The financial impact of Covid 19 are taking a toll on colleges and Universities.
I saw this in the Greensboro paper this morning.
https://www.greensboro.com/news/educatio...3cd0d.html

"GREENSBORO — Less than a week after Guilford College announced that its president would step down next year, the private Quaker college has announced it's eliminating 45 staff positions and five visiting faculty roles.

In addition, 34 vacant positions will remain unfilled, a college spokesman said.

“This is a hard step to take,” Guilford College President Jane Fernandes said in a Wednesday news release. “But the COVID-19 pandemic has exacerbated financial challenges for virtually all colleges and universities nationwide. We have to recognize and respond to these challenges.” ".

Guilford College is a Quaker school founded in 1837. The college last year had about 2,100 students with an endowment of around $87 Million dollars.
In the sports world Guilford has given us NBA stars ML Carr and World B. Free, along with former Wake Forest head coach, Dave Odom.

The questions facing Guilford and every other college in America, can they hold on long enough to survive, and will there be enough "there" to re-build?

(07-03-2020 07:34 AM)XLance Wrote:  "GREENSBORO — Less than a week after Guilford College announced that its president would step down next year, the private Quaker college has announced it's eliminating 45 staff positions and five visiting faculty roles.

In addition, 34 vacant positions will remain unfilled, a college spokesman said.

Seems like Privates are taking this worse than Publics. I mean sure, the elite privates loaded with money like the USCs, Notre Dames, and Harvards will emerge fine, but the smaller privates without the big reputations and endowments are kind of on their own.

In contrast, even a small public has the backing of the state. E.g., the school i work at is a small public that gets by on a tight budget in ordinary times. I was bracing for the worst, but then the state was able to dump hundreds of millions in federal stimulus aid into the state higher-Ed system and our budget looks fine for the next year.

I think we are going to see a culling of the under 2K enrollment private liberal arts schools over the next couple decades but COVID may expedite the process. Only the ones with deep pockets and name recognition will be immune.

There are far too many colleges then current enrollment can sustain. Combine that with the online universities and more students choosing big Publix spells disaster for many small privates

University of Bridgeport (Division II - ECC) has entered into a campus sharing agreement with Sacred Heart and two other schools that don't play sports. They were in a bajillion dollars of debt...I haven't seen any indication on the future of Bridgeport athletics, but it seems unlikely they will stick around much longer.

Bridgeport was to be the #1 seed in the D2 East Regional in men's basketball when the virus shut down the tournament; they also won the national championship in D2 women's soccer just a couple years back.

https://www.insidehighered.com/news/2020...y-colleges

(07-03-2020 08:23 AM)dbackjon Wrote:  There are far too many colleges then current enrollment can sustain. Combine that with the online universities and more students choosing big Publix spells disaster for many small privates

Yeah, private colleges are in for a rough ride. The size of the college won't be the issue.

The most vulnerable private colleges will be the ones that are neither elite nor famous, the colleges where, if a graduate tells someone they went to school there, the most common response is a puzzled look and a "Where's that?"

This is only the beginning of a long list of school and universities to come!!!

(07-03-2020 12:17 PM)HoustonCougarNation Wrote:  This is only the beginning of a long list of school and universities to come!!!

There are some D1 schools being hit hard by Covid-19 as well that could be in danger of shutting down.

Siena
High Point
Presbyterian
Bethune-Cookman
Mount St. Mary's
Bryant
St. Bonaventure

Those are some of the few. The schools in the northeast will be the ones hit hardest with the midwest schools next.

(07-03-2020 07:55 PM)DavidSt Wrote:  

(07-03-2020 12:17 PM)HoustonCougarNation Wrote:  This is only the beginning of a long list of school and universities to come!!!

There are some D1 schools being hit hard by Covid-19 as well that could be in danger of shutting down.

Siena
High Point
Presbyterian
Bethune-Cookman
Mount St. Mary's
Bryant
St. Bonaventure

Those are some of the few. The schools in the northeast will be the ones hit hardest with the midwest schools next.

Once again David has zero links to back up any of his statements.

(07-03-2020 07:58 PM)utpotts Wrote:  

(07-03-2020 07:55 PM)DavidSt Wrote:  

(07-03-2020 12:17 PM)HoustonCougarNation Wrote:  This is only the beginning of a long list of school and universities to come!!!

There are some D1 schools being hit hard by Covid-19 as well that could be in danger of shutting down.

Siena
High Point
Presbyterian
Bethune-Cookman
Mount St. Mary's
Bryant
St. Bonaventure

Those are some of the few. The schools in the northeast will be the ones hit hardest with the midwest schools next.

Once again David has zero links to back up any of his statements.

yes I did. It is another thread.

How much private schools used auxiliarly cash

There is a spread sheet showing these schools in danger. Add this pandemics on top would hurt these schools more.

(07-03-2020 08:26 PM)DavidSt Wrote:  

(07-03-2020 07:58 PM)utpotts Wrote:  

(07-03-2020 07:55 PM)DavidSt Wrote:  

(07-03-2020 12:17 PM)HoustonCougarNation Wrote:  This is only the beginning of a long list of school and universities to come!!!

There are some D1 schools being hit hard by Covid-19 as well that could be in danger of shutting down.

Siena
High Point
Presbyterian
Bethune-Cookman
Mount St. Mary's
Bryant
St. Bonaventure

Those are some of the few. The schools in the northeast will be the ones hit hardest with the midwest schools next.

Once again David has zero links to back up any of his statements.

yes I did. It is another thread.

How much private schools used auxiliarly cash

There is a spread sheet showing these schools in danger. Add this pandemics on top would hurt these schools more.

That spreadsheet shows absolutely nothing of schools in danger. He says that he worries some will close, the same as people on this board and they didn't show any spreadsheet. All his spreadsheet shows is the breakdown of revenue sources in certain categories for 1,500+ private schools. That report includes schools like Denver and Baylor, two schools nowhere close to the brink of closure. On the other hand, I doubt too many people will miss the Acupuncture and Integrative Medicine College-Berkeley if it closed.

Nothing to see, so go somewhere else to spread your doom and gloom hysteria.

(07-03-2020 07:55 PM)DavidSt Wrote:  

(07-03-2020 12:17 PM)HoustonCougarNation Wrote:  This is only the beginning of a long list of school and universities to come!!!

There are some D1 schools being hit hard by Covid-19 as well that could be in danger of shutting down.

Siena
High Point
Presbyterian
Bethune-Cookman
Mount St. Mary's
Bryant
St. Bonaventure

Those are some of the few. The schools in the northeast will be the ones hit hardest with the midwest schools next.

Before I go insane, do you have proof of this or are you just going through your Database of college enrollment?

(07-04-2020 03:06 PM)Scoochpooch1 Wrote:  

(07-03-2020 07:55 PM)DavidSt Wrote:  

(07-03-2020 12:17 PM)HoustonCougarNation Wrote:  This is only the beginning of a long list of school and universities to come!!!

There are some D1 schools being hit hard by Covid-19 as well that could be in danger of shutting down.

Siena
High Point
Presbyterian
Bethune-Cookman
Mount St. Mary's
Bryant
St. Bonaventure

Those are some of the few. The schools in the northeast will be the ones hit hardest with the midwest schools next.

Before I go insane, do you have proof of this or are you just going through your Database of college enrollment?

Quote:In my last post, I broke down four key revenue sources that colleges typically rely on to balance their budgets. Each of the sources (tuition dollars, auxiliary revenue, state funding, and endowment/donations) is likely to take a hit during the next academic year. But auxiliary revenue from sources such as housing, dining, and other on-campus events is most at risk. Even if many classes return to campus in the fall, it will be with fewer students on campus at any given point.

These auxiliary revenues are especially important for small, residential private nonprofit colleges. These are the types of colleges that I worry will close if they cannot return as normal in the fall, and colleges that house a larger share of their students on campus are at greater risk than colleges with fewer students living on campus. Some colleges will likely try to get closer to normal housing density by allowing multiple students in a dorm room and treating them as a family unit for health purposes, but this also requires additional testing, tracing, and cleaning expenses.

Quote:To provide an example, the now-closed Green Mountain College in Vermont earned $15.41 million in total revenue in FY18, with $8.78 million (57%) coming from tuition and $4.69 million (30.5%) coming from auxiliary sources such as housing and dining. Only 40 colleges received more than 30% of their revenue from auxiliary sources, and these tend to be small liberal arts colleges or religious seminaries. Most colleges with on-campus housing received between 10% and 25% of their revenue from auxiliary sources, which is still an important part of the budget but not quite as crucial as smaller colleges.

I pointed out this might also be one of the reasons why Bethune-Cookman moved to the SWAC to help their image out to attract students. These schools are in debt as we speak, and with the Covid-19 still around? These schools will lose out on money from housing, dinning and other source of income. It does fit to what the OP is talking about for the financial issues. Guilford is listed in the spreadsheet.

A big part of the problem traces back to the end of the Guaranteed Student Loan program, terminated by the Republicans.

The struggling publics are essentially on welfare. It is nearly impossible to kill off a public college that is failing. Those who benefit from keeping the lights on lobby 24 7 365 to get their paycheck, as do locals, and as do others in the profession who worry the first one to go could lead to their school going.

Killing a public program, even when it makes no sense, is nearly impossible. You will be called a murderer. The concept of creative destruction is lost on the public (e.g., the development of the car killing off the buggy whip industry, which no doubt would still be with us if it were a government industry).

So of course Private schools bear the brunt. But they are also the most innovative.

(07-03-2020 07:55 PM)DavidSt Wrote:  

(07-03-2020 12:17 PM)HoustonCougarNation Wrote:  This is only the beginning of a long list of school and universities to come!!!

There are some D1 schools being hit hard by Covid-19 as well that could be in danger of shutting down.

Siena
High Point
Presbyterian
Bethune-Cookman
Mount St. Mary's
Bryant
St. Bonaventure

Those are some of the few. The schools in the northeast will be the ones hit hardest with the midwest schools next.

I live in High Point. The school has more money than they know what to do with. Nido Qubein has deep pockets and his donated millions back to HPU. Once again, you have no idea what you're talking about

A year ago, BCU could be credibly included in this conversation. But they’ve rallied their donors. They've also pulled off an improbable move to the SWAC for athletics. They’re gonna be fine.

In general, I think public schools are pretty much going to be free. There will be a cost structure for higher degrees like STEM. But gone are the days of $500 dollars per credit * 18-24 credits a semester. The out of pocket costs will be a fraction of that going forward as things move online. You won't have to maintain large lecture halls or provide local transportation between campuses so that's a money saver. It will be a setback for profit margins and revenue in most states and municipalities but not a back breaker considering all the personnel that will be laid off. Labs will need a higher cost structure, but honestly, just partner up with a private sector co-op program for the hands on stuff aside from general lab to hone basic skills for incoming freshman and sophomores. Low income student costs will be heavily subsidized by the tax payer. It was a long time coming.

The idea of educating the masses is turning out to be a poor one.
Educators/politicians promised a better life if only everyone had an opportunity to get a college education.
Now we have a bunch of college educated people that can't find jobs in their fields (pushed there by a educator/guidance adviser).
Free college education will not solve the problem, it will only encourage more people to enroll and contribute to the frustration of unfulfilled promises.

David,

Please tell us exactly where in the report it says that schools are in danger of closing; and quoting the author is not an acceptable response. It lists almost every private school in the country including some of the world's most prestigious universities like Duke, USCw, Tulane, Northwestern, MIT, and the Ivies. All of the D2 schools in the report have also been included in your unending lists of could be targets for D1/FBS.