Colleges in Dire Financial Straits

[Ruralguy]

They make sense to me, because they come close to matching my school's data, at least by trendline.

We have a crazy discount rate, and its unsustainable.

[secundem_artem]

At every "budget town hall" we get shown Artem U's balance sheet and told that we are in good shape.  Given that the overwhelming majority of our assets are fixed assets, this is not particularly helpful information.  It's not as if we can sell a dorm hall to pay the bills.  Our P&L is not nearly so rosy, but they tend to gloss over that.

I sometimes suspect that too many faculty operate under some charming delusion that the Dean, the Provost or the President has a ton of money they're not discussing and we could all get fat raises if only........

[Ruralguy]

Its a question of priorities. At a small school, a raise pool can be significantly less than 1M. But with that kind of money, they draw in better coaches, fancier dressing for dorms, etc. So, its not so much that people fool themselves into thinking we're in great shape, but they know we spend "extra" on things they don't like much. Never mind that those very things are the things that draw in students, which is really how you get raises.

[selecter]

In my experience, we spend that little tiny bit of "in the black" on something that could help us grow, instead we drop another 2%, and the raises never come. I've been looking for something to break that cycle for 10 years. It isn't esports.

[BadWolf]

Middle States sent out a notice about ASA College yesterday. I don't ever recall getting an email directly from them about a school's accreditation.

https://www.msche.org/2023/02/15/msche-statement-on-the-announced-closure-of-asa-college/?utm_source=ActiveCampaign&utm_medium=email&utm_content=MSCHE+Statement+on+the+Announced+Closure+of+ASA+College&utm_campaign=20230214+-+Statement+on+Closure+ASA+College+%28All+Minus+Key%29&vgo_ee=zR8vbeYgHPEd6paA7l58k7TV8qsFUfI%2F1ISxnX2Ui4c%3D

If you read the history it looks like they've been trouble for a long time.

[Langue_doc]

Middle States sent out a notice about ASA College yesterday. I don't ever recall getting an email directly from them about a school's accreditation.

https://www.msche.org/2023/02/15/msche-statement-on-the-announced-closure-of-asa-college/?utm_source=ActiveCampaign&utm_medium=email&utm_content=MSCHE+Statement+on+the+Announced+Closure+of+ASA+College&utm_campaign=20230214+-+Statement+on+Closure+ASA+College+%28All+Minus+Key%29&vgo_ee=zR8vbeYgHPEd6paA7l58k7TV8qsFUfI%2F1ISxnX2Ui4c%3D

If you read the history it looks like they've been trouble for a long time.

Talk to anyone who has worked there. They should have been shut down a long time ago.

[Hibush]

Middle States sent out a notice about ASA College yesterday. I don't ever recall getting an email directly from them about a school's accreditation.

If you read the history it looks like they've been trouble for a long time.

In the FAQ about what will happen to faculty when it shuts down, the accredittor (MSHCE) has this disturbing information about the quality and reliability of their records. They practically say "we think you are lying."

ASA College has reported that all personnel records are digitized and will be uploaded to the iSolved HCM™, an HR management and payroll processing company. MSCHE has not received any evidence of a contract with iSolved HCM™ and required ASA College to provide details of the contract with iSolved HCM™. The quality and substance of that report was insufficient to permit Commission review.

ASA College has reported that all financial records will be maintained by QuickBooks™. MSCHE has not received any evidence of a contract with QuickBooks™ and is requiring ASA College to provide details of the contract with QuickBooks™. The quality and substance of that report was insufficient to permit Commission review.

[spork]

I looked up Saint Leo University after Inside Higher Ed reported that it is closing satellite campus operations, eliminating some athletic teams, etc. Though not in dire straits because of its size, the school as lost 45% of its undergrad FTE enrollment since pre-2008 recession. Grad FTE enrollment is down 26% since 2016. Consistent deficits since FY 2018.

[Mobius]

That's my issue with some faculty who constantly complain. We're not getting more money. If we want to spend money on marketing, that means less for raises and replacing lines.

At every "budget town hall" we get shown Artem U's balance sheet and told that we are in good shape.  Given that the overwhelming majority of our assets are fixed assets, this is not particularly helpful information.  It's not as if we can sell a dorm hall to pay the bills.  Our P&L is not nearly so rosy, but they tend to gloss over that.

I sometimes suspect that too many faculty operate under some charming delusion that the Dean, the Provost or the President has a ton of money they're not discussing and we could all get fat raises if only........

[Hibush]

News is out that IUPUI is splitting into IUI and PU.  It is not that school in dire financial straits, but the success of both IU and Purdue that squeezes smaller or less effective schools.

"Purdue has seen eight years of record enrollments, with nearly 51,000 students total. IU's Bloomington campus welcomed 9,736 new undergrads this fall, also a record. IUPUI's undergraduate enrollment has fallen from 21,777 in the fall of 2014 to 17,278 in 2022, a decline of nearly 21 percent.

With the better focus on serving Indianapolis, IUI will likely push back up in enrollment.

These big schools are growing nicely, even in the rust belt. Among the three campuses enrollment is about 125,000 students serving a state of not-quite 7 million (IU 45,000; Purdue 51,000; IUPUI 28,000) or about 40% of Indiana demand.

[jimbogumbo]

News is out that IUPUI is splitting into IUI and PU.  It is not that school in dire financial straits, but the success of both IU and Purdue that squeezes smaller or less effective schools.

"Purdue has seen eight years of record enrollments, with nearly 51,000 students total. IU's Bloomington campus welcomed 9,736 new undergrads this fall, also a record. IUPUI's undergraduate enrollment has fallen from 21,777 in the fall of 2014 to 17,278 in 2022, a decline of nearly 21 percent.

With the better focus on serving Indianapolis, IUI will likely push back up in enrollment.

These big schools are growing nicely, even in the rust belt. Among the three campuses enrollment is about 125,000 students serving a state of not-quite 7 million (IU 45,000; Purdue 51,000; IUPUI 28,000) or about 40% of Indiana demand.

I am intimately acquainted with this. The Fort Wayne campus (IPFW, now PFW) did this around 2016. The BoTs asserted in each case it was to grow the student enrollment by capitalizing on the "brands" of the two flagships. Hasn't happened at Fort Wayne. Cynical minds believe it had much more with the Presidents' inability to play nicely, and the Legislature's weariness with that. Plus, in the Fort Wayne case, IU has used the opportunity to try grow it's hospital system which was not present in that corner of the state.

IU has eight  campuses throughout the state, and Purdue has three, along with satellite tech centers for students in several cities. Enrollment growth at the two Purdue regional campuses (Fort Wayne and Northwest) has not grown appreciably since 2016.

[Hibush]

The Chronicle has an article on colleges that have continued to lose enrolment compared to those that bounced back. They find 573 institutions are continuing to drop. Those appear to be in two categories, one the super-dinky (<200 students to start) or community colleges.
Some public R1s had a big drop but came right back.

BPCR - can you post the text?

It is an interface to a database, so the text can't be copied to here. Also shows only the top 50 of the schools, so not even a good interface. I think you have to pay extra for full access, and some schools will do so.

[Hibush]

News is out that IUPUI is splitting into IUI and PU. 

I am intimately acquainted with this. The Fort Wayne campus (IPFW, now PFW) did this around 2016. The BoTs asserted in each case it was to grow the student enrollment by capitalizing on the "brands" of the two flagships. Hasn't happened at Fort Wayne. Cynical minds believe it had much more with the Presidents' inability to play nicely, and the Legislature's weariness with that. Plus, in the Fort Wayne case, IU has used the opportunity to try grow it's hospital system which was not present in that corner of the state.

IU has eight  campuses throughout the state, and Purdue has three, along with satellite tech centers for students in several cities. Enrollment growth at the two Purdue regional campuses (Fort Wayne and Northwest) has not grown appreciably since 2016.

You appear to be in a great position to assess the factors that determine relative competitiveness among schools that vary in size, acadmic offerings, location, sportsball prominence and other factors we speculate about. Also whether Indiana students with college potential are being served well. Looking forward to any insight based on what you see there.

[Anselm]

https://www.thegazette.com/higher-education/kirkwood-community-college-cutting-programs-faculty-and-staff/

Not exactly dire but surprising to me.

[Hegemony]

In recent years the students I've known at many of the Purdue branch campuses are hoping to transfer to the main campus. I know the branch campuses are built to serve local populations, but they seem to have evolved to serve as second-choice entry portals for the main campus. That is, with an over-abundance of applicants at the main campus, it's easier for students to get accepted into the branch campuses. But that's not where they want to end up, ultimately, so they go to the branch campuses hoping to leave. So that's a puzzler for the planners.