Maryland lawmakers work to finalize state budget - Leila Weah, WMDT
Recession Realities in Higher Education
by Ray
2h ago
The budget includes everything from education funding to environmental needs. Senator Mary Beth Carozza said she’s pleased with the momentum they have been making to finalize the funds, and the advocacy that the community has brought to the table. “Were in session for 90 days and that is our one constitutional requirements, to do that [budget] within the 90 days,” Senator Carozza said. “We are on track with the senate moving first on the budget, and I am very happy that there are no new taxes in the budget. I’m glad to see some of those community college cuts have been restored.” Se ..read more
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Ohio public universities face massive budget cuts. Here's what's at risk - the Dispatch
Recession Realities in Higher Education
by Ray
1d ago
Penn State University plans to cut $94 million from its budget next fiscal year, a change its leaders say will move the university toward long-term stability. The University of Arizona announced a $177 million budget shortfall in January and a plan to "right size" through hiring freezes and budget cuts. Faculty layoffs and discounted degree programs are a result of West Virginia University's $45 million budget shortfall and declining enrollment, President E. Gordon Gee said last year. Public universities aren't alone in their struggles. Baldwin Wallace University, a Northeast Ohio private univ ..read more
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Regents on the Hot Seat - Josh Moody, Inside Higher Ed
Recession Realities in Higher Education
by Ray
1d ago
Boards in Arizona, Hawaii, Michigan and Wisconsin, have faced shake-ups and threats of removal recently amid culture war clashes and self-inflicted controversies. Brazen scandals, personal squabbles and partisan politics have prompted shake-ups and recent threats to remove members of governing boards in four states: Arizona, Hawaii, Michigan and Wisconsin. In some cases, such as at Michigan State University, board members have been accused of dramatic misbehavior—including accepting donor kickbacks and retaliating against faculty. In others, such as at the Universities of Wisconsin system, the ..read more
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Mississippi University for Women urges legislators to keep the school open - Emily Waggster Pettus, AP
Recession Realities in Higher Education
by Ray
2d ago
Leaders and alumni of Mississippi University for Women rallied Tuesday at the state Capitol, urging legislators to kill a bill that would make the school a branch of nearby Mississippi State University. “Not everyone belongs in a big-box university,” MUW President Nora Miller said. “We really grow leaders. We have students who flourish with the extra attention and the leadership opportunities that are open to them on a small campus.” The rally happened the same day that a divided state Senate advanced a separate bill that would create a group to study whether Mississippi should close some of i ..read more
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U of A credit rating assessment downgraded to "negative" - Ellie Wolfe, Tucson.com
Recession Realities in Higher Education
by Ray
2d ago
Despite previously rating the University of Arizona as “credit positive,” Moody’s Investors Service, a nationwide bond credit rating business, has changed its outlook on the school to “negative.” “The revision of the outlook to negative is driven by uncertainty around the pace of the university’s operating performance recovery following identification of a structural imbalance along with continued integration risk associated with the University of Arizona Global Campus,” the report from Moody’s, dated March 4, reads. https://tucson.com/news/local/education/college/university-of-arizona-tucson ..read more
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A path forward? Lawmakers could seek to restructure Phoenix purchase - Kevin Richert, Idaho Ed News
Recession Realities in Higher Education
by Ray
3d ago
Armed with a pair of new legal opinions, lawmakers could make a late-session push to restructure the University of Phoenix deal. A restructuring could depend on two variables. First, the University of Idaho would need to be willing to rework the deal, months after reaching an agreement with Phoenix. Second, lawmakers would need to be willing to endorse the U of I’s $685 million plan to acquire Phoenix, a for-profit online university with a checkered national brand. https://www.idahoednews.org/features/university-of-phoenix/a-path-forward-lawmakers-could-seek-to-restructure-phoenix-purchase ..read more
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New Jersey City University directed to find partner for financial stability - Natalie Schwartz, Higher Ed Dive
Recession Realities in Higher Education
by Ray
3d ago
A state-appointed monitor overseeing New Jersey City University’s finances and governance has directed that the public institution partner with another college to put it on better financial footing, according to a report released Tuesday.  New Jersey lawmakers approved a law last year allowing the state’s higher education secretary to assign a monitor to financially struggling public institutions to help them avoid catastrophic budget failures. The law was enacted a year after New Jersey City University declared a financial emergency in the face of a nearly $23 million deficit.  htt ..read more
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Surviving Not One but Two College Closures - Johanna Alonso, Inside Higher Ed
Recession Realities in Higher Education
by Ray
4d ago
When Alderson Broaddus University shuttered last August, several students transferred to Notre Dame College. Now it’s closing, too. My mom and I went and visited. I honestly loved it and committed right on the spot.” Two years later, though, the university abruptly shut down, just before the start of Cooper’s junior year. Disappointed but determined, she sought to transfer quickly to another institution that offered acrobatics and tumbling, a sport she had come to enjoy. She, along with six other women from the Alderson Broaddus team, ended up at Notre Dame College, just outside of Cleveland ..read more
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'My bank account is at $59 right now' Saint Augustine's University employees struggle to make ends meet after not getting paid again - Aaron Thomas, WRAL
Recession Realities in Higher Education
by Ray
5d ago
As Saint Augustine's University navigates through financial challenges, employees shared their concerns with WRAL News as they continue waiting for multiple paychecks. One employee said she's used money from her savings, and she's behind on rent due to the missed paychecks. "I haven't been able to buy essentials like groceries; haven't been able to buy basic stuff like toilet paper," she said. The university employee asked to remain anonymous out of fear of retaliation from the school's governing board. Two former St. Augustine’s University employees, former president Dr. Christine McPhail and ..read more
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Fontbonne University in Missouri to close due to budget problems and declining enrollment - JIM SALTER, ASSOCIATED PRESS
Recession Realities in Higher Education
by Ray
5d ago
A century-old university in suburban St. Louis will shut down next year, its president said Monday, citing declining enrollment and ongoing budget problems. Fontbonne University, in Clayton, was founded by the Sisters of St. Joseph of Carondelet in 1923, first as a place to educate young Catholic women. Enrollment for the fall semester was 874 students, including 650 undergraduates. A decade ago, Fontbonne's enrollment was about 2,000 students, the St. Louis Post-Dispatch reported. University President Nancy Blattner said in a statement that Fontbonne will not accept freshmen for the fall 2024 ..read more
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