Colleges in Dire Financial Straits

[apl68]

Wonder where in the midst of all those closed community colleges and cosmetology schools and so forth polly's "Super Dinky College" lurks?  I've tried for years to figure out where Super Dinky was, just out of curiosity.  But polly redacted or fudged enough details that I've been unable to do so.

[mamselle]

Wonder where in the midst of all those closed community colleges and cosmetology schools and so forth polly's "Super Dinky College" lurks?  I've tried for years to figure out where Super Dinky was, just out of curiosity.  But polly redacted or fudged enough details that I've been unable to do so.

It closed about a year ago. Turns out a friend also worked there and got out just in time.

I won't say more to protect various people's privacy, but polly's analysis was correct.

M.

[spork]

[. . .]

The problem of having gone under water with no sign of flotation is far more widespread than Bloomfield. It is frightening that they cannot regognize the problem when the financial acumen required to recognize it is no more complicated than high-school household budgeting class.

[. . .]

Form 990s can be found at the websites of Charity Navigator and ProPublica Nonprofit Explorer. They are easy enough to understand. Ditto for the enrollment data on IPEDS.

[Ruralguy]

Yeah, towards the end of Polly's activity here last spring, she mentioned that SD had actually closed the May prior, I believe.
I do not know Polly IRL, but for some reason  I concluded that SD was probably in rural Illinois. I can no longer recall why I thought so.
I don't think that was based on anything that was clearly revealed.

Bigger schools in better shape than SD was are doing almost as badly now.

[Wahoo Redux]

Higher Ed Dive:

Database of college consolidations:

https://www.highereddive.com/news/how-many-colleges-and-universities-have-closed-since-2016/539379/

[mamselle]

Dire Straits approaching?

   https://www.lcsun-news.com/story/news/education/2021/11/05/nmsu-president-john-floros-provost-carol-parker-faculty-senate-no-confidnence-students/6298049001/

Admin issues parallel those discussed above, but brought to a higher pitch, it seems....

M.

[selecter]

I was/am a big fan of Polly, and always thought it was one of those schools in Iowa that I always thought about applying to but didn't because of Polly's advice. I can think of a school in Illinois that would match well, too. And I've been at TWO schools that greatly resembled SD (one of which closed while I was at it. Not fun for anyone.)

[Wahoo Redux]

Polly pops up on Reddit from time to time with her typical mix of insult, bitterness, and wisdom. 

[TreadingLife]

Polly pops up on Reddit from time to time with her typical mix of insult, bitterness, and wisdom.

Is there a higher ed thread over there worth following? I tend to stick to this board for my dismal news these days.

[Wahoo Redux]

Polly pops up on Reddit from time to time with her typical mix of insult, bitterness, and wisdom.

Is there a higher ed thread over there worth following? I tend to stick to this board for my dismal news these days.

The threads tend to be the subjects we saw frequently on the old CHE Fora ("should I apply to this job?" "my advisor is mean!" "how to deal with an obnoxious grad student?" "should I go to grad school?") and less about the industry in general.  A great many threads are by European academics. Still, there are interesting conversations from time to time.  Reddit is better for Bigfoot sightings checking up on your favorite serial killer.  The Fora is better for discussion of school stuff.

[Mobius]

Dire Straits approaching?

   https://www.lcsun-news.com/story/news/education/2021/11/05/nmsu-president-john-floros-provost-carol-parker-faculty-senate-no-confidnence-students/6298049001/

Admin issues parallel those discussed above, but brought to a higher pitch, it seems....

M.

And right after that long-sought-after C-USA invite came.

[Hibush]

The National Student Clearinghouse has data on fall 2021 enrollment that provide some insight into where the dire straits are. The trends are clear.

Community college enrollment is down, presumably because of the hiring boom and red-hot economy.

Selective non-profits are doing fine, even growing.
Non-selective non-profits, and for-profits are contracting (ca 10% over two years)

This fits the model of the weakest schools that collectively enroll 5-10% of undergraduates are the ones in dire straits.

Public community colleges normally experience big enrollment swings with economic cycles, so the well managed ones should have sustainable responses to those fluctuations. The current contraction should not be seen as a secular trend.

[larryc]

Rant: The wheels are coming off at my university, a public regional comprehensive university. It is bad.

We always say we are a "tuition-dependent" state university, so any enrollment downturn hits us hard. What I didn't fully appreciate before COVID is how dependent we are on revenue from the cafeterias and dorms. We were all-online for a year, there were huge losses.

But wait, there is more! Even before COVID out Athletics department, by which I mean our football team, has been losing $10-12 million a year. They lie about this and hide it as best they can, but at a state institution with strong public records laws the truth has come out. Athletics at our university reports directly to the president as presents at every BOT meeting. To the trustees they are the university. Someting like 5% of students ever see a football game but they all pay $700/year in student fees to Athletics.

Anyway, last year we hit a $25 million deficit. The admin created slashing cuts everywhere. 47% of our classified staff were laid off in June of 2020. Programs were eliminated, adjuncts all fired, phones taken out of faculty offices. You can't get anything done on campus anymore, you email people or leave a phone message and there is no one to get back to you. A four-person office I often work with was reduced to one person, the most junior, who was told to do all the work.

But guess what wasn't cut? Athletics! The admin hired a group of consultants who consisted of retired coaches. The consultants decided that football was vital to the character of the institution in ways that were beyond quantification or even evidence. They said really we need to spend $4 million a year MORE on Athletics. The admin committed to meeting that goal.

So we are well and truly fucked. My department was combined with three others to "save money." Three secretaries were laid off and replaced (after a year with no secretary) with one, 80% person to serve 35 faculty. Our small but valuable grad program was eliminated (though we were allowed to start an online one). Every faculty Senate is a battle between angry faculty and our thin-skinned president who bristles at any criticism.

Enrollment is down another 20% this year as our rural portion of the state produces fewer high school graduates each year. And that number is about to drop off a cliff as the 2008 recession's birth dearth hits us. In the last ten years, we have invested heavily in our campus, we are paying bonds on lovely, state-of-the-art buildings that will never be full.

I turned 60 this year, and could probably retire in three years. I am actually a graduate of this institution and my wife and I met in a classroom where I now sometimes teach. I love this place. But we are so fucked.

[mamselle]

Yikes!!!

I'm glad to see your moniker, but would that it were under better circumstances.

Having been raised in Col's, OH, and having done my BA at Ohio State, I am fully aware and disgusted with the way athletics can take over a school...

But at least they seem to be making it work, somehow...

Is your retirement at risk as well? (As in, would they have some tricky little way to dip into those funds...?)

All good thoughts.

M.

[sinenomine]

So sorry to hear that, larryc. :-(