Birmingham Southern To Close in May

Many more colleges need to go under unless they can reign in costs.

Was a solid school, know several grads

But yeah victim of there being too many colleges pumping out worthless degrees

Also being in a shitty part of town didnt help. Samford pulls in a similar student type and is in a better part of Birmingham.

I guess the frat boy parent money dried up.

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Many more colleges need to go under unless they can reign in costs.

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Higher education needs to be rebuilt from the ground up.

It shouldn’t be $43k out of state to send your kid to Alabama in an era where you can attend virtual lectures from Oxford or Harvard for free.

Too many students attending college paying too much to do it without enough jobs to justify the expense.

It’s a broken model propped up by student loans.

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This trend will accelerate. Millsaps, Rhodes, Suwannee, and countless others will begin the steady grind into oblivion.

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I can see Millsaps on the chopping block in the not so distant future. I think places like Rhodes and Sewanee may have each carved out enough a niche for themselves to hang on for a while.

Cabrini university in Philly is closing. It is a small Catholic school. It is right down the road from Villanova, so they are just giving them the campus. At least it will be used well and kept up.

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can see Millsaps on the chopping block

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Millsaps needs 1200 students paying 50% tariff to survive. Right now they have something like 700 paying 35%.

Someone told me the fall of 2020 they had like 210 freshmen enrolled but only like 150 came back after Christmas.

They will be bought by UMMC and turned into a nursing/PT/OT school. Which would be a win win for everyone.

I feel like centenary in Shreveport will do this

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It’s a broken model propped up by student loans.

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The government created the broken model by propping up the student loans. It allowed colleges to compete in an artificial marketplace. With their being no qualifications for wanting a student loan other than proving acceptance and use for college, the college had carte blanche to charge whatever the hell they wanted with the comfort of knowing they would be paid in full by a lender. Susan the English major will never be able to pay back her $100,000 loan. Who cares? The college got their money up front because the government guaranteed it. So why not let more and more students in when it means more and more guaranteed revenue. Alabama didn't have to keep cost reasonable relative to the marketplace because the potential customers (students) didn't really care what the costs were. It wasn't coming "out of their pocket". They could just get a loan...that they now want forgiven because their degree didn't guarantee them a 6-figure job right out of college like they were told it would.

If you get the government out of the student loan business the costs will fall because the vast majority of students and their families won't be able to afford the current level of tuition. Student loans will still be available. But they will only be given to "well qualified buyers" who are at a lesser risk of default. The bank is less likely to give a $150k loan to a 2.0 student who intends to major in sociology.

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Samford offers a lot of practical degree programs that gets kids jobs: Accounting, Nursing, Business, etc.

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Plus the pharmacy and law school and MBA programs.