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345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
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DavidSt Offline
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Post: #41
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
How Much Colleges Rely On Their Auxiliary

These are private schools that take out more than 30% of their auxiliary sources. These are the ones that are a threat to close soon thanks to the help from covid-19. There is a spreadsheet for the figures.

MacMurray was at 22.0% and Urbana was at 22.7%

Football schools:
Birmingham Southern
Chowan
North Greenville
Endicott
Adrian
Dean
Newberry
Ferrum
Bridgewater
Brevard
Nichols
Alderson Broaddus
Bluffton
Thiel
Mars Hill
Georgetown, KY
Benedictine, KS
Bethune-Cookman


D1 schools in trouble.
Bethune-Cookman
Siena
High Point
Mount St. Mary's
Bryant
St. Bonaventure

This might be the reason Bethune-Cookman went to the SWAC.
07-02-2020 09:28 AM
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HellBlazer Offline
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Post: #42
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
(05-06-2020 03:44 PM)Frank the Tank Wrote:  
(05-06-2020 02:00 PM)The Cutter of Bish Wrote:  More than 5% of schools have less than 90 days worth of money to operate? Yeah, I’m thinking some serious conversations need to happen across higher education.

Unfortunately, this pandemic has exposed that there are lots of businesses across lots of industries that are in similar (and many times worse) situations.

Yes my plant is in the process of shutting down now...in Business since 1962.03-weeping
07-07-2020 11:06 AM
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DavidSt Offline
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Post: #43
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
Lets add University of Bridgeport to the list of no more.
07-09-2020 05:51 AM
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DavidSt Offline
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Post: #44
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
12-30-2020 08:10 PM
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Statefan Offline
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Post: #45
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
The purpose of many colleges and universities has little to do with education and everything to do with economic development. Typically the college supports a small town's economy with jobs that are not usually exposed to market and cyclical forces. The education mission has become secondary to the mission of being a value added entity within a community.
12-30-2020 08:36 PM
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RobtheAggie Offline
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Post: #46
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
(12-30-2020 08:10 PM)DavidSt Wrote:  Florida Lawmakers Looking To Merge New College and Florida Polytech With Other Schools

If passed? New College would be New College merged into Florida State University.

"If signed into law, the mergers would take effect by July 1st, 2020." From the original article, which was from Feb 2020.

"A merger bill died in March — shortly after the first COVID-19 cases appeared in Florida."- From an article 10 Sep.
(This post was last modified: 12-30-2020 08:41 PM by RobtheAggie.)
12-30-2020 08:40 PM
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DavidSt Offline
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Post: #47
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
(This post was last modified: 12-30-2020 10:55 PM by DavidSt.)
12-30-2020 10:55 PM
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DavidSt Offline
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Post: #48
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
I found some interesting history of Ohio Midwestern College on the internet. The school was founded in the 1970s as Temple Baptist College. In this link from Liberty University gave the history of Temple Baptist.

History of Ohio Mid-Western College Formally Temple Baptist College Ohio

It showed that Jerry Falwell had interests in getting this school as big as Liberty. Back in 1996, they added both men and women's basketball and joined the D2 of the NCCAA. The school almost closed down in the 80s, but they made changes. Then they got full TRACS in 2005. Then in 2009, this 4 year school joined the USCAA for all sports. Sometime between 2005 and 2009, they changed their name from Temple Baptist College to Ohio Midwestern College. To not to be confused with the Temple Baptist College in Chattanooga which was ran by Tennessee Temple.

2012 seemed they added football and played in the USCAA in 2014 against Alfred State, Apprentice, Robert Morris, Peoria, Williams Trade and Dean. The school lost their TRACS accredidations in 2015, and it seems they dropped all sports after that. The school struggled to stay open until I noticed in late 2019 that they are closed for good.

2014 Ohio Midwestern USCAA Football Season

Ohio Midwsetern College have same address as Temple Baptist College

The last link showed that they were formally Temple Baptist College. From what I can tell, the address is the same for Temple Baptist and Ohio Mid-western College.

There are missing years between 2005 and 2009 and between 2009 to 2014. Then after 2014 season of sports, they lost accredidations and booted from USCAA. Do not know when they dropped sports, but they began sports when they were Temple Baptist joining the NCCAA. Jerry Falwaell saw potential for this school to grow. It failed.
02-17-2021 10:40 AM
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MU88 Offline
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Post: #49
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
(07-02-2020 09:28 AM)DavidSt Wrote:  D1 schools in trouble.
Bethune-Cookman
Siena
High Point
Mount St. Mary's
Bryant
St. Bonaventure

This might be the reason Bethune-Cookman went to the SWAC.

Huh? For example, Mount St. Mary's had a record year in 2020. Applications for fall 2020 were up 30% and the freshmen class enrollment in 2020 was 50% higher than in 2016.

Enrollment is also surging at St. Bonnies. Up another 5% in fall 2020.

Some schools have had issues, no doubt, but you seem to pull the names out of your a%&. For example, I believe that Ava Maria has had some issues. On the other hand, another private, U of Tampa had record applications this year. My son's admittance was deferred to Spring 2022. My daughter is being recruited by Mount St. Mary's so I know a bit about that school. Maybe spend 5 minutes researching the issue before you post?
(This post was last modified: 02-17-2021 12:01 PM by MU88.)
02-17-2021 12:01 PM
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DavidSt Offline
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Post: #50
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
(02-17-2021 12:01 PM)MU88 Wrote:  
(07-02-2020 09:28 AM)DavidSt Wrote:  D1 schools in trouble.
Bethune-Cookman
Siena
High Point
Mount St. Mary's
Bryant
St. Bonaventure

This might be the reason Bethune-Cookman went to the SWAC.

Huh? For example, Mount St. Mary's had a record year in 2020. Applications for fall 2020 were up 30% and the freshmen class enrollment in 2020 was 50% higher than in 2016.

Enrollment is also surging at St. Bonnies. Up another 5% in fall 2020.

Some schools have had issues, no doubt, but you seem to pull the names out of your a%&. For example, I believe that Ava Maria has had some issues. On the other hand, another private, U of Tampa had record applications this year. My son's admittance was deferred to Spring 2022. My daughter is being recruited by Mount St. Mary's so I know a bit about that school. Maybe spend 5 minutes researching the issue before you post?

These figures and debt came out before the record enrollments.
02-17-2021 12:11 PM
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AZcats Offline
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Post: #51
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
(02-17-2021 12:11 PM)DavidSt Wrote:  
(02-17-2021 12:01 PM)MU88 Wrote:  
(07-02-2020 09:28 AM)DavidSt Wrote:  D1 schools in trouble.
Bethune-Cookman
Siena
High Point
Mount St. Mary's
Bryant
St. Bonaventure

This might be the reason Bethune-Cookman went to the SWAC.

Huh? For example, Mount St. Mary's had a record year in 2020. Applications for fall 2020 were up 30% and the freshmen class enrollment in 2020 was 50% higher than in 2016.

Enrollment is also surging at St. Bonnies. Up another 5% in fall 2020.

Some schools have had issues, no doubt, but you seem to pull the names out of your a%&. For example, I believe that Ava Maria has had some issues. On the other hand, another private, U of Tampa had record applications this year. My son's admittance was deferred to Spring 2022. My daughter is being recruited by Mount St. Mary's so I know a bit about that school. Maybe spend 5 minutes researching the issue before you post?

These figures and debt came out before the record enrollments.

So doesn't that make the doom and gloom you've been spouting for nearly a year based on what is now becoming outdated information?
02-17-2021 04:22 PM
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quo vadis Offline
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Post: #52
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
(12-30-2020 08:10 PM)DavidSt Wrote:  Willamette University Plans To Aquire Another College


Florida Lawmakers Looking To Merge New College and Florida Polytech With Other Schools

If passed? New College would be New College merged into Florida State University.

"In the proposal in the Florida House, New College of Florida would become an extension of Florida State University and Florida Polytechnic University would become a part of the University of Florida instead of being independently-accredited schools."

When I was at USF in the 1980s and in to the 1990s, New College was a part of USF, our Honors College, and "Florida Polytechnic University" was USF's Lakeland campus.

Somehow, we got stripped of both and now they are going to UF and FSU?

That's USF's lack of political muscle for you.
(This post was last modified: 02-17-2021 07:36 PM by quo vadis.)
02-17-2021 07:32 PM
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Post: #53
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
(05-06-2020 08:14 PM)Love and Honor Wrote:  
(05-06-2020 01:24 PM)Captain Bearcat Wrote:  There's 4 big new pressures on universities right now due to coronavirus:

1) real estate revenue - most universities have major investments in dormitories. If classes are all online for the fall, they can't charge rent.

2) hospital revenue - some universities are attached to major hospitals. Hospitals are hemorrhaging cash right now.

3) state government revenue - most states will be forced to decrease support for higher education because coronavirus has reduced tax revenues

4) price pressure at universities with higher sticker prices - students won't pay $50k/year for online classes when a state school will offer the same classes for $15k/year.

Some random points:

1. Since my freshman year at Miami we've built 7 brand new dorms, completely renovated 9 existing ones, and replaced 3 dining halls with new ones. Online classes mean we have a bunch of debt built up for assets that aren't making any money, I doubt we're alone.
2. My dad works for WashU Med in St. Louis, they're projecting a $150 million loss this year under current trends with most of that is driven by the school. It's a very large system compared to most med schools out there, but it is telling.
3. Yep, though I think relative public funding for universities has been stagnant or declining for awhile now. Miami got something like 25% of its revenues from Ohio in the seventies, it's now under 10. I'm sure that's especially the case for schools in states with big financial issues like Illinois. Not like private schools will be immune either, people struggling to make ends meet or drowning in debt don't donate to their alma mater.
4. Absolutely. Higher ed has been a borderline Ponzi scheme for a generation or so, it's overdue for a correction in terms of price against return. Unfortunately this is what's triggering it.

A former Miami president used to teach a class called 'History of Miami University', one semester was posted to Youtube and I've been listening to it lately as a podcast of sorts. He stated that there was something like 540 colleges at the start of the Civil War but a decade after it ended there were less than 90 left; I doubt we see 80% go belly up like that, but this will be a bloodbath relative to what we've gotten used to.

COVID is rougher from what I read on colleges that you have to go away to attend since the benefits of campus life aren't there.

P5 schools who are exalted on this board have the largest budgets and are taking the largest losses. Ohio State is projecting a $107 million dollar deficit for fiscal year 2021.

https://www.dispatch.com/story/sports/co...502044001/
02-17-2021 07:33 PM
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Post: #54
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
(02-17-2021 07:33 PM)Kit-Cat Wrote:  
(05-06-2020 08:14 PM)Love and Honor Wrote:  
(05-06-2020 01:24 PM)Captain Bearcat Wrote:  There's 4 big new pressures on universities right now due to coronavirus:

1) real estate revenue - most universities have major investments in dormitories. If classes are all online for the fall, they can't charge rent.

2) hospital revenue - some universities are attached to major hospitals. Hospitals are hemorrhaging cash right now.

3) state government revenue - most states will be forced to decrease support for higher education because coronavirus has reduced tax revenues

4) price pressure at universities with higher sticker prices - students won't pay $50k/year for online classes when a state school will offer the same classes for $15k/year.

Some random points:

1. Since my freshman year at Miami we've built 7 brand new dorms, completely renovated 9 existing ones, and replaced 3 dining halls with new ones. Online classes mean we have a bunch of debt built up for assets that aren't making any money, I doubt we're alone.
2. My dad works for WashU Med in St. Louis, they're projecting a $150 million loss this year under current trends with most of that is driven by the school. It's a very large system compared to most med schools out there, but it is telling.
3. Yep, though I think relative public funding for universities has been stagnant or declining for awhile now. Miami got something like 25% of its revenues from Ohio in the seventies, it's now under 10. I'm sure that's especially the case for schools in states with big financial issues like Illinois. Not like private schools will be immune either, people struggling to make ends meet or drowning in debt don't donate to their alma mater.
4. Absolutely. Higher ed has been a borderline Ponzi scheme for a generation or so, it's overdue for a correction in terms of price against return. Unfortunately this is what's triggering it.

A former Miami president used to teach a class called 'History of Miami University', one semester was posted to Youtube and I've been listening to it lately as a podcast of sorts. He stated that there was something like 540 colleges at the start of the Civil War but a decade after it ended there were less than 90 left; I doubt we see 80% go belly up like that, but this will be a bloodbath relative to what we've gotten used to.

COVID is rougher from what I read on colleges that you have to go away to attend since the benefits of campus life aren't there.

P5 schools who are exalted on this board have the largest budgets and are taking the largest losses. Ohio State is projecting a $107 million dollar deficit for fiscal year 2021.

https://www.dispatch.com/story/sports/co...502044001/

Community colleges are probably doing well right now.

But I don't think it's about being "P5;" it's about the campus life. I think small private schools rely more on their intimate campus environment to attract students than the big state schools do. If students can't have a thriving campus community where they know people all over campus, then they may as well go to Big State U where they're just another face in the crowd.
02-17-2021 07:45 PM
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Post: #55
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
(07-02-2020 09:28 AM)DavidSt Wrote:  D1 schools in trouble.
Bethune-Cookman
Siena
High Point
Mount St. Mary's
Bryant
St. Bonaventure

Siena’s got a $137 million endowment, a former Congressman for a President, and a downtown arena that they can play basketball in when fans are allowed again. This year stings, but they’ll be fine.
02-17-2021 08:12 PM
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DavidSt Offline
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RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
(02-17-2021 08:12 PM)CenterSquarEd Wrote:  
(07-02-2020 09:28 AM)DavidSt Wrote:  D1 schools in trouble.
Bethune-Cookman
Siena
High Point
Mount St. Mary's
Bryant
St. Bonaventure

Siena’s got a $137 million endowment, a former Congressman for a President, and a downtown arena that they can play basketball in when fans are allowed again. This year stings, but they’ll be fine.


I think the biggest issue is that a lot of these schools got into debt quickly by expanding the campus, buying new things and all that, but forget to try and go after non-traditional students from the community to attend. These private schools are trying to go after high school students, and there is a lack of students coming out of high school to attend. I think that is what is getting these small private schools in trouble because they are compoeting against the large state or private schools.
02-18-2021 05:53 AM
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quo vadis Offline
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Post: #57
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
(02-18-2021 05:53 AM)DavidSt Wrote:  
(02-17-2021 08:12 PM)CenterSquarEd Wrote:  
(07-02-2020 09:28 AM)DavidSt Wrote:  D1 schools in trouble.
Bethune-Cookman
Siena
High Point
Mount St. Mary's
Bryant
St. Bonaventure

Siena’s got a $137 million endowment, a former Congressman for a President, and a downtown arena that they can play basketball in when fans are allowed again. This year stings, but they’ll be fine.


I think the biggest issue is that a lot of these schools got into debt quickly by expanding the campus, buying new things and all that, but forget to try and go after non-traditional students from the community to attend. These private schools are trying to go after high school students, and there is a lack of students coming out of high school to attend. I think that is what is getting these small private schools in trouble because they are compoeting against the large state or private schools.

State schools face a lot of the same problems. Many are in states where politicians are unwilling to raise taxes or are eager to cut funding to state higher education, and many state schools have been mismanaged, investing big bucks in college athletics without commensurate fan support.

But no doubt, probably the most vulnerable colleges right now are the small, non-prestigious, non-religious private colleges.
(This post was last modified: 02-18-2021 10:15 AM by quo vadis.)
02-18-2021 10:14 AM
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Post: #58
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
(02-18-2021 10:14 AM)quo vadis Wrote:  But no doubt, probably the most vulnerable colleges right now are the small, non-prestigious, non-religious private colleges.

The religious ones hurt, too. Around the Philly area, you have no shortage of Catholic schools. We know about La Salle’s woes, but, it’s bigger than them. There’s a saturation problem. And it doesn’t help that other states’ schools are digging for Philly-PA kids. You have Maine, Monmouth, Keane, TCNJ, and some of those online schools like Wilmington, UMUC/UMGC, and PUG all buying signage along the corridor here. Some of the small schools might think that being close by gives them an edge over the interstate invaders...I’m not so sure about that.
02-18-2021 12:36 PM
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DavidSt Offline
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Post: #59
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
(02-18-2021 12:36 PM)The Cutter of Bish Wrote:  
(02-18-2021 10:14 AM)quo vadis Wrote:  But no doubt, probably the most vulnerable colleges right now are the small, non-prestigious, non-religious private colleges.

The religious ones hurt, too. Around the Philly area, you have no shortage of Catholic schools. We know about La Salle’s woes, but, it’s bigger than them. There’s a saturation problem. And it doesn’t help that other states’ schools are digging for Philly-PA kids. You have Maine, Monmouth, Keane, TCNJ, and some of those online schools like Wilmington, UMUC/UMGC, and PUG all buying signage along the corridor here. Some of the small schools might think that being close by gives them an edge over the interstate invaders...I’m not so sure about that.

Ohio Midwestern College formally called Temple Baptist College was created for that purpose in Cincinnati in 1972. Temple Baptist in Ohio, Tennessee Temple and Temple Baptist-Chattanooga were schools that Jerry Falwell of Liberty University invested in to recruit students from those communities where they can later go get a Bachelor Degree at Liberty. They were pipeline schools for students and athletes to transfer to Liberty from those schools. They were mostly NCCAA and USCAA schools that they played sports in. Ohio Midwestern closed down recently, and Tennessee Temple and Temple Baptist Chattanooga was incorporated by Piedmont International. The problem is that schools like these do compete against state schools in their own city.
02-18-2021 04:37 PM
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Post: #60
RE: 345 Small Private Colleges And Universities Could Close Down In The Next 6 Years
(02-17-2021 08:12 PM)CenterSquarEd Wrote:  Siena’s got a $137 million endowment, a former Congressman for a President, and a downtown arena that they can play basketball in when fans are allowed again. This year stings, but they’ll be fine.

St. Joe's has a $293 million endowment and they're publicly shopping for a merger.
02-24-2021 11:57 PM
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