This Week In College Viability (TWICV)

We talk about the deplorable state of graduation rates in American Colleges.

My friend, Kate Colbert offers these analogies:

"Buy this car. There's a 50% chance it won't even run 4 years from now."

"Just $1,100 for the new iPhone. No warranty. If it arrives dysfunctional, try rebooting it for 4 years and then we'll tell you we're sorry it didn't work out."

"Spent $250,000 on a house and paid your insurance premiums and then it burned down? Oh, yeah -- sorry about that. Nothing we can do. Maybe homeownership just wasn't for you. It isn't for everyone. I'm sure it made you feel more well-rounded while it lasted, though. And that's a priceless investment."

The   College Viability Manifesto

1. College is good. Really good.  Go if you can.
2. Graduation is better.
3. Some colleges will not survive.  Many will.
4. Only consider colleges in comparatively good financial health
5. Your FAFSA tell colleges about your finances.  The College Viability App show you theirs.
6. Enrollment trends matter. Graduation rates matter even more.
7. Popularity indicators are important.
8. Closing colleges will cost you A LOT of money. 
9. Support higher education in the United States. It makes a difference in lives.

Here are the links to stories from today's podcast show:

Can Free Graduate Tuition Boost Undergrad Enrollment?

Small Colleges Turning To These Tuition Deals To Boost Enrollment

Hundreds Of Colleges Now Offer Automatic Admission To Students   

Multnomah University to Merge Into Jessup University

Fontbonne University mulls cuts amid plummeting enrollment, Revenue

Bradley University looks to cut over 20 programs and 68 faculty positions

U. of Arizona Has a ‘Major Problem’ With Finances, Its President Says

UW-Green Bay considers discontinuing programs, citing student demand and budget constraints

Birmingham-Southern lands potential $5M investment to keep college open   

(Columbia – Chicago) College addresses recruitment, retention amidst faculty strike

November 6 TWICV Gary Stocker - your host and college quality assurance coach.  Providing a perspective on the financial health and viability of colleges in the U.S.  ---- Respectfully asking to be your College Fiduciary.

Stories:  (Links below.) Even private colleges can get ratings from Fitch ratings, Too many computer science majors, where is tuition pricing power headed, Birmingham Southern can’t stay out of the news, 11 colleges officially hit the panic button by releasing the ‘College is Worth It’ campaign, what is an Allied Health degree?, and finally, Gary’s College Press release critical thinking mini-course.

Story Show Note Links:

Fitch Affirms and Withdraws College of Saint Rose's (NY) 'BB' Ratings

Universities Can’t Accommodate All the Computer Science Majors

Pricing power has evaporated   - Rick Seltzer at Chronicle in his Daily Briefing of 11-2-23

Birmingham-Southern College president shares "new potential sources of funding" after loan rejected

Illinois public universities see continued upward trend in freshmen enrollment

‘College is Worth it’ by led by the National Association of System Heads, includes 11 public higher education systems

This is a special episode today our guest is Dr. James Brasfield a retired faculty and retired community leader in the St. Louis region.

Jim has been involved with Webster University in any number of roles over the past few decades.

His perspective on Webster and all of  their challenges - from rent payment to leadership compensation to board trustees activities all provide value that that we can't get from the outside so I invited Jim to join us today 

While the Webster University Board of Trustees created a perfect case study on how to NOT handle bad press, the issue of board involvement and guidance is one I see in too many colleges.  

I spend a lot of time espousing the weaknesses of colleges and justifiably so. But today I wanna share something I published about a year ago. It is my College Viability Manifesto. 

From my mind, the value of a college education is without any question desirable. Is it always ideal? Is it always perfect? No, but that's not the question. It is desirable. And I speak from experience as a first generation college student from a large family. 

I put my strong beliefs about that college education for me and for you, along with some important considerations and qualifications into what is the college viability manifesto. Listen and watch the podcast to see the 10 items and how to consider them as you choose and evaluate colleges.

This is a two-fer day.  My podcast software ate my recording from October 23rd.  So I have already re-done that one.  Whether the error was user-related or not remains an unanswered question.  I like the podcast software, so I am going to take the blame for this one.

We have a couple of stories from Kelly Meyerhofer at the Milwaukee Journal Sentinel.  She is busy with all of the public and private college trauma and news in Wisconsin.  There are more college presidents blowing PR smoke – we will sort through that for you.  And the Biden administration released new and stricter rules on holding college accountable.  We’ll offer our take on what the means for the financial health and viability of colleges.  Plus Much More.

Show note story links:

The Public Is Giving Up on Higher Ed

With UW campuses in West Bend and Fond du Lac closing, students and staff are stunned and scrambling

Tuition Pricing: When the Road Less Traveled May Not Be the Best Solution 

Colleges Confounded by Flood of Borrower-Defense Claims   

Newman president addresses school's budget woes

Newman University to discontinue eight undergraduate majors

Education Department unveils stricter college oversight rules

Carthage College professors were told to teach more without additional pay. That didn't sit well with them.

On our list of colleges to cover today is:  Lesley University, Virginia universities, Clarkson University, student reactions to closing of UWM Washington County, Avilla, IL Wesleyan, and Birmingham Southern is mad because the state treasurer won’t let them borrow money.

Show Notes and Links:
Lesley University students, professors protest mass layoff of liberal arts faculty

Virginia universities increasingly eyeing guaranteed admissions

US companies increasingly eliminate college degrees as a requirement amid 'out-of-control' school costs

Report: Clarkson University looks to cut faculty, programs in Northern NY

When Your College Is Staring Death in the Face
What are a trustee’s duties to an institution on the brink of disaster?

'I'm a little frustrated': UWM Washington County students react to branch campus closing

Judge approves Avila University’s petition to override donor restrictions

Higher Ed Now Has More Detractors Than Promoters   

IWU enrollment rises, with 16% increase in first-year students    WGLT | By Charlie Schlenker

Birmingham-Southern College Denied State Loan     Oct 19
Now the college is suing the state to fend off a possible closure

Elliot Felix founded and leads brightspot a strategy consultancy on a mission to transform the higher education experience  and to increase student success.

 His book How to Get the Most Out of College was published in January 2022 and provides 127 evidence-based tips for success in college and beyond. It received a blue star from Kirkus Reviews, calling it "A knowledgeable, enthusiastic guide packed with strategies and encouragement."

We discuss a few of the tips and get Mr. Felix's guidance on how to best use those tips.

Here is a link to Mr. Felix's book:  How to get the most out of college.

Here is a link to his course on the same topic.

Here is a simple list of 4 questions to ask colleges that will allow for a better assessment of their financial health and viability.

1. Has your FTE enrollment increased or decreased in the past 5-10 yearsNOTE: Ask about the FTE enrollment because that is a standard measurement that creates the best comparisons

2. What is your 4-year undergraduate graduation rate for the past 5-10 years?NOTE: This may be the most significant - and overlooked indicator. If a college has not graduated at least 50% of its undergraduate students in 4 years, there is reason to believe the mix of student is not academically strong AND they don't have the systems and processes in place to guide students towards graduation.

3. What is your current endowment value?NOTE: Use a minimum of $50M. If a college is below that number it suggests they don't have the systems and processes in place to solicit gifts from alumns, community, student and others. A college unable to reach that $50M over decades cannot reasonably be expected to do so on short notice when a financial crisis develops.

4. Has your admissions yield increased or decreased over the past 5-10 years?NOTE: Admissions yield is a popularity indicator. It shows what percentage of students a college accepted actually show up and start paying tuition. If the admissions yield is decreasing over a period of years, it strongly suggests that students are finding more acceptable options. NOTE 2: As a sidebar, the really selective colleges (Harvard, Yale, etc.) keep their admissions yields low on purpose - typically in the 5% range.