Yep. The ones that did not pivot to additional revenue with online degree offerings are toast. Sat on a committee that opined that a third of NCAA Division III schools (where a lot of these schools are athletically) would be closed by 2030.

I'm very close to the BSC situation, having grown up in Alabama with family that are alumni and who sold land to the college in the 90s.

Here's the truth of their financial trouble:

Early 2000s - started pushing LGBT issues and alienating alumni base.

Mid 2000s - went Division I in sports. Was a total disaster. After their four year requirement was done, they went back. Students protested. In order to save face, they said they would go Division III and add football, which negated the savings from going DI-D3.

2010s - Had the most woke president of the Associated Colleges of the South. Finally fired her, but replaced with a military guy who had no idea how to run a college. By then we have over a decade of terrible decisions. Was known as the gay college in Alabama, which drove off potential conservative students.

Other small colleges started adding revenue by adding graduate degrees and online options. BSC remained "committed to the traditional student experience."

Late 2010s - New president decided "If we build it, students will come." and racked up major debt building new buildings and renovations others.

2020 - COVID hit and BSC made more bad decisions, alienating students.

2022 - Reality hits, BSC does not have the money to operate past May, 2023. Asks Alabama taxpayers for a bailout. Does not appear it will happen.

May, 2023 - BSC will likely close operations.

2023-2024 - Will the Alabama legislature allow Auburn to takeover the campus? Two small colleges in Tennessee have closed in recent years (Lambuth and Martin Methodist). The University of Memphis took over one and University of Tennessee took over the other. UAB wouldn't like Auburn coming in, but the physical plant of BSC is in good condition.

This post was edited on 3/6/23 at 2:46 pm