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Started By
Message
Birmingham Southern To Close in May
Posted on 3/26/24 at 2:54 pm
Posted on 3/26/24 at 2:54 pm
LINK
30 years ago, private liberal arts colleges were the rage. And they offered advantages over public state schools. Smaller classes, better professors, more selective students, etc.
But those advantages have vanished. Now the public universities offer a better value in almost every category.
This trend will accelerate. Millsaps, Rhodes, Suwannee, and countless others will begin the steady grind into oblivion.
I had dinner with someone in higher education a few years ago who said that over half of the private liberal arts colleges will close over the next 30 years.
And the cutoff point for survival will be an endowment of something like $1 billion by 2030. Any school that doesn't have that will not be able to continue.
quote:
After a long fight for a loan from the Alabama legislature, Birmingham-Southern College announced Tuesday that it will close its doors on May 31.
“The Board of Trustees voted unanimously today to close the College after a 2024 bill designed to amend the 2023 legislation that established the loan program on which our future depended failed to win sufficient support in the Alabama House of Representatives. Without that funding, the College does not have the resources to continue,” a letter from the Rev. Keith D. Thompson, the chair of BSC Board of Trustees, states.
30 years ago, private liberal arts colleges were the rage. And they offered advantages over public state schools. Smaller classes, better professors, more selective students, etc.
But those advantages have vanished. Now the public universities offer a better value in almost every category.
This trend will accelerate. Millsaps, Rhodes, Suwannee, and countless others will begin the steady grind into oblivion.
I had dinner with someone in higher education a few years ago who said that over half of the private liberal arts colleges will close over the next 30 years.
And the cutoff point for survival will be an endowment of something like $1 billion by 2030. Any school that doesn't have that will not be able to continue.
This post was edited on 3/26/24 at 3:00 pm
Posted on 3/26/24 at 2:55 pm to No Colors
Many more colleges need to go under unless they can reign in costs.
Posted on 3/26/24 at 2:59 pm to No Colors
St Louis just had a small Catholic school, Fontbonne, announce they're shutting down.
Something like 5 of the 7 schools that said they'll take the students with little or no interruption of degree process are also a threat to close soon.
Something like 5 of the 7 schools that said they'll take the students with little or no interruption of degree process are also a threat to close soon.
Posted on 3/26/24 at 2:59 pm to No Colors
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.
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.
This post was edited on 3/26/24 at 3:12 pm
Posted on 3/26/24 at 3:01 pm to tiggerthetooth
quote:
Many more colleges need to go under unless they can reign in costs.
Could easily reign in costs by axing DEI and worthless degree programs
Posted on 3/26/24 at 3:01 pm to No Colors
I guess the frat boy parent money dried up.
Posted on 3/26/24 at 3:02 pm to No Colors
"Yeah, we fancy like Applebee's on a date night
Got that Bourbon Street steak with the Oreo shake
Get some whipped cream on the top too
Two straws, one check, girl, I got you
Bougie like Natty in the styrofoam
Squeak-squeakin' in the truck bed all the way home
Some Alabama-jamma, she my Dixieland delight (ayy)
That's how we do, how we do, fancy like, oh"
A musical masterpiece written by an Alumnus.
Got that Bourbon Street steak with the Oreo shake
Get some whipped cream on the top too
Two straws, one check, girl, I got you
Bougie like Natty in the styrofoam
Squeak-squeakin' in the truck bed all the way home
Some Alabama-jamma, she my Dixieland delight (ayy)
That's how we do, how we do, fancy like, oh"
A musical masterpiece written by an Alumnus.
This post was edited on 3/27/24 at 10:10 pm
Posted on 3/26/24 at 3:02 pm to tiggerthetooth
quote:
Many more colleges need to go under unless they can reign in costs.
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.
This post was edited on 3/26/24 at 3:04 pm
Posted on 3/26/24 at 3:04 pm to No Colors
It was a good school that did a good job educating its students. But this is mostly BSC’s fault, as anyone who has paid attention knows. And they did face some pretty stiff headwinds.
Posted on 3/26/24 at 3:04 pm to No Colors
quote:
This trend will accelerate. Millsaps, Rhodes, Suwannee, and countless others will begin the steady grind into oblivion.
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.
Posted on 3/26/24 at 3:06 pm to Y.A. Tittle
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.
Posted on 3/26/24 at 3:07 pm to No Colors
Alot of good drugs are going to be looking for a new home
Posted on 3/26/24 at 3:08 pm to Y.A. Tittle
quote:
can see Millsaps on the chopping block
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.
Posted on 3/26/24 at 3:10 pm to Y.A. Tittle
quote:
Sewanee
Provides a sorta unique rural college experience
Will probably be OK
Posted on 3/26/24 at 3:13 pm to No Colors
I feel like centenary in Shreveport will do this
Posted on 3/26/24 at 3:22 pm to Cosmo
quote:
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.
Samford seems to be doing great. It isn’t just the great real estate though. Samford offers a lot of practical degree programs that gets kids jobs: Accounting, Nursing, Business, etc. And no woke BS whatsoever. Ultimately you have to be providing something that people believe is worth paying for.
Posted on 3/26/24 at 3:23 pm to tide06
quote:
It’s a broken model propped up by student loans.
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.
Posted on 3/26/24 at 3:37 pm to No Colors
quote:
over half of the private liberal arts colleges will close over the next 30 years.
Good. They can learn to weld.
Posted on 3/26/24 at 3:38 pm to SloaneRanger
quote:Plus the pharmacy and law school and MBA programs.
Samford offers a lot of practical degree programs that gets kids jobs: Accounting, Nursing, Business, etc.
Posted on 3/26/24 at 3:39 pm to Bullfrog
I don’t forsee too many Birmingham Southern type kids going to Samford.
This post was edited on 3/26/24 at 3:40 pm
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