Colleges in Dire Financial Straits

[apl68]

I'd love to see how the discount rate is changing at the aforementioned schools.  Are students really clamoring to get into Colgate? Granted the number Hibush cites is the number of applications, not the number of admits or the number who accepted offers, but my point still holds to some extent. How many names are those schools buying to push brochures, in the hopes that those students attend? And how many of them are exclusively trying to court students who think they couldn't afford a private school by discounting tuition to the rates of the cheaper public schools?

Yes, people are clamoring to get into Colgate. It is definitely one of the haves, though you may not recognize the name. Admit rate is 25% (and will be a lot less next year). Graduation rate is >90%. Net tuition is about $25K, and they have a good endowment.

Other schools in the region are having trouble filling their classes. The cheaper SUNY options in NY are among those seeing fewer applications.

Colgate is a high quality institution.

They're especially known for their excellent school of dentistry.

Actually, whistleblowers have indicated that the school of dentistry's internship program is just a cover for putting students to work in the local toothpaste factory without wages.

Oh, wow.  It's sad to hear that they've stooped to that.  Colgate U. always seemed better than that!

[TreadingLife]

I'd love to see how the discount rate is changing at the aforementioned schools.  Are students really clamoring to get into Colgate? Granted the number Hibush cites is the number of applications, not the number of admits or the number who accepted offers, but my point still holds to some extent. How many names are those schools buying to push brochures, in the hopes that those students attend? And how many of them are exclusively trying to court students who think they couldn't afford a private school by discounting tuition to the rates of the cheaper public schools?

Yes, people are clamoring to get into Colgate. It is definitely one of the haves, though you may not recognize the name. Admit rate is 25% (and will be a lot less next year). Graduation rate is >90%. Net tuition is about $25K, and they have a good endowment.

Other schools in the region are having trouble filling their classes. The cheaper SUNY options in NY are among those seeing fewer applications.

Colgate is a high quality institution.

They're especially known for their excellent school of dentistry.

Actually, whistleblowers have indicated that the school of dentistry's internship program is just a cover for putting students to work in the local toothpaste factory without wages.

Oh, wow.  It's sad to hear that they've stooped to that.  Colgate U. always seemed better than that!

It aggravates my last nerve when people don't brush up on the labor laws.



I'll be here all week.

[mamselle]

I'd love to see how the discount rate is changing at the aforementioned schools.  Are students really clamoring to get into Colgate? Granted the number Hibush cites is the number of applications, not the number of admits or the number who accepted offers, but my point still holds to some extent. How many names are those schools buying to push brochures, in the hopes that those students attend? And how many of them are exclusively trying to court students who think they couldn't afford a private school by discounting tuition to the rates of the cheaper public schools?

Yes, people are clamoring to get into Colgate. It is definitely one of the haves, though you may not recognize the name. Admit rate is 25% (and will be a lot less next year). Graduation rate is >90%. Net tuition is about $25K, and they have a good endowment.

Other schools in the region are having trouble filling their classes. The cheaper SUNY options in NY are among those seeing fewer applications.

Colgate is a high quality institution.

They're especially known for their excellent school of dentistry.

Actually, whistleblowers have indicated that the school of dentistry's internship program is just a cover for putting students to work in the local toothpaste factory without wages.

Oh, wow.  It's sad to hear that they've stooped to that.  Colgate U. always seemed better than that!

It aggravates my last nerve when people don't brush up on the labor laws.

I'll be here all week.

That was held to be a problem in the Iowa state system, but is Colgate implicated as well?

   https://thefora.org/index.php?topic=2056.msg59467#msg59467

Or is Parasaurolophus pulling your mandible?

M. 

[Ruralguy]

I think we've reached the crest of bad college jokes...

[FishProf]

Given the Scope of the problem, we haven't made a dent.

[jimbogumbo]

You guys are cracking Bucky Beaver up!

[AmLitHist]

For Thursday's board meeting, the long-rumored early severance plan is recommended for approval.  Once the dust settles from that, there will likely be another RIF.

Also interesting is a long list of non-renewals of contracts covering departments like advising, institutional research, curriculum, and the registrar's office.  Some of those will surely be rehired under other titles, but many won't, according to the grapevine.

Like the last severance, I'm eligible to take it, but it's so financially small I can't afford it. Alas. A number of others probably will, though, so at least I should move up the dept. seniority list and maybe even get better pickings come class-scheduling time.  Maybe.

[apl68]

For Thursday's board meeting, the long-rumored early severance plan is recommended for approval.  Once the dust settles from that, there will likely be another RIF.

Also interesting is a long list of non-renewals of contracts covering departments like advising, institutional research, curriculum, and the registrar's office.  Some of those will surely be rehired under other titles, but many won't, according to the grapevine.

Like the last severance, I'm eligible to take it, but it's so financially small I can't afford it. Alas. A number of others probably will, though, so at least I should move up the dept. seniority list and maybe even get better pickings come class-scheduling time.  Maybe.

Is this the second or third time AmLitHist U has been through this?  How much of their faculty have they already severed?  What sorts of offers are they giving?

[AmLitHist]

There was a mini/selective incentive about a decade back, but the big one (and ensuing big RIF) came in 2017-18. 

The incentive is one month of the college-paid portion of basic employee-only health insurance for each year of service. So, I'd have to pay for my portion of the base plan, plus the full amount of my buy-up, plus both the college's and my part of the coverage for my spouse--something over $990/month.  (ALHS isn't old enough for Medicare yet--turns 62 this year--so it'd  be a long-term commitment of a lot of money.  The other option instead of insurance is (1.5% of annual base salary) x (years of service), NOT to exceed $30,000 total.  With my 17 years, it'd be a whopping $18,800.  Woo-hoo, and don't spend it all in one place.

All this, of course, plus the task of looking for a new job at age 60, when there aren't many that I'd be a good fit for in this area that pay as well as what I have now, even if I'd be up for looking/starting all over at my age (which I'm really not, unless I just absolutely have to).  I have a lot (10+) of older colleagues who've said for a long time that they'll take the offer, regardless of the amount.  If I were over 65, or at least if ALHS were, I'd seriously consider it, too. 

I'm really waiting to see how bad the RIF will be this time.  I'm thinking I (and my dept.) should be safe this time; we lost over 30% last go-round.

As it is, I'm hoping my job holds for another 5 years, and I'll try to keep my mouth shut.  I'm paid pretty well to do that, even if things do get aggravating as hell with Admin.  It can't be good for a place to have two buyouts/RIFs this close together, though, can it? 

Interestingly, our counterpart CC in the next county over is hiring like mad, both faculty and mid-level admin. We can't blame all our woes on the demographics or COVID; the same things apply 25 miles down the road, too, and they're doing well.

[spork]

^ weirdly I find this reassuring, because it is highly likely that in the ten years until I hit age 65, I will probably see another new provost or two and probably also several new deans. Of course working conditions will steadily deteriorate by then, but the administrators I am aggravating now with facts will be long gone.

[AmLitHist]

^ weirdly I find this reassuring, because it is highly likely that in the ten years until I hit age 65, I will probably see another new provost or two and probably also several new deans. Of course working conditions will steadily deteriorate by then, but the administrators I am aggravating now with facts will be long gone.

One of my first good friends here used to tell me, "Admins come and go, but the faculty remains."  We've certainly seen them come and go (in 17 years, I'm on my fifth chancellor), and I still have enough stubbornness that I remain.  If they want rid of me before I retire, they're going to have to fire me and pay my unemployment.

[Parasaurolophus]

Have we listed Baker University yet? Enrollments are down 39%, so they're cutting 18 faculty and staff positions, eliminating four majors (philosophy, theatre, French, and German), and eliminating two minors (French and German). The program cuts are motivated by low major enrollment (not surprising in departments with just one instructor).

At the same time, it sounds like they're looking to spend $17 million to upgrade athletic facilities, and are going to be funding a new lacrosse team. (Information gleaned from this petition.)

[polly_mer]

At the same time, it sounds like they're looking to spend $17 million to upgrade athletic facilities, and are going to be funding a new lacrosse team. (Information gleaned from this petition.)

What drives enrollment?  At Super Dinky, 70% of students started as athletes.  At one point, the football team was a third of the student body and that was DIII with no athletic scholarships.

Getting full-pay students through athletic participation at a smaller school can be a better strategy than doubling down on majors that clearly aren't drawing.

The pre-professional athletics that are mostly about audience is a different case regarding budget than participatory activities.

[arty_]

Canceling French and German, and in the next sentence talking about adding Hebrew, Arabic and ASL. Huh.

[selecter]

More like the new lacrosse team will be funding them.