This Week In College Viability (TWICV)

I have a big announcement to start off today’s show.

After reading, listening and watching the traditional higher education media, I have realized that is not me.  I don’t do cookbook stories on how to fix higher education on the margins.  I don’t engage in trite college stories about ‘awesome’ or ‘excited’ events or personalities.

It is time for me to step forward and share that I am your Self-appointed ‘alternative higher education media source’  

Giggle if you will.  Roll your eyes if you must.  My operating premise (right or wrong) has been that Higher Education is in the midst of an economic model adjustment that will inevitably result in consolidation – in the form of continuing closures and increased merger activity.

I try to be polite.  Some have called me somewhat bombastic.  I can live with that. I do offer ‘sarcasm alerts’  I have interest in engaging in collegial discussions with those who have other thoughts.

I have also had too many say: “Gary, keep doing what you are doing”.  To those, I thank you.

This podcast and the other media that I do will continue to lovingly poke the current Higher Education bear in a never-ending attempt to do my small part to move the industry past its historical model and toward one that recognizes the Higher Education industry financial needs  fewer colleges

Show Notes:
Drexel U. lays off 60 staffers due to enrollment drop, ‘flawed’ FAFSA rollout

Portland State to lay off 17 faculty members; union says more layoffs could be coming

SF State faculty mourn upcoming layoffs in New Orleans-style funeral march

Intel ruled tech. Now it’s in deep trouble

Higher Ed’s Governance problem     

See how many colleges may close after 2029

A Reimagined Jewell (College)

Emporia State University president faults tech college for competition, envisions hostile takeover

Iowa private college officials confident in popularity, sustainability of increased financial aid

When Gown Leaves Town

This week's episode has some action in layoffs and cutbacks.  I thought we had an imminent closure, but Keystone College is still trying to ride out a nearly impossible financial situation with appeals of their accreditation removal.  Poor students.

+  I have never used ‘fake news’ in this podcast before, but I have a story about college completion rates trending up that fits that categorization.

+ I have added a section on ‘College Drivel”  ‘to talk stupidly or carelessly’.  Prepare to nod your head in agreement.

+ Affluent White Students Are Skipping College, and No One Is Sure Why.   I know why.

Show Notes

UNO to consolidate colleges, lay off administrators to address $15M shortfall

Faculty Push Back Against Staffing Cuts Recommended for State Colleges

No letup in financial pressure on colleges in 2025, Fitch says

With $252 million in projected debt, Barnard makes cuts to faculty and staff benefits

College Completion Rates Trending Up

2 Seattle Colleges Announce Merger

Affluent White Students Are Skipping College, and No One Is Sure Why

Dual Enrollment Is a Deceptive Fix for Declining Admissions

Our Opinion: Keystone College deserving of time to prove viability

News and commentary stories this week:
 + Webster University’s financial distress from HLC.  More of those designations coming?

+ Keystone college could lose their accreditation later this month.

+ Central State (OH)  makes major changes

+  The Bell Tolls from Richard K. Vedder  James G Martin Center for Academic Renewal.  I will focus on graduation rates and poor financial health.

There is much higher education news this 2024 Thanksgiving week.

Headlines

+ Some layoffs and cutbacks this week

+ 2 stories that suggest college leaders may be moving more aggressively in their relationships with faculty

+ Anderson U Fitch rating heads south.

+ More ugly spin on a college with an unsustainable financial pattern

+ St. Augustine U sells off the farm to stay afloat

Show Notes and links:

As Fontbonne University winds down, its students leave to finish their studies

Drexel University lays off 60 employees in face of ‘structural imbalance’ in operating budget

Saint Augustine’s U., on the Brink of Fiscal Collapse, Enters a $30-Million Credit Agreement

Boston U Suspends Admissions to Humanities and Social Science Ph.D. Programs

Former TSU President Sets the Record Straight

Fitch Revises Anderson University, IN's Outlook to Negative; Affirms IDR and Revs at 'B-'

Accreditor confirms HLGU turnaround, removes university from probation

It is the week before Thanksgiving and my prediction of the college closure rate picking up steam has not yet developed.  I still believe that there are scores of colleges out there without the resources to be viable.  My concern is now moving toward how many of these will wait too long and must announce their closure with very short notice to students, faculty, staff, and communities. Time will tell.

For this economic imbalance to get to some sort of supply and demand equilibrium, many more colleges need to close.  

So, this week’s news and commentary is heavy on that theme.  The stories are:

Show note links:

·         Tennessee State University lays off 114 employees amid financial crisis

·         Harris Stowe and HLG stories both back on full accreditation. I have concerns with both.

·         Several St. Louis colleges make watchlist for financial risk
            Let’s Regulate Colleges Like Businesses 

The Red Guy won and the Blue lady lost.  

I am guessing most of us have read and listened to countless stories about the outcome and potential future impact of last Tuesday’s national election.

Here is a 'This Week' prediction for you.  “It’s impact on HE was going to be materially insignificant no matter whether red or blue one.”

+ I also look at both student reporters and the college leaders they interview.
+ States are taking on fewer college costs. Who is picking up the bill?
+ 2 stories and commentary on the election's impact on HE.
+ $500 tuition per semester.  Is it sustainable ?

Click here to get a private college financial health bundle for $499 (Retails at $1,795.)

Click here to get a PUBLIC college financial health bundle for $499 (Retails at $1,795.)

AI-generated takeaways

• More students are choosing not to pursue college education.
• Free tuition initiatives can lead to negative consequences for faculty and staff.
• Enrollment declines have long-term financial impacts on institutions.
• HBCUs are facing significant challenges with graduation rates.
• Graduation rates are often overlooked in favor of enrollment numbers.
• Choosing a college requires careful consideration of its financial health.
• Support for higher education is crucial for societal progress.
• The college viability manifesto emphasizes the importance of informed college choices.

Chapters:
00:00 Election Day and Higher Education Trends

02:55 Layoffs and Financial Struggles in Colleges

05:47 Free Tuition Initiatives and Their Consequences

08:45 Enrollment Declines and Financial Health of Institutions

12:14 Tennessee State University: A Case Study

15:06 The State of HBCUs and Graduation Rates

18:02 The Higher Education Bubble and Its Implications

20:50 The College Viability Manifesto

Show notes:
Webster University to close all remaining military campuses

Faculty and staff reductions coming to the University of Akron: ‘Challenging but necessary change’

Admin announces no faculty layoffs (Rider U)

Reporting on College Finances (for education reporters)

Tennessee State University faces urgent financial crisis, implements immediate cost-cutting measures

What preliminary enrollment data from fall 2024 tells us

Central State University (OH) on ‘Fiscal Watch’

The cost of college is quietly going down

The higher education bubble is finally bursting

To purchase one of the 2024 College Viability Apps, click here.

Robert Heil, CEO of Financial Aid Services, joins me to talk about removing friction from the financial aid process, the importance of comparing good and bad 4-year graduation rates, and finding ways to make colleges more accountable for graduating their students.

Robert also talks about the challenges of college leaders in this day and age.  It's worth a listen.

This week we dissect and analyze:

1. Trite strategic plans
2. Cash-Strapped Colleges Are Selling Their Prized Art and Mansions
3. Adding sports teams is a leading indicator of colleges in financial trouble
4. The macro enrollment tumble v. the micro impact.
5. Middle class students are now a marketing target
6. To understand the future of higher education, look to the past of healthcare

To purchase a version of the 2024 College Viability apps, click HERE.

Show Notes:
Tracking college closures

Southeast Mo. State leaders respond to enrollment decline

Cash-Strapped Colleges Are Selling Their Prized Art and Mansions

Future U Podcast with Jeff Selingo and Michael Horn:  College Athletics guest:  Matt Brown

La Salle University’s enrollment dropped 28% since 2019. What is the school doing to cope?

First-Year Enrollments Take a Tumble

Fewer high schoolers went to college this fall. It's unclear why.

Liberal art majors need to consider a high value major also

Some colleges aim financial aid at a declining market: students in the middle class

To understand the future of higher education, look to the past of healthcare

Vanderbilt University gets approval for $520M Florida graduate campus

With consolidations in many forms moving through colleges, Dr. Laura De Veau speaks from experience.

She addresses these quesstions in this special edition of 'This Week in College Viability'.

I reached out to Laura when I saw her post on Vanderbilt University announcing a new presence in Manhattan.  (After we recorded the podcast on October 25, 2024, Vandy announced a move to Florida as well.)  She addresses Vandy's moves and much more.

1. What are the top reasons a private college should consider a merger?

2. Do you believe the merger of 1-3 colleges is large enough to get to scale?

3. The general belief in HE literature is that colleges that should merge are waiting too long.  Do you believe that?  If so, what guidance would you give to colleges with difficult finances?

4. How would you characterize the anticipated benefits of the merger for students, faculty, and staff?

5. hat is the worst outcome for a merger?W

6. Will there be layoffs as a result of a college merger(s)?  If so, is that a good thing or bad thing?

7. How could a merger affect the overall student experience, including access to academic advisors, career services, and student support resources?  

8. Would mergers  increase class sizes or reduced access to faculty?