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Colleges in Dire Financial Straits

Started by Hibush, May 17, 2019, 05:35:11 PM

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Ruralguy

I cant defend this ratio for any particular school, other than to say that at my school, if you subtract off externally contracted staff, facilities workers that arent managers, and AAs that dont manage, then were at about 1:1. Keep in mind that a lof this staff manages students,athletics,  money, facilities, etc. and not faculty. We are pretty independent at my school, with most pesky interferemce coming from 1 dean and a couple of deanettes, and about 75 percent of their jobs, maybe nore, is more heplful to us than it is hurtful or just ridiculous fluff. Also, some staff is mandated due to Title IX, accreditation, etc..

spork

The Waynesburg University (PA). Multimillion dollar deficits from 2016 through 2020. Deficit of $80K and surplus of $500K in 2021 and 2022, respectively, on ~ $60 million in annual expenses because of federal pandemic aid. 
It's terrible writing, used to obfuscate the fact that the authors actually have nothing to say.

sonoamused

Northwestern College outside of Chicago closed; and seems to have left students in a bit of sudden lurch.
https://abc7chicago.com/post/northwestern-college-students-unsure-get-money-back-credits/15043604/

kaysixteen

I gottsta say it again-- who exactly out there is there who gets to oversee what happens to the campus assets of colleges that shutter, esp suddenly?

dismalist

Quote from: kaysixteen on July 08, 2024, 06:49:16 PMI gottsta say it again-- who exactly out there is there who gets to oversee what happens to the campus assets of colleges that shutter, esp suddenly?

Nay, nay, nay: Who exactly is out there who oversees the campus assets before they shutter?

Boards got no skin in the game.
That's not even wrong!
--Wolfgang Pauli

kaysixteen

There certainly could be financial shenanigans going on in the last days of a campus, yes, but once dead, the physical assets remain, and, well, say in the case of Eastern Nazarene College we read about last week, many of these places have campi that could be sold for many times the value of any outstanding debt the school might have.  It really makes me wonder, for instance, personally knowing the ENC campus, just how much the total physical evaluation price might actually be.