Skip to comments.Enrollment Drop Creates Financial Shortfall [Oberlin College]
Posted on 09/10/2017 6:41:43 AM PDT by C19fan
Oberlin College is looking at a $5 million deficit heading into the 201718 academic year due to an unexpected drop in admissions. This not only strains budgets for the upcoming fiscal year, but also points toward a much larger budgetary issue that has been brewing under the surface for years. Newly-elected Chair of the Board of Trustees Chris Canavan, OC 84, announced the news in an email to faculty and staff June 14. The email, leaked to the Review by anonymous sources, was sent just a few weeks before Canavan officially took office, replacing six-year board member Clyde McGregor, OC 74.
(Excerpt) Read more at oberlinreview.org ...
they’ve even complained the food is racist:
Perhaps if they raise their annual quota of false rape accusations to five hundred, students will flock to the school.
The thing is...they only have around 2,900 students paying this $50,000 a year. If you just dipped ten-percent on freshmen in one single year...you’d have to lay off a dozen professors real quick. Sounds like they already had issues over the last year or two, and probably took out some loans to get by, and they are falling behind on debt.
If you were the parent of some kid bent on ‘magic-ticket-degree’ and all this antifa/Marxism was pay-back after four years...you’d tell the kid to find another college for entry. I’ll bet that the college is shut down within five years because of debt issues.
Michelle Malkin graduated from Oberlin.
I’ll bet their bigger problem is more difficulty attracting FULL-PAY students. They can get plenty of ppl who need financial aid, but loads of parents who can pay the full freight don’t want their kid to go there.
Make this happen at every Snowflake University, which hates Trump, his voters, Christians and anyone who is white.
Then makes that hatred the main ideology at that university!
For a small school they have a huge endowment (web claims around 770 million). If memory serves, it stemmed from patents in aluminum refining that they licensed.
Of course, a lot of endowment is restricted in use. Rich folks call this a “cash flow problem” that is a bit different from being flat broke.
All that aside, Oberlin used to (and may still) have a good rep in the sciences, of all things, with lots of NSF graduate fellows hailing from there and, of course, their conservatory. Their rep is developing into something quite different.
Parents do now want to send their children to a Communist University right here in the USA
I wonder if having a Dean who uses Congressional Accounting to conflate "zero increase" with "zero salary" is contributing to the problem?
Thank God. Higher Ed needs some shaking up. Follow the money.
Only proves that not everyone who attends a private liberal arts college is brainwashed into rabid leftists...
This is an interesting article, and points up that a college or university is a business entity, which needs to have a balanced budget, has to set priorities to make ends meet, etc.
This may be an area where the “ivory tower” college administrators, get a taste of the “real world”. Their organizations do not have unlimited resources, and have to balance their budgets just as every family needs to do.
Maybe families are taking a second look at colleges and what they’re really about now. A masters degree in Twelfth century Tibetan poetry along with a double in classical studies won’t get you very far along with 100k of student loans to pay off.
I guess the school is running out of white families willing to shell out $50+ K a year for a glorified re-education camp.
Let’s hope a few of these rabidly Leftist schools go under. That is probably the only thing that will send a meaningful message.
Obieland is/was one of the most liberal schools in Ohio, maybe even our nation. I saw a great Scottish festivals there one time. Amazing.
The email also requested that administrators and staff begin looking for ways to cut spending and increase revenue
I guess some of their constituents figured out that the investment really does not pay.
Oh my gosh. These little whinies should enroll in a college in China or wherever so they can get “authentic” food. Hey, kiddo, there’s your future. Park a food truck outside the cafeteria with “authentic” dishes and make your fortune. Oh, wait, never mind, that’s too much work.
50K is sticker price. If the college won’t offer a deal for less, they don’t really want your kid, they want your money. Go somewhere else.
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