This Week In College Viability (TWICV)

My special guest in this podcast episode is Raphael Courtland.  Mr. Courtland has a long history in finance and in higher education.

We discuss:

• Large-scale mergers and consolidation in higher education
• The role that debt is playing in the financial health of many colleges
• Whether there is anything financially-challenged colleges can do to recover.
• What role 'feeding a student's ego' has in higher education.

As the competition in 2024 Paris Olympics draw near, we are sadly seeing competition for the shortest notice of a college closure. More shortly.

+  How To Throw Away A Million Dollars

+ Applications are not enrollments. MSN gets lazy.

+ Don’t mess with The College Fix.  MIT plus 1200 

+ Hampshire thinks a morsel of good news is a feast.

+ A faculty story:  bugs, birds, and bats, oh my.

+ Another ‘Is college worth it’ survey.  And how that impacts potential closures this Fall.

College Viability series of Apps

2024 Private College Viability app for Executive Analysis
 

2024 Private College Viability app for Faculty & Staff

2024 Private College Viability app for Students & Families

PUBLIC COLLEGE APPS
Executive Analysis version

Faculty & Staff version

Students & Family version

Show Notes

How To Throw Away A Million Dollars

Sale price for Goddard College’s campus is $3.4 million; buyer remains unnamed

Why HBCU Enrollment is Exploding And What Officials Are Doing to Keep it That Way

Iowa colleges see lower federal student aid completion rates

MIT grew staff size by 1,200 while enrollment barely budged

Lakeland Community College tries to stabilize budget with another round of layoffs

Hampshire College to cut 9% of employees in restructuring

Notre Dame College delays final paychecks

My University Closed. Now What?

Is college worth it? Poll finds only 36% of Americans have confidence in higher education

It is the July 1, 2024 This Week in College Viability podcast.

Here are the leading stories.

+ Layoffs, cutbacks, and closures

+ More FAFSA Debacle reports

+ Bradley U gets a College Viabilitystar for being forthright and honest.  It’s faculty does not get to share the award.

+ Why so many colleges are closing now - and what it means for students ( A WSJ / Marketwatch story that quoted yours truly extensively.)

College Viability series of Apps

2024 Private College Viability app for Executive Analysis
 

2024 Private College Viability app for Faculty & Staff

2024 Private College Viability app for Students & Families

PUBLIC COLLEGE APPS
Executive Analysis version

Faculty & Staff version

Students & Family version

Show note links:

‘We know this news will come as a shock’: Mass. college announces plans to close its doors (Eastern Nazarene College MA )

SUNY Rockland Board of Directors Plan to Slash Up to $2.6 Million in Jobs to Address Ongoing Multi-Million Dollar Deficit

Keystone College cuts 29 faculty/staff positions, closes three low-enrollment programs

UNC Asheville to Cut Underenrolled Programs

FAFSA Fiasco Forces Cuts at Small Colleges

'We had a bad year:' How a covenant violation led Bradley University to make $13 million in cuts

Why so many colleges are closing now - and what it means for students

The FAFSA debacle: Another nail in the coffin for vulnerable colleges

If you bring Thom Chesney onto your podcast, you get to ask some aggressive questions.

Here are some Dr. Chesney addressed:

1. What is on the minds of private college governing boards?

2. Will the 'one-college-closure-per-week' trend continue?

3. Why do so few people seem to know the most important information about a college's future prospects?

4. When will we hit the 'tipping point' when students and their families worry en masse about private colleges?

5. I also do a speed round with Thom.
   1. FAFSA Debacle:  Best case scenario?  Worst case?
   2. Will there be a federal bailout of colleges?
   3. Should colleges be required to post quarterly financial statements - just like many other businesses
   4. Are accrediting agencies anything more than i-dotters and t-crossers?
   5. Pick one state you would send you child to college in?

College Viability series of Apps

2024 Private College Viability app for Executive Analysis
 

2024 Private College Viability app for Faculty & Staff

2024 Private College Viability app for Students & Families

PUBLIC COLLEGE APPS
Executive Analysis version

Faculty & Staff version

Students & Family version

Ashley Kern founded Sightline (sightlinedata.com) to bring an individualized data science focus for colleges.  

Ms. Kern discusses:

• Data enterpreneurs in higher ed and their impact
• The FAFSA Debacle
• The Sightline niche
• Market analysis services 
• Using data to improve graduation rates

SightLine is a nationally certified Women’s Business Enterprise (WBE) and Woman Owned Small Business (WOSB).

It's not often we get to look inside a college closure.  Jay Keehn lived it at Union Institute and University.

Dr. Keehn was at Union Institute and University fro 18 years until he left in 2023.  Like Jonathon Nichols with his book Requiem for a College and his experience at the closure of St. Joseph's College (IN), Jay Keehn takes us through the chronic mis-information shared at Union Institute and University.  He also shares the value of hindsight and what current faculty and staff should be on the lookout for.

The lessons from Union Institute and University are the same as from St. Joseph's. Faculty and staff cannot rely on their administration for timely and accurate financial health and viability information.

I created the College Viability App for Faculty and Staff to provide that information and enable comparisons of almost 1,300 private colleges in the U.S.  Click here to download the 2024 College Viability App for Faculty and Staff.  Purchase it before August 1, 2023 and receive a license for your entire faculty and staff to use the app.

This week's top headlines:

+ Cash is King at Lindenwood University

+ Do protests really impact enrollment that much?   Emerson College says it does.

+ U Arts (PA) closure is still a mess

+  Ryan Craig:  The Financial Responsibility Emperor Has No Clothes   

+  College sports is not a cure-all for enrollment and finances Concordia Ann Arbor is eliminating them all.

It is very difficult to see a strong fall enrollment term for almost all public and private colleges in the U.S.  There is some anecdotal evidence that publics are faring better than privates, but we won’t know until early this Fall.

More colleges will certainly close and many more will continue with cutbacks and layoffs.

The U Arts debacle really concerns me.  It is evident that this college did not have the management and leadership hutspa to run a college.  I am concerned that the chaotic closure process  there might become more common.  The short-notice closures are starting to happen more often.
 
If college closures become a national embarrassment, how will that impact the industry?  The students? The many stakeholders?
There will continue to be many colleges (Like Lindenwood University) that are financially strong and have the capacity to take in the students from closed colleges.  If a public perception continues to develop that college is a financial risk for too many students, the consolidation in the form of closures and consolidations will speed up rapidly.

Stay tuned.

College Viability series of Apps

2024 Private College Viability app for Executive Analysis
 

2024 Private College Viability app for Faculty & Staff

2024 Private College Viability app for Students & Families

PUBLIC COLLEGE APPS
Executive Analysis version

Faculty & Staff version

Students & Family version

Show note links:

Lindenwood University to lay off staff and cut positions amid enrollment fears

Hampshire College (Mass) cuts staff benefits citing financial problems

Emerson College Reveals Low Enrollment Numbers, Partly Due to Pro-Palestinian Protesters

Cincinnati university (Union Institute & University) resigns accreditation, likely to close later this month

Cornerstone University responds to our story on faculty cuts and the termination of humanities and arts programs

‘Trusting God,’ furloughed employees guide Clarks Summit University through financial crisis

A week after UArts closure, here are some questions answered and what comes next

University of the Arts lacks the cash to pay employees money it owes them under federal law

The Financial Responsibility Emperor Has No Clothes   (No link.  Search for Ryan Craig and The GAP newsletter)

A small university with a heavy investment in intercollegiate athletics shutters its sports programs

An important group of higher education leaders with a diverse set of experiences weigh in on the potential of a federal bailout of private colleges this Fall and the impact it would have on higher education.

The participants are Ricardo Azziz, Joe Sallustion, Sarah Holtan, and Brian Rosenberg. Bios are below.

Some of the questions addressed by the panel:

1.  Is a federal bailout of colleges a viable solution?
2.  What could be the potential long-term implications of federal bailout?
3.  What is the best case scenario for the impact of the FAFSA Debacle?  Worst case?
4.  Is there a role for state governments to play in financially supporting private college?
5.  Each participant commented on: "A bailout might create a moral hazard where colleges rely on the expectation of government support instead of managing finances responsibly."

Plus much more.

Dr. Ricardo Azziz:  With over 25 years of leadership experience, Dr. Azziz serves as Principal, Strategic Partnerships in Higher Ed (SPH) Consulting Group, a firm specializing in advising and guiding institutions of higher education concerning opportunities for corporate restructuring, including mergers, consolidations, acquisitions, and corporate conversions.

Among numerous executive positions that he has held, he led the merger that resulted in Georgia Regents University (now Augusta University), serving as founding president, and previously served as president of Georgia Health Sciences University, leading the merger and alignment of various clinical entities to create the state’s only public academic health system (now Augusta University Health System). He has also served as senior executive within the State University of New York (SUNY) system administration and as member of the Board of Trustees of the Southern Association of Colleges & Schools-Commission on Colleges (SACS-COC).

Among other venues, he has written for or his work has been cited by the Huffington Post, TIME magazine, the Wall Street Journal, The New York Times, the Atlanta Constitution, Forbes, US News & World Report (USNWR), The Chronicle of Higher Education, Inside Higher Education, the Atlanta Business Chronicle, University Business (UB) Magazine, and many others. Dr. Azziz is a prolific writer with more than 200 articles, blogs, and op-eds in the higher ed space (in addition to over 400 publications in the biomedical sciences).

He is co-author of ‘Mergers in Higher Education: A Proactive Strategy to a Better Future?’ published by the TIAA Institute (2017) and ‘Strategic Mergers in Higher Education’, published by Johns Hopkins University Press (2019). He also writes a regular column in Higher Ed Dive, ‘Merger Watch’. He is completing ‘Major Future-Oriented Institutional Restructuring in Higher Education: A Different Kind of Leadership’ for the TIAA Institute (pub. Spring 2023) and ‘How to Lead Big Scary Change’ for Johns Hopkins University Press (pub. summer 2024).

Dr. Azziz is on the faculties of the University at Albany, SUNY and the University of Alabama at Birmingham, and a fellow of the Rockefeller institute of Government, studying change management, mergers & consolidations, strategic planning, leadership development, and diversity, equity & inclusion in higher education. He is the founder of the non-profit Foundation for Research and Education Excellence (FREE Foundation), where he is also founder and director of the Center for Higher Education Mergers & Acquisitions (CHEMA).

Dr. Joe Sallustio:  Are you looking for an expert in higher education with a unique blend of experience in on-ground and online administration? Well, you've found me! I'm Dr. Joe Sallustio, and I'm a leading voice in the industry with over two decades of experience in marketing, enrollment, finance, financial aid, student services, accreditation, and compliance.

My passion for education comes from my belief that it is the key to creating sustainable change in the world. It may surprise you to know that I actually hated school as a child, but I went on to earn a doctoral degree and dedicated my life to changing the lives of others through education. As co-founder and host of "The EdUp Experience," the nation's leading higher education podcast, I've had the pleasure of interviewing over 200 college and university presidents, providing insights into academic leadership and the future of higher education.

I'm a strategic and innovative leader who has worked with both non-profit and for-profit educational institutions, driving growth initiatives and financial operations. If you're interested in learning more about the future of higher education, check out my book, -

"Commencement: The Beginning of a New Era in Higher Education," which I co-authored with Kate Colbert and features contributions from Elvin Freytes - as featured in FORBES

I'm always excited to connect with others who share my passion for education and discuss how I can help your institution thrive in today's ever-evolving education landscape.

Dr. Sarah Holtan:  +Experienced senior leader with a successful record of propelling business goals in academia and trades industries. At my core, I’m a builder and fixer.
+President & Founder of High-level Leadership, LLC, a thought engine designed to help academic leaders find solutions for the challenges facing higher ed. www.highlevelleadership.com.
+Serve as a trusted advisor to college and corporate Presidents.
+As a professor, I design and execute curriculum for 15 communication and business courses, including face-to-face, online and hybrid learning formats.
+Asking questions is my key tactic to achieve deep understanding and in turn, make sound judgments via discernment of complex issues.
+Currently serving on three boards for private companies in the trades. Certified in private board governance by the Private Directors Association in September 2021.
+I’m passionate about the training and development of others for positive impact in their professional lives, their organization, and the larger community. Developed training programs for senior and mid-level leaders on conflict resolution, maximizing meeting time, navigating career transitions, communicating for internal and external stakeholders, media training, connecting with others, and influencing at every level.
+Proficient in Microsoft Office, including Teams, zoom, and Adobe Creative Suite.

Dr. Brian Rosenberg:   Brian Rosenberg is currently visiting professor at the Harvard Graduate School of Education. From 2003 until 2020, he served as the 16th President of Macalester College. He is the author of Whatever It Is, I’m Against It:  Resistance to Change in Higher Education, published in 2023 by Harvard Education Press. His articles on higher education appear regularly in The Chronicle of Higher Education and have also appeared in publications including The New York Times, the Washington Post, and the Los Angeles Times. He serves as senior advisor and director at the African Leadership University and as a member of the board of the Teagle Foundation. 

Rosenberg received his B.A. from Cornell University and his Ph.D. in English from Columbia University. Prior to arriving at Macalester, he served as dean of the faculty at Lawrence University and as professor and chair of the English Department at Allegheny College. He is the author of two books and many articles on Victorian literature.

We are entering the hot weather season  -- and the really hot seat season for colleges. There is increasing anecdotal evidence that the FAFSA debacle will cause much trauma this Fall and Spring.  I am starting to see a small number of colleges take what I am going to call ‘proactive layoffs and cutbacks’.

This week:

+ Philadelphia’s University of the Arts is taking some real heat for its really short-notice closure announcement

+ A reporter it Topeka KS demonstrates, again, how USNWR data can be grossly misrepresenting.

+ Two stories about vocational and entrepreneurial trends replacing traditional college

+ June 21st panel podcast on FAFSA and federal bailout

Show notes:

College Viability series of Apps

2024 Private College Viability app for Executive Analysis
 

2024 Private College Viability app for Faculty & Staff

2024 Private College Viability app for Students & Families

PUBLIC COLLEGE APPS
Executive Analysis version

Faculty & Staff version

Students & Family version

Show note links:

Minnesota university ends 30% of degree programs, cuts staff

UW-Oshkosh closing Fox Cities campus in spring 2025, blaming declining enrollment

Pressure to investigate closure of Philadelpia's U Arts ramps up with latest letter from faculty union

A Philadelphia arts school gave 7 days' notice it was closing. Now its students and faculty want answers.

These 3 Kansas schools landed in the top 100 Midwest colleges by U.S. News & World Report

Smith optimistic about fall enrollment push as well-known bond rating agency expresses concern about Marshall’s finances  (WV)

Fewer Michigan high school grads are filling out the FAFSA. Colleges are feeling the difference.

Education trends in Fayetteville and the U.S. show shift toward vocational programs

Adults who skipped college urge high school grads to follow suit, say rewards are ‘immeasurable’

Alverno College declares financial emergency, plans to cut majors and graduate programs

Dean Hoke, President and CEO of the American Association of University Administrators joins me for a special episode of TWICV.

Some of the questions we cover include:
1.  Dean's vision for up and coming higher education leaders

2.  He discusses the 'triple witch' of circumstances facing colleges.

3.  I ask Dean about the differences in leadership of short-notice closed colleges and those who gave their students plenty of notice before closing.

4.  We also look at the best and worst case scenarios for the FAFSA Debacle in the Fall of 2024.

5.  I asked Dean if students and their families need a fiduciary to look out for their best interests.  His response was intriguing.