Colleges in Dire Financial Straits

[apl68]

Closure announcements today:

Wells College, NY

University of Saint Katherine, CA

Either St. Katherine's students and faculty had more to say, or its closure was the more abrupt of the two.  Apparently the great majority of their students played sports.

[Hibush]

Closure announcements today:

Wells College, NY

University of Saint Katherine, CA

Either St. Katherine's students and faculty had more to say, or its closure was the more abrupt of the two.  Apparently the great majority of their students played sports.

"St. Katherine's was founded in 2010 and offered more than two dozen undergraduate and three graduate programs of study. It enrolled about 300 students." The article indciated that they mainly enrolled students who could not afford to pay tuition, which leads quickly to dire financial straits unless one has a major alternate source of revenue. They also had grandiose plans for a 5000 student institution on a brand new campus in Chula Vista.

[permanent imposter]

Another quote from the St. Katherine's article, from their Arts & Humanities department chair: "I need to find a new job. I have four children."

:(

[marshwiggle]

"St. Katherine's was founded in 2010 and offered more than two dozen undergraduate and three graduate programs of study. It enrolled about 300 students." The article indciated that they mainly enrolled students who could not afford to pay tuition, which leads quickly to dire financial straits unless one has a major alternate source of revenue. They also had grandiose plans for a 5000 student institution on a brand new campus in Chula Vista.

Do places like this actually have any long-term financial *plan before they start? Barring a billionaire benefactor agreeing to foot the bill, it's not remotely obvious how this could work in the long term.


*other than winning the lottery

[Hibush]

"St. Katherine's was founded in 2010 and offered more than two dozen undergraduate and three graduate programs of study. It enrolled about 300 students." The article indciated that they mainly enrolled students who could not afford to pay tuition, which leads quickly to dire financial straits unless one has a major alternate source of revenue. They also had grandiose plans for a 5000 student institution on a brand new campus in Chula Vista.

Do places like this actually have any long-term financial *plan before they start? Barring a billionaire benefactor agreeing to foot the bill, it's not remotely obvious how this could work in the long term.


*other than winning the lottery

Sometimes a school's bankruptcy is to be celebrated not mourned.

Wells demise is sad because they had a nice mission and campus, but they couldn't even get a thousand takers.