This Week In College Viability (TWICV)

In this episode of College Viability News, I discuss the growing concerns among college faculty regarding financial health and enrollment trends.

I also share concerns about the financial struggles of another high-quality college, Franklin and Marshall College, the challenges faced by Wells College in selling its campus, and the financial distress designation (and the attempts to play hide and seek with that information) of Antioch College. The conversation also touches on the enrollment silly enrollment spin at the University of Arkansas at Little Rock, Kent State's vague academic consolidation plan, and (sarcasm alert) the ambitions of Chicago State to add a D1 football team.

Show notes and links

Franklin & Marshall College To Lay Off Workers In April 2025

Wells College faces hurdles in campus sale

University of Arkansas at Little Rock sees record-breaking enrollment growth for Spring 2025

Kent State academic consolidation plan inches closer to approval

Chicago is one step closer to adding a NCAA Division-I college football team

The second Trump administration has given Higher Education a lot more than finances to worry about in the past few weeks.  But, have no fear, I will continue to stay focused on the financial health and viability of public and private colleges.

As I have shared regularly, the market always adjusts.  This market adjustment is being driven by government decisions and it will continue to do so as the financial challenges continue to mount.

This week we have:

+TSU still in danger of running out of money to keep the lights on.

+ Utah Is Pushing Its Colleges to Cut Low-Enrolling Programs 

+ Spin. Spin. Spin story about a private Missouri college. I will provide the needed balance.

+ Flag Football for women is the latest profound strategy to save a college.  Sarcasm alert.

+ and, of course more.

Show links:
Cleveland State University cuts three sports as it works to reduce its budget deficit

Lakeland Community College seeks to lay off 30 faculty to address deficit

Utah Is Pushing Its Colleges to Cut Low-Enrolling Programs — With $60 Million at Stake

UNH faces $15M to $20M in budget cuts. Tuition hike coming, too.

Campus Experiences Record Spring Enrollment

Lourdes University Announces Addition of Women’s Flag Football

Is your master’s degree useless?  The Economist Nov 18 2024 (Behind paywall)

Tennessee State University could run out of cash this spring without help

From the Amazon book description:

Bankrupt U – Students, Parents and Alumni Are Going Broke, & Colleges Don’t Give a C.R.A.P.is the ultimate insiders’ guide to college. The authors, both college professors,DO give a C.R.A.P. They want students to get the most from their college experience while paying the least amount possible. They also share crucial information on making money - something colleges don’t bother to teach their students.

C.R.A.P. stands for “Creating Richer Alumni Playbook.” It’s what every student should get while they’re in college. But colleges are BIG businesses, more concerned with their own bottom line than with the financial success and prosperity of their students. Bankrupt U is a Playbook for success, in college and beyond.

Here’s a “Campus Tour” of Bankrupt U:
Part 1 – What Your College Doesn’t Want You to Know
Part 2 – Ten Money Traps That Could Cost You BIG BUCKS
Part 3 – What Your College Didn’t Teach You – But The Professors Who Pay You Back Do
Part 4 – The Plays for Your Creating Richer Alumni Playbook
Bonus Section – The REALS: Real-Life stories and lessons that bring the chapters to life

Look, you’ve probably never played the college game before, but colleges have been playing it for years – and they always win. This book will switch the balance of power to YOU and give you the tools you need to win. And winning means less money out of your pocket, and more money for the rest of your life.

I had my annual summit with a good Higher Education friend last week.  He was one of my first virtual-only connections and always brings valuable perspective for me.   He talked about restaurants.  Over the course of time, many restaurants open and a certain percentage of them will close for a variety of reasons. Bad food, bad location, bad pricing, high costs, poor financial management – and the list goes on.

Restaurants are reviewed by any number of website and publications.  There are really good ones and those that are not really so good.  Just like colleges.

In the business context, aren’t colleges like restaurants in many ways?  

In today’s podcast:

1.      Students, faculty argue Portland State University’s financial sustainability plan does more harm than good.  GS:  We will call that a protest and move on.

2.      LSU reports $279M net gain for fiscal 2024 amid rising revenues and enrollment  GS:  I am going to make the case that this story supports my operating premise that student markets are moving toward to bigger colleges – mostly public, but some private.

3.      Two no-confidence votes for colleges presidents at Lafayette College (PA) and Mount Vernon Nazarene University (OH)

4.      A LI post from Peter Khoury about Higher Education’s arrogance

5.      And . … . . much more.

Show notes:

St. Norbert College (WI) to 'develop recommendations' for program eliminations, faculty layoffs

Catholic University in D.C. pledges cuts to offset $30M budget deficit

Students, faculty argue Portland State University’s financial sustainability plan does more harm than good

‘They’re Scared to See Our Faces’: Angry Sonoma State Community Protests Wide Cuts

The King’s College Aims to Reopen

Penn State Faculty Fear the School Will Close Campuses Across the State. Officials Won’t Give Them a Straight Answer

LSU reports $279M net gain for fiscal 2024 amid rising revenues and enrollment

Saint Augustine’s U Faces Ticking Clock to Fix Finances

Saving And Reviving Liberal Arts Colleges

Does Football Count?

Presidential No-Confidence Votes Cast At Two More Colleges

The Presidential Graveyard: How Higher Ed’s Arrogance Makes Leadership Almost Impossible.

Here are the lead news and commentary stories for January 27th

+ Big cuts at Sonoma State - including all athletics

+ Which media outlet might also be a college PR firm?

+ The ‘Dead Horse Theory’ applied to colleges

+ Media ‘regurgitation reporting’ runs amuck.

Show notes and links:

Commonwealth University to Close Clearfield Campus

‘Shock and grief’: Sonoma State University makes deep cuts to staff, departments, degrees and all student athletics
The Sad Decline of Sonoma State

As Webster U. digs itself out of a hole, it’s attracting — and accepting — more students

Facing a $20 million deficit, Albright College is making cuts, borrowing from endowment

Hampshire College president leaving for Greece

Saint Augustine’s University Rejected Lower-Interest Loan Contingent on Board Chair’s Resignation

.  I want to start off today’s podcast with a story about 2 college professors I met.  I had the chance to meet and talk with these two kindred souls last week.  These two released a book on Amazon in December.   The title:  Bankrupt U.   The authors:  college professors: Bill Quain and Joe Corabi.

These two experienced and entertaining professors and authors take on colleges and college faculty in a way that you will want to read. I will save the details for later.   They will be on the podcast as my special guests as soon as we can get a date lined up.

This week I have news and commentary on:

+ Layoffs and Cutbacks at UNO, Columbia College (IL), and St. Norbert College

+ Webster University touts financial turnaround   - an absolutely ridiculous assertion that I shred to bits.

+ Freshman enrollment didn’t flop after all   _ not really that big of a story.

+  More silliness at Guilford College in NCES

+ And, as always, much more.

Show notes and links

UNO to furlough hundreds of employees as it faces $10 million budget gap

University of New Orleans to furlough 290 employees, prepare for layoffs amid budget crisis

Breaking: College lays off 23 full-time faculty amid historic restructuring

St. Norbert College considers additional faculty layoffs

Webster University touts financial turnaround   

Freshman enrollment didn’t flop after all

'We are not closing, we are changing'

Latest Layoffs Deepen Worries About Future of St. Francis College

Jeff Doyle 30 private NFP closures in 2024

This Week in College Viability headlines for January 13, 2025

+ Bacone College Accreditation Withdrawn – College Drivel for Bacone’s response

+ Guilford College risks losing accreditation, probation extended through 2025. Board pres is leading the college’s efforts.  

+ Of course, the new ‘College Drivel’ section is on for today.

+ Which Colleges Always Lose Money?

+ Why You Should Check Your College's Financial Health from Kimberly Lankford at Kiplinger

AI- generated Takeaways (edited)

• Bacone College has lost its accreditation but is not closing.
• Guilford College is on probation with its accrediting agency.
• The financial health of colleges is declining overall.
• Colleges need to challenge their assumptions about revenue.
• Deferred maintenance is a growing issue for many institutions.
• Market realities are driving changes in higher education.
• Data-driven insights are essential for understanding college viability.

Show Note Links:
Bacone College Accreditation Withdrawn

December Brings Late Round of Job, Program Cuts

Guilford College risks losing accreditation, probation extended through 2025

College operating costs rose 3.4% in fiscal 2024

Which Colleges Always Lose Money?

LI post from  Mark Sklarow CEO | Educator | Higher Education Specialist  Jan 10th.

Higher Ed’s Grim New Normal

Thinking outside the M&A box

Olin College, whose president is resigning, joins ranks of institutions facing financial and leadership difficulties

Why You Should Check Your College's Financial Health

Jon Boeckenstedt blog post

Summary

In this episode of 'This Week in College Viability,' Gary Stocker discusses the current challenges facing higher education, including leadership changes at Guilford College, the merger of Gannon and Ursuline, and the implications of declining enrollment numbers. He emphasizes the need for financial transparency in colleges and explores the potential for class action suits to hold educational institutions accountable. The conversation also touches on the return on investment for students, the impact of career technical education programs, and the ethical concerns surrounding Pell churning. Stocker concludes with a critical view of the state of higher education and the necessity for reform.

Takeaways

• Guilford College is facing significant financial challenges leading to leadership changes.
• Mergers like Gannon and Ursuline reflect the ongoing consolidation in higher education.
• Financial value transparency is crucial for students to make informed decisions.
• Class action suits may emerge as a means to hold educational institutions accountable.
• Return on investment varies significantly between colleges, with some elite schools underperforming.
• Career technical education programs are gaining popularity among Gen Z as viable alternatives to traditional college.
• Pell churning raises ethical concerns about how colleges manage student enrollment and retention.

Sound Bites

• "Class action suits could improve American education"
• "Reputation is not as important as major"
• "The only question is when closures will happen"
• "Pell churning is an ethical concern"
• "Colleges are not ivory towers of excellence"

00:00 Introduction to Higher Education Challenges

01:27 Guilford College Leadership Changes

03:50 Mergers in Higher Education: Gannon and Ursuline

07:01 The Impact of Enrollment Declines

09:53 Financial Value Transparency in Education

11:45 Class Action Suits and Educational Accountability

15:35 Return on Investment in Higher Education

19:02 Tennessee State University: A Case Study

20:32 Competition from Career Technical Education Programs

23:23 Pell Churning: Ethical Concerns in Enrollment

26:18 Conclusion: The Future of Higher Education

Show Notes and Links

Guilford College President Steps Down Amid Financial Challenges

Gannon, Ursuline closer to merging. How, when the schools hope to unite

Class dismissed: Colleges expected to close as enrollment numbers tank

The One Biden Education Policy Trump Should Keep

Western Interstate Commission for Higher Education's Knocking at the College Door report

Pick a college and graduate.  High-cost schools don't pay.  Earning a degree does.

It's been a long year for TSU. 2025 will prove crucial for the school.

Alcino Donadel - 2025 prediction on career technical education

The Kind Leadership Guild is a community for educational leaders striving to become more effective and humane with themselves, their team, and the people they serve, including a vibrant Facebook community, regular free zoom workshops, group coaching with fellow leaders, and more.

Join me as Sarah Clark discusses higher education job loss, accreditation processes, and her Kind Leadership Guild.

This is the final show for 2024.  I will be away with family next Monday.

Here is some of what I have for this week's podcasts.

+ College viability is an alternative media source for higher education.
+ The College of St. Rose sells everything and still can't pay off creditors.
+ Spin. Spin. Spin at University of Arkansas Little Rock.
+ Too many colleges?  A Middle States commissioner says: "No".
+ Another 'waiting too long' story at American Catholic University

More Show Notes
Columbia College Chicago to discontinue several degree programs, lay off faculty members

‘We want stability’: Columbia College Chicago students and faculty consider options amid program cuts, impending layoffs

Massive College Closures Remains A Misunderstood Myth

Most OU freshmen are not Oklahomans