Nov 17 2008
colleges close in ailing economy
For 15 years, Cascade College in Portland, Ore., struggled to find the financial necessities for any college: students to pay tuition and donors to help build an endowment. Then came the global economic crisis, and suddenly that struggle became an impossibility.
Late last month, the small Christian college with just 280 students and $4 million in debt announced that it would shut down at the end of the current academic year.
“Our hearts would have said we would like to continue trying,” said Cascade president Bill Goad, somberly adding he never imagined his duties would include closing the school. But on top of their long-term challenges, “small colleges like Cascade just don’t have the slack to survive those kinds of impacts,” he said.
Every year, a handful of institutions go under. And while a wave of college closings is unlikely, the economic turmoil could accelerate the pace.
In addition to Cascade, another Christian institution, Taylor University, announced last month that it would close the undergraduate program at a branch campus in Fort Wayne, Ind., while Pillsbury Baptist Bible College in Owatonna, Minn., said it would close.
Read more here.
[From me]
I really wonder if this is happening “because” of the ailing economy or is it just the final straw? Colleges are getting more and more expensive. The economy can’t be blamed for that. I went to Samford University in Birmingham, AL in the 1980’s and paid for it for 10 years afterwards. I enjoyed my time there and met many friends. But in retrospect, should I have attended the University of Alabama where my mom worked for free? Is being in a Fraternity and at a small campus for 4 years better than just getting a degree? Samford has a great reputation but I don’t think it ever got me an interview or a job. Actually, my UAB degree got me more interviews than my Samford degree did.
If I had to do it over, I would go to a Jr. College for free then transfer to a 4 year college. There are very few jobs that will pay enough to get you out of college debt.
What do you think?
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College costs are nuts. They go up faster than any other category of expenses. Giveaways that Obama plans will just result in dollar-for-dollar increases in tuition.
You are almost better off teaching your kids a trade and just buying them a new house with what you would have spent on college.
I think your college choice has to depend on a multitude of things. I chose Samford over larger GA state schools because I wanted the small atmosphere, personal attention and Christian atmosphere. I don’t regret my decision at all. Even though I’m still paying back my loans, I look at those four years as a period of some of my best growth both personally and spiritually. I’m not sure a state school (small or not) would have me where I am today.
I’ve also been at UAB as a doctoral student and in the teaching arena at the master’s level and I can tell you on the whole that students who graduate from smaller, private schools are MUCH more prepared for the rigors of graduate work.
I think one of the problems with smaller schools like those mentioned in the article is that they are so narrowly focused that they cannot support themselves with the number of students they attract.
Operating costs for universities is astronomical. While tuition at Samford has multiplied since the 80s, in the current 2008-09 academic year tuition only covers 60% of the cost of the education. The remaining 40% must come from alumni, donors and other sources. Plant facilities (buildings, parking lots, etc) are not included in those figures; that’s just the cost of the student’s education. To make the balance sheet work a college/university must find the right combination of enrollment #s and donors.
Jim,
Don’t get me wrong. I loved my time at Samford. But I don’t know if I could send my kids there and justify paying that much. It was and probably is more of a school for wealthier families. I was one of the poorer students while I was there.
I chose a Christian College because of that one thing: It was CHRISTIAN…even though I’ve known the Lord since I was a small child, it was my dream to be in a Christian environment for college. And that dream came true.
What I didn’t realize is that even in a Christian college, one still has the same struggles, and temptations, and snares, and heartaches, and headaches, that one will experience any other place.
Yes, it cost more (I could have gone to Auburn on a full scholarship), but I made the right decision. I’ve never regretted it.
Phil Hoover’s last blog post..The Colonoscopy: A First-hand account…
Kevin…as you know, I went to Samford as well and wouldn’t trade that experience for anything. I was SUPER poor and so were my parents…so, my tuition was greatly reduced…I did notice in your original post and then your comment above that you talked about paying for 10 years your Samford bill, but in your comment you said you wouldn’t or couldn’t send your children to Samford and pay for them…If I am reading what you said correctly, your mother didn’t pay…so, do you have to be the one to pay for their tuition or is there a value in them learning how to do that?
Also, the college in the story had been struggling for 15 years…looks like the media wants to blame the economy, I think it was the final straw!
M. Steve Heartsill’s last blog post..Operation Smile
Steve,
As I said before I enjoyed my time at Samford. My parents did help but on a Youth For Christ salary they couldn’t pay much. Today there is no way I could afford to go to Samford. I could have gotten a huge discount at the UofA (almost free). Did my degree prepare me for life? That remains to be seen. I’m not saying this is for everyone but I wonder what would have happened if I had a DeVry Institute degree?
I don’t think there is value in being in debt.
I would agree with Steve of it being the final straw. while i was attending theSticks conference last week they announced that Ashland College in Ashland, OH had a shortfall of something like 4 million and was letting go 30 profs. (I am pretty sure those are accurate). College costs are getting out of sight. I think we will hear more of this type of stuff as belt-tightening takes place.
Bill(cycleguy)’s last blog post..True Gratitude
Send them all to Lee University…www.leeuniversity.edu.
They will get a wonderfully CHRIST-CENTERED education, and be ready to face whatever God has in store for them during, and after their college years.
Phil Hoover’s last blog post..Thank you, Attorney General Cuomo!
I went to a two year women’s college and then to obtain my bachelors degree at a baptist women’s college. My debt was finally paid off this past summer. I know I still have to deal with seminary expense eventually. My first two years of college were worth every cent of going away to learn academically, socially, spiritually, and mentally. Now, I did learn from my transfer school, but I don’t really see how it will be helping me. While I was not in an actual sorority, my first two years were much like it. I have had connections beyond college from other alumnae because of being apart of it.
The point about going to a Christian college to be around Christians is funny and false. Secular schools have the groups that people can be involved in to have those Christian connections. Students can find the other activites to be involved in when they are on a Christian campus. Yes in classes it may be a little more of a challenge, but some Christian campuses have that as well.
I don’t think everyone has to go to college. Doing the Remington/DeVry thing is a good option for many. I do think it is helpful if students will go away from the home bubble during this time to figure out how to live their life. College at least allows a somewhat safer environment for gaining that independence.