Finance: Page 7
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Ben Unglesbee/Higher Ed Dive
University of the Arts files for bankruptcy
The Philadelphia institution’s Chapter 7 comes after it abruptly closed this summer and its merger talks with Temple University fell through.
By Ben Unglesbee • Sept. 16, 2024 -
The image by afunkydamsel is licensed under CC BY-ND 2.0
Columbia College Chicago looks to cut 10 programs, consolidate others
The private institution is trying to pare 58 undergraduate majors down to 40 and stem its bleeding budget.
By Ben Unglesbee • Sept. 13, 2024 -
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2U emerges from Chapter 11 bankruptcy
The online program manager has reorganized as a private company after shedding over $500 million of debt in bankruptcy.
By Ben Unglesbee • Updated Sept. 16, 2024 -
Wittenberg University to cut 5 majors, 40 employees
The Ohio-based nonprofit is eliminating staff and faculty roles as it tries to balance its budget by fiscal 2027.
By Ben Unglesbee • Sept. 10, 2024 -
Courtesy of The University of Dayton
University of Dayton to shed faculty, weigh program cuts
The private institution has avoided deficits and steep enrollment declines, but wants to maintain ‘relative institutional strength.’
By Ben Unglesbee • Sept. 9, 2024 -
Cal State San Bernardino braces for budget cuts amid $1B system deficit
With cuts and delays in state higher ed funding, the campus is grappling with a “devastating” budget crisis, its president said.
By Ben Unglesbee • Sept. 6, 2024 -
dosecreative via Getty Images
University of Iowa employee bilked nearly $1M from campus machine shop, audit finds
A manager of the shop used staff and equipment to do work on behalf of a business he owned, according to a state auditor report.
By Ben Unglesbee • Sept. 5, 2024 -
Rider University cuts student newspaper budget amid wider reductions
The New Jersey-based private nonprofit has been struggling with declining enrollment and is trying to shrink operating deficits.
By Ben Unglesbee • Sept. 5, 2024 -
Retrieved from Oakland University on September 04, 2024
Oakland University averts faculty strike with tentative deal
With negotiations in mediation and a potential work stoppage looming, the Michigan institution agreed to raises for faculty over the next five years.
By Ben Unglesbee • Sept. 4, 2024 -
Two Michigan universities face potential faculty strikes
Unions at Oakland University and Western Michigan University are pushing their institutions for better compensation amid an uptick in labor stoppages across industries.
By Ben Unglesbee • Updated Sept. 4, 2024 -
The image by Brian Stansberry, CC BY 3.0 <https://creativecommons.org/licenses/by/3.0>, via Wikimedia Commons is licensed under CC BY 3.0
Knoxville College takes a step toward accreditation nearly 30 years in the making
The historically Black institution, which lost accreditation in 1997, filed an application with Transnational Association of Christian Colleges and Schools.
By Ben Unglesbee • Aug. 30, 2024 -
Ben Unglesbee/Higher Ed Dive
University of the Arts faces full repayment demand from bondholders
A bank notified the university just two weeks after its closure that the full amount was due. Meanwhile, employees are seeking lost wages.
By Ben Unglesbee • Aug. 29, 2024 -
Ben Unglesbee/Higher Ed Dive
Temple nixes potential deal with University of the Arts
Although officials said they aren’t moving forward with a transaction, they noted Temple has enrolled over 330 former and prospective UArts students.
By Ben Unglesbee • Aug. 29, 2024 -
New York’s Mount Saint Mary College downgraded by Fitch
Analysts pointed to a recent cyberattack and a competitive market that is likely to weigh on the private nonprofit's finances.
By Ben Unglesbee • Aug. 29, 2024 -
A failed IT project cost UMGC $25.7M. Was poor oversight to blame?
Noncompetitive contracts and a lack of monitoring have marked dealings between the university and a spin-off entity, a state report found.
By Ben Unglesbee • Aug. 27, 2024 -
Retrieved from Tyler Ruffin / Wikimedia Commons.
A ‘hidden liability’: Colleges face up to $950B in capital needs, Moody’s says
Growing maintenance backlogs could spark more investment in facilities, but it will come at a heavy cost in a time of inflation, tight resources and uncertainty.
By Ben Unglesbee • Aug. 27, 2024 -
UC Santa Cruz turns to layoffs to grapple with $107M deficit
The shortfall in funds came in worse than projected for fiscal 2024 and is forcing the university to eat into its reserves.
By Ben Unglesbee • Aug. 23, 2024 -
Universities of Wisconsin president calls for $855M in new state funding
The public network’s leader unveiled a proposal to use a boost in funding to freeze tuition and increase employee salaries.
By Ben Unglesbee • Aug. 20, 2024 -
Courtesy of Keystone College
Keystone College agrees to merge with D.C.-based nonprofit
The agreement with the Washington Institute for Education and Research comes several months after a similar deal with the organization fell through.
By Ben Unglesbee • Aug. 19, 2024 -
Saint Augustine’s delays fall semester after damage from Tropical Storm Debby
The North Carolina college, already plagued by financial and accreditation struggles, said it needs time to restore power and electricity to some buildings.
By Ben Unglesbee • Aug. 16, 2024 -
Drew Angerer via Getty Images
State officials call for probe into Ben Sasse’s spending at the University of Florida
Spending at the president's office tripled year over year during Sasse's tenure, a student newspaper investigation found.
By Laura Spitalniak • Aug. 16, 2024 -
Over 30 tenured faculty face layoffs under University of Wisconsin-Milwaukee plan
The institution’s chancellor recommended closing a general studies college that supports two-year degrees.
By Ben Unglesbee • Aug. 15, 2024 -
Lackawanna and Peirce colleges to merge
Leaders of the two Pennsylvania-based nonprofit institutions say their programs, missions and markets are complementary.
By Ben Unglesbee • Aug. 14, 2024 -
The image by Kharris0317 is licensed under CC BY-SA 4.0
Catawba College gets second $200M donation in 3 years
The small North Carolina college has grown its endowment roughly seven times over since 2021.
By Laura Spitalniak • Aug. 13, 2024 -
"Western Illinois University" by Adam Moss is licensed under CC BY 2.0
Western Illinois University to cut nearly 90 faculty and staff roles
The public institution has been wrestling with rising costs, falling enrollment and a mounting deficit.
By Ben Unglesbee • Aug. 12, 2024
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