Mary has these questions from students and their families for this week's episode of 'Beyond the (College) Brochure'.
- What would you say to the students and families who are concerned about the ability to transfer credits if their college is facing financial issues?
- Does the quality of education decline if experienced faculty and staff are laid off due to financial trouble?
- Are there more likely to be limited resources at a school in financial distress vs. one that is not?
- Do budget cuts have an effect on the campus safety measures at a school?
- Do financial aid opportunities, such as scholarships and grants, decrease when a school is in financial trouble?
- What is the broader impact on the community if a local college were to close its doors?
- How do colleges balance tuition increases with the need to remain affordable for students and families?
- What steps does the college take to ensure that students can complete their degrees in the event of program changes or closures?
Summary
In this episode, Mary McGrath and Dr. Gary Stocker discuss the financial health of colleges and the potential impact on students and families. They address concerns about transferring credits, the quality of education, limited resources, campus safety, financial aid opportunities, the impact on local communities, tuition increases, and college closures. They also discuss the steps colleges take to ensure students can complete their degrees in the event of closure.
Takeaways
- Get ahead of potential financial issues at your college by exploring transfer options and comparing how many transfer credits each college will accept.
- Colleges facing financial trouble may have limited resources, which can impact the quality of education and campus safety measures.
- Financial aid opportunities such as scholarships and grants may decrease at colleges in financial distress.
- The closure of a local college can have a significant impact on the community's economy and cultural assets.
- Colleges often raise tuition but also increase tuition discounts to attract students, which can strain their financial health.
- Colleges that are at risk of closing may offer teach-out opportunities for students to complete their degrees, but there is a risk of transferring to another financially troubled college.
Sound Bites
- "Get ahead of it...get out, get ahead."
- "Colleges need students, a lot more than students need any individual college."
- "Get that college education in four years. Get on with it, make some money, and don't let anything get in your way."
Episode 13