This Week In College Viability (TWICV)

There is nothing like the voice of experience.  Jon Nichols experienced a private college closure in 2017 at St. Joseph's (IN).

Mr. Nichols shares similarities and differences from the private college clousure he experience with what he knows about the recent closure of Fontbonne University in St. Louis

His book, 'Requiem for a College' describes the emotional events leading up to the closure along with the day that announcement was made.  In addition, Jon researched the work the college leadership did and did NOT do during that tumultuous time.

If your college is experiencing a serious financial challenge, 'Requiem for a College' may help you prepare for and navigate what is ahead.

You can get a copy of Jonathon's book 'Requiem for a College' HERE

This Week in College Viability for April 1, 2024

1.      Layoffs Cutbacks and Closures

2.      Faculty power under pressure in KY

3.      St. Martin’s WA on the watch

4.      Bluffton / U Findlay merger:  not enough

5.      West Conn. U:  Pom Poms from the president

6.      Lesley U faculty is really good at no-confidence votes – Now if they could only graduate more than 50% of their students

7.      Financial statements:  Are they hiding information from us.
 And more ............

Show Note Links:

Oak Point University announces imminent closure of Oak Brook, Chicago campuses

Northland employees and alumni seek more time to raise funds as college faces closure

University of Kentucky President Proposes to Strip Faculty Body’s Power

‘It just breaks my heart’: Parent of Birmingham-Southern student-athlete reacts to school closing

‘Dire’ financial issues behind potential cuts, says St. Martin's University (WA) president

WestConn president vows to grow university, not just survive budget deficit

A Third Vote of No Confidence at Lesley University     

Making College Mergers Easier in New York

St. Norbert College students stage walkout, protesting recent cuts

Purchase one of the 2024 College Viability series of Apps

Debbie Kepple-Mamros is my guest for this special episode of This Week in College Viability.  

Debbie leads the institutional research function for the Des Moines (IA) Area Community College system.

She provides guidance on the IR function, adult markets, 'data days' staff training, the nuances about counting students, and much more.

Dr. Paula Langteau was president at Presentation College.  

She developed critical processes for assessing an institution's financial viability and implementing key protocols to close an institution with dignity and compassion. The Higher Learning Commission heralded that work as the most comprehensive in assisting in the transition of students, faculty, and staff. Developing 36 Teach-Out agreements (the largest number in HLC experience), she successfully transitioned 88% of students, compared to a 47% national average. 

I have heard no one else share such meaningful perspective and guidance

Here are the headline stories for the March 25, 2024 episode of 'This Week in College Viability'.

MU Is our cutback college this week – but in a different business sense.

Is Hampshire College really on its way back?

Columbia College in Chicago is searching for couch money to survive

Bluffton U and U of Findlay merger:  Is two enough?

BSC is back in the AL legislature.  I bet there are many more stories like this next year.

IA wants a heads-up if a college is closing.

Concordia AA and collateral.

What is a 'going concern'?

Show note links:

Marquette University plans to cut $31 million by 2031

Back from the brink, Hampshire College is nearing financial viability.

(Columbia) College could downscale future commencement, Manifest celebrations to help save costs

College postpones tenure-track appointment decisions, ‘shocking’ faculty who were up for promotion

Bluffton and University of Findlay announce merger

Birmingham Southern loan viability remains in question after public hearing

Year after Iowa Wesleyan shuttered, lawmakers proposed private-campus closure mandates

For This Small College, a Merger Was a Lifeline. Now It’s the Focus of Suspicion.

Gary commentary:  Going Concern – Audited financial statements – auditors have a responsibility to share their concerns if an organization may not be able to continue as a viable business.  The term used is ‘going concern’.  A going concern is a business that will continue.  

Issues with a college being able to continue as a going concern is a big deal.  I have only seen it referenced 2x in the past 4 years.  In my experience, it has not been referenced in the financial statements of colleges that have closed.  As I get time, I am going to research a set of closed colleges to see if their auditors referenced a ‘going concern’.  I did check NDC (OH).  No special reference was made by the auditors that NDC might not be able to survive as a going concern.

SOPM.  Go to Federal Audit Clearinghouse. (I have a YouTube video) and search for a college.  Do a Ctrl-find for going concern.  You will normally see two basic references.  Those are not a big deal, standard stuff.  If you see more, make sure to read them.

Here are some of the news and commentary for March 18, 2024

1. Carbon Monoxide detectors turned off at Evergreen State College
2. NDC student impact story.
3. Public college consolidation continues to jump into HE news cycles.
4. Dept of Ed wants pathetic minimum graduation thresholds
5. FAFSA fiasco update
6. EY Parthenon dances around the details on high risk colleges
7. Wrap with a review of Scott Carlson’s article on gauging a college’s financial health

Purchase the College Viability apps at:

2024 Private College Viability app for Executive Analysis
 

2024 Private College Viability app for Faculty & Staff

2024 Private College Viability app for Students & Families

NOTE:  The 2024 PUBLIC College Viability apps will be out the week of March 18th.

Show Notes: (Some of these may be behind pay walls.)

‘I don’t have control at all of my future right now’: Notre Dame College students try to figure out what comes next as college closes

Fontbonne closure brings tears, and questions about the future of higher education

As states eye college consolidation, leaders should draw from previous lessons learned

Biden Administration Wants Accreditors to Set Benchmarks For Student Outcomes

COLUMN: The FAFSA fiasco could roll back years of progress. It must be fixed immediately

IVM finds heightened risk in higher education as stimulus funds expire (EY Parthenon story)

Why It Can Be So Difficult to Gauge a College’s Financial Health

Here are some of the stories for the March 11th 'This Week in College Viability podcast.

Student impact story on NDC closure

Stories from Fitch & Bloomberg on HE

Mississippi joins the merger/consolidation movement

U Virginia: 1000 undergrads to pay the base salaries of DEI staff?

Basketball team without a college

Show notes and links:

St. Norbert College announces further layoffs amid ongoing budget issues

Tallmadge teen devastated after college announces closure days after his football commitment

Notre Dame College students mull next steps after news of closure

Vulnerable US Private Colleges at Risk from New Federal, State Actions

Mississippi universities "efficiency" would be studied under Senate bill

1000 undergrads to pay the base salaries of DEI staff

Massachusetts ramps up financial oversight for 2 faith-based colleges

Where are we headed this week?

Well, we'll start off with another unsurprising college closure announcement this past week. Get ready for some surprising ones in the next two months as the college year winds down.

There was an interesting presidential departure from a struggling Illinois public college.

'Delusional' is this week's theme for both faculty and college leaders

It's time to purchase your 2024 Private College Viability App.  Click here to see your options.

If you want to join one of my weekly College Viability App webinars, click here.

Here are the show note links.

The big cutback was NDC in Ohio.

President of Western Illinois University is leaving the position at the end of March. (Note:  This college needs revolving doors to the president's office.)

Concordia University announces cut to staff, faculty at both campuses

Webster University can tap restricted donor money, judge rules

Manhattan College Betrays Faculty

These Tenured Professors Thought They Were Safe From Manhattan College’s Latest Layoffs. They Were Wrong.

The IHE College President’s Survey

How can governors oversee successful higher education mergers?

College closings and mergers by state  HED

Links to this week's stories.

Cutbacks & Layoffs at Wright State and U Toledo

IHE must be following me.  Their story last week about recent cutbacks and layoffs mimics the stories I have shared here over the past month or so.

Chicken and College:  Interesting partnership

A double dip enrollment recession? (Newsletter, no URL)

Why Is the College-Completion Rate Stagnating?   

Concordia leaders open dialogue with students, employees through town hall meetings

Rating Agencies on the Outlook for Higher Education

Promotional pricing for the 2024 series of College Viability Apps continues through the end of March.

Private College Viability App for Executive Analysis

Private College Viability App for Faculty & Staff

Private College Viability App for Students & Families

Here are the stories and commentary in the February 19 TWICV 

Get your 2024 Private College Viability App here.   Select from a version for executives, one for faculty & staff, and one for students and families.  Special promotions are now available for each.

Do you want to sit in on one of my free webinars on how to use the College Viability Apps?  Click here to reserve a spot.

1. FAFSA delay responses:  Good one at SLU.  Mundane responses elsewhere
2. Webster U wants to re-direct restricted donations to unrestricted.  Not going over well.
3. UNC Greensboro Faculty Oppose Academic Cuts – Faculty protests are about as new as snow is white.  Grass is green and the sun is hot.
4. Multiple lawsuits filed against Saint Augustine's University for not paying bills on time – We have seen that before.  Let’s call it a likely indicator of imminent closure.
5. Columbia College (Chicago)  President is there one day and gone the next.
6. $1.00 enrollment deposits at Upper Iowa U.  You would be better off spending $29 to buy the 2024 PCVA and learn it might not be a good $1.00 investment.

Show Note Links:
Marietta College to cut 3 dozen administrators and faculty

Concordia University Wisconsin will cut staff, 'reimagine' its Ann Arbor campus

CUNY's Queens College Faces Backlash Over Faculty Layoffs

University of Arkansas Fort Smith considering the removal of five degree programs

Gov. Kevin Stitt (OK) wants higher education consolidation. What would that look like?

‘Time for Plan B’: The FAFSA Waiting Game Is Forcing Colleges to Adjust on the Fly

Donors sue to stop Webster University from using scholarship cash

Of Course UNC Greensboro Faculty Oppose Academic Cuts 

Multiple lawsuits filed against Saint Augustine's University for not paying bills on time

Chair of the Board of Trustees, Stephen Squeri, Responds to MC CFA’s Vote of No Confidence

On TUESDAY:  Kim pledges to meet more regularly with students as financial crisis deepens