affiliated schools simply can't afford to do so any more due to rising tuition.  It's the region's cheaper state-supported school or nothing.  I know such parents.

4.  Others have decided to try the online degree alternative, and unfortunately a couple of big schools like Liberty now seem to have that all sewn up.

5.  At some religiously-affiliated schools the affiliation is more of an historical artifact than a living faith tradition.  This gives the school a less distinctive "brand"--now, instead of filling a clear niche, it's just another no-name little private school.  IIRC polly's "Super Dinky College" had this problem.  Families for whom the religious affiliation was important felt that the school had watered down its beliefs, yet paradoxically there were other prospective students who thought even a vestigial religious affiliation was a turn-off.

[spork]

[. . .]

affiliation is more of an historical artifact than a living faith tradition.  This gives the school a less distinctive "brand"--now, instead of filling a clear niche, it's just another no-name little private school. 

[. . . ]

Ding! We have a winner.

More news from South Florida... will this work? Lots of people excited about football down here

"Anytime you come to a struggling institution, you are operating on deficits, and money is an issue," Armstrong said. "But I explained to them that if you do it correctly, you don't need money. The money will come through the operation of the team and from all the students who are paying tuition who otherwise wouldn't be here.

https://www.miamiherald.com/sports/college/state-college-sports/article234659207.html

In the meantime, more and more valuable faculty and staff have left or been terminated

I would really love to see the business plan, with financial projections, especially where the revenue is going to come from. What percentage will be from ticket sales and who would be the paying fans at the game, for example? I certainly hope the business plan has some valid market research (primary data & not the BS that all athletic departments, in general, spew out) to backup the assumptions that the president has made. Otherwise this is going to be a very expensive learning experience. What scares me about this president's plan is that his assumptions seem to be based on his personal experience with football. Hail Mary business plan?

St. Thomas is one of those no-name, little private schools without a niche anymore. It's ten minutes away from the north campus of Miami Dade College, which is possibly the largest community college in the country. I will guess that that number of Miami Dade transfers that St. Thomas gets is effectively zero.

[secundem_artem]

I find it interesting that so many on the conservative right are not supportive of colleges for fear that their children will be indoctrinated by all us chardonnay sipping, Birkenstock wearing, Volvo driving liberals  into becoming communists, or atheists, or lesbians or something.

Any yet, there are dozens of faith based schools circling the drain for lack of students.  If parents want to have their kids educated, but not expose them to the evils all us secular humanists pose, why are they not knocking down the doors of colleges that will  be supportive of their faith, while still providing a leg up to join (or stay in) the middle class?

I'm a little reluctant to respond to this, given the obvious hostility expressed here toward those of us who care about faith-based colleges, but here are some ideas:

1.  Some religious denominations have shrunk a great deal in recent decades, and so may now have more college infrastructure than they really need.

2.  On a related note, many religious colleges are located in regions where there are many schools--religious and otherwise--and declining demographics.  Since most of these weren't rich schools to begin with, any decline in enrollment is a bad development.  By contrast, my denominationally-affiliated alma mater is in a region where there is less competition, and so far seems to have kept its enrollment and finances in good shape.

3.  Some parents who might want to send their children to religiously-affiliated schools simply can't afford to do so any more due to rising tuition.  It's the region's cheaper state-supported school or nothing.  I know such parents.

4.  Others have decided to try the online degree alternative, and unfortunately a couple of big schools like Liberty now seem to have that all sewn up.

5.  At some religiously-affiliated schools the affiliation is more of an historical artifact than a living faith tradition.  This gives the school a less distinctive "brand"--now, instead of filling a clear niche, it's just another no-name little private school.  IIRC polly's "Super Dinky College" had this problem.  Families for whom the religious affiliation was important felt that the school had watered down its beliefs, yet paradoxically there were other prospective students who thought even a vestigial religious affiliation was a turn-off.

I apologize for my tone and would express my thanks for taking the question seriously.  Thanks for your response.

[Parasaurolophus]

I don't think we mentioned this one yet:

Marlboro College (in Vermont) is merging with the University of Bridgeport (in Connecticut). Marlboro's been losing enrollment for some time now; IIRC, its sweet spot was between 200-300 students, but it hasn't had that many in years. That said, those are two very different institutions, with completely different missions.

The move might just save it. Or just postpone the end. Which is too bad, because it was (and is) a pretty cool institution, with an increasingly rareified mission.

[archaeo42]

I don't think we mentioned this one yet:

Marlboro College (in Vermont) is merging with the University of Bridgeport (in Connecticut). Marlboro's been losing enrollment for some time now; IIRC, its sweet spot was between 200-300 students, but it hasn't had that many in years. That said, those are two very different institutions, with completely different missions.

The move might just save it. Or just postpone the end. Which is too bad, because it was (and is) a pretty cool institution, with an increasingly rareified mission.

That was mentioned on pages 7&8 of this thread.

[Parasaurolophus]

I don't think we mentioned this one yet:

Marlboro College (in Vermont) is merging with the University of Bridgeport (in Connecticut). Marlboro's been losing enrollment for some time now; IIRC, its sweet spot was between 200-300 students, but it hasn't had that many in years. That said, those are two very different institutions, with completely different missions.

The move might just save it. Or just postpone the end. Which is too bad, because it was (and is) a pretty cool institution, with an increasingly rareified mission.

That was mentioned on pages 7&8 of this thread.

Whelp. My apologies. I was relying on memory, and should have checked.

[spork]

Error in my previous post: "that that" should be "that the."

[polly_mer]

Marquette University has layoffs and unfilled positions: https://www.jsonline.com/story/news/education/2019/09/05/marquette-lays-off-24-faculty-and-staff-leaves-50-positions-unfilled/2225523001/

Marquette cites the changing Midwest demographics with fewer traditional age students as a reason to be proactive.

[rdonovantin]

More news from South Florida... will this work? Lots of people excited about football down here

"Anytime you come to a struggling institution, you are operating on deficits, and money is an issue," Armstrong said. "But I explained to them that if you do it correctly, you don't need money. The money will come through the operation of the team and from all the students who are paying tuition who otherwise wouldn't be here.

https://www.miamiherald.com/sports/college/state-college-sports/article234659207.html

In the meantime, more and more valuable faculty and staff have left or been terminated

I would really love to see the business plan, with financial projections, especially where the revenue is going to come from. What percentage will be from ticket sales and who would be the paying fans at the game, for example? I certainly hope the business plan has some valid market research (primary data & not the BS that all athletic departments, in general, spew out) to backup the assumptions that the president has made. Otherwise this is going to be a very expensive learning experience. What scares me about this president's plan is that his assumptions seem to be based on his personal experience with football. Hail Mary business plan?

All good and natural questions. We all wonder about long term plans (faculty and staff recently attended a welcome party at his new very fancy house, and we all wonder the same while commenting on those who have left or been terminated). First game is tomorrow at a local high school football field... against the football team from his former university in Northern Kentucky... President is really active on Twitter, so you can all get a better sense of the situation by reading his timeline https://twitter.com/stuprez

[Hibush]

President is really active on Twitter, so you can all get a better sense of the situation by reading his timeline https://twitter.com/stuprez

If my place had a stupid president, I would hope they could grab that Twitter handle.


Slightly OT, a different Florida university president tweets about the upcoming football game.