Finance: Page 9
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Penn State offers buyouts in budget-cutting effort
Faced with chronic deficits, the university is offering faculty and staff at its 20 commonwealth campuses a year’s pay to retire early or leave their jobs.
By Ben Unglesbee • May 10, 2024 -
Permission granted by St Cloud State University
‘A matter of right-sizing’: A look at St. Cloud State’s plan to cut 46 degrees
The Minnesota university still has a strong revenue base but faces too-high expenses, according to its acting president.
By Ben Unglesbee • May 8, 2024 -
Explore the Trendline➔
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TrendlineCollege finances in a rapidly changing sector
Colleges are increasingly tightening their belts and pursuing alternative revenue sources amid declining enrollment and increased competition.
By Higher Ed Dive staff -
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State and local funding for higher education rose 3.7% in FY 2023
This marks the 11th year in a row for appropriations increases, according to an annual report from the State Higher Education Executive Officers Association.
By Natalie Schwartz • May 8, 2024 -
Retrieved from Columbus State Community College on May 07, 2024
Columbus State Community College pares back staff to close budget gap
The Ohio community college faces a reported $6.8 million deficit and has cut 14 positions as it realigns resources.
By Ben Unglesbee • May 7, 2024 -
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University of Minnesota plan would cut budgets, raise tuition amid 3.3% cost increase
The institution is still grappling with “across-the-board inflation” going into the next academic year.
By Ben Unglesbee • May 7, 2024 -
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Ed tech venture funding hit lowest point in a decade in Q1 2024
Ed tech venture funding in 2023 reached just $2.97 billion, down 86% from 2021’s all-time high of $20.8 billion, according to a HolonIQ analysis.
By Roger Riddell • May 6, 2024 -
"Northland College Campus" by Tschellnc is licensed under CC BY-SA 4.0
After brush with closure, Northland College unveils plan to downsize
The liberal arts institution is cutting $7 million from its budget and refocusing around eight in-demand majors.
By Ben Unglesbee • May 2, 2024 -
Drake University to cut 3 academic programs as it tries to balance budget
In approving the changes, the Iowa nonprofit’s board of trustees pivoted away from more significant cuts recommended earlier this year.
By Ben Unglesbee • April 30, 2024 -
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University of Saint Katherine shuts down after less than 15 years
The California institution faced a “steep” cash shortfall and “extraordinary inflation,” according to a campus message shared on social media.
By Ben Unglesbee • April 30, 2024 -
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Private regional colleges will face stiff competition from public institutions, Moody’s predicts
These challenges will be particularly pronounced in the Midwest and Northeast, where the pool of traditional college-age students is expected to shrink.
By Laura Spitalniak • April 26, 2024 -
University of St. Thomas, Minnesota
University of St. Thomas cuts staff amid $10.5M budget shortfall
The Catholic college in Minnesota cited “headwinds affecting all of higher education” as it tries to close a budget gap.
By Ben Unglesbee • April 24, 2024 -
"Northland College Campus" by Tschellnc is licensed under CC BY-SA 4.0
Northland officials sound a hopeful note after ‘transformative’ donations
The financially struggling institution said it received several gifts this week that have changed “the scope of the situation.”
By Ben Unglesbee • April 24, 2024 -
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How University of Arizona plans to shrink its deficit by $110M
The institution’s interim chief financial officer announced cuts and new revenue opportunities. Now, the college is eyeing a balanced budget by fiscal 2026.
By Ben Unglesbee • April 24, 2024 -
Courtesy of Findlay Bluffton Future
HLC 2024Waiting too long can doom a college merger, experts say
The best window for consolidation is usually gone by the time colleges are deeply distressed, panelists at Higher Learning Commission’s conference said.
By Ben Unglesbee • April 19, 2024 -
The image by jeff covey is licensed under CC BY-SA 2.0
HLC 2024‘We are not hospice’: The race to get faster in predicting college shutdowns
The Higher Learning Commission has been studying institutional closures under its purview to understand the signs of distress, officials with the accreditor said at its annual conference.
By Ben Unglesbee • April 18, 2024 -
Sponsored by Nelnet Campus Commerce
How flexible tuition payment options keep students enrolled
Nelnet Payment Plans: Ease financial burdens and keep students enrolled with flexible tuition payment options.
April 15, 2024 -
The image by KyleGeorge is licensed under CC BY-SA 4.0
Greater financial strains loom over Wisconsin’s public universities, review finds
The system's president called on state lawmakers for more funding after financial reviews showed universities are facing deficits and liquidity issues.
By Ben Unglesbee • April 12, 2024 -
"Sinclair Community College, 3rd Street and Perry Street, Dayton, OH" by Warren LeMay is licensed under CC BY-SA 2.0
Ohio’s Sinclair Community College to shutter 2 locations
Although the two sites together enrolled around 5,500 students at their peak, they hosted just one class between them this semester.
By Ben Unglesbee • April 11, 2024 -
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Biden’s new income-driven repayment plan faces another legal challenge
Seven Republican-controlled states filed a lawsuit against the plan, arguing that it amounts to an unauthorized grant program.
By Laura Spitalniak • Updated April 16, 2024 -
Permission granted by Goddard College
Goddard College in Vermont to close
With insolvency looming, the institution opted to shutter permanently and struck a teach-out partnership with Prescott College in Arizona.
By Ben Unglesbee • April 10, 2024 -
"Northland College Sign" by Tschellnc is licensed under CC BY-SA 4.0
Northland College misses fundraising target, but will stay open — for now
The Wisconsin institution declared financial exigency to revamp its model and budget in a bid for survival.
By Ben Unglesbee • April 5, 2024 -
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In reversal, Education Department to reprocess all FAFSAs hit by tax error
The process will affect between 15% and 20% of previously submitted federal financial aid applications.
By Laura Spitalniak • April 5, 2024 -
Courtesy of 2U
Education Department is ‘concerned’ about potential OPM failures as groups sound alarm on 2U
2U acknowledged that it needs to improve its financial position but stressed it is not considering options that would cease its operations.
By Ben Unglesbee • Updated April 8, 2024 -
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Campus spending on existing buildings jumped over 26% in 2023
College leaders are acknowledging the need to maintain their old facilities. But inflation has eaten into the increased spending.
By Ben Unglesbee • April 5, 2024 -
Vermont College of Fine Arts to become wholly owned subsidiary of CalArts
VCFA said it will have its own board, president and faculty under the deal while benefiting from California Institute of the Arts’ facilities and resources.
By Natalie Schwartz • April 3, 2024
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