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<p>I have heard from friends who teach at colleges that colleges are cutting back, by using adjuncts with no tenure or benefits.</p>
<p>Personally, I would rather see less of the ramp-up of luxurious facility improvements and more respect for the faculty.</p>
<p>I truly do not know a thing about university budgets, so I have no idea how much impact a cut in salary would represent. It just seems that there have been so many new positions created that simply slowing the rate of increase of salaries will not be sufficient. Schools now provide services that did not exist a generation ago. Everyone expects these services, and I assume would complain if a school stopped housing the faculty advisor in the dorm, or cut back on career services, or cut back on clubs and social events on campus that are supposed to replace the endless drinking we all seemed to do in college. (Guess I should speak for myself here!)</p>
<p>The expansion of the physical facilities and the services offered by schools, and the staff required to continuing supporting these facilities and services, have been unchecked by normal market means as the financing has relied on student loans & merit aid discounts off tuition. I hope I am wrong, and market forces can come to bear, but it will require a great deal more than simply cutting faculty salaries.</p>
<p>Recently read that an adjunct professor, not on tenure-track and retained on class-by-class basis, earns on average $3000/class per term. Sounds like near minimum wage compensation, without benefits. Certainly have noted that many colleges and universities unduly rely on these temp profs to fill their teaching slots.</p>
<p>It’s the college administration component that has increased in body count and cost over several decades, along with inflated salaries for those senior-level folks (compared to faculty salaries) that has accelerated college costs, along with the fevered pitch of campus construction of buildings intended to increase the marketability and attractiveness of campus. I think we’ve all toured campuses that have certain facilities rivalling corporate headquarters and/or resorts; replacing plain-vanilla concrete-block buildings and adding amenties not previously conceived (rock climbing wall, anyone?). It’s no wonder that many universities and colleges have strained their budgets with long-term debt and too high overhead, and now face rating bond agency rating declines and difficult financial decisions. I suspect “debt service” is a HUGE budget line-item at many educational institutions.</p>
<p>We did look at Moody’s ratings for the Midwest LACs on our student’s shortlist, and were surprised by the number of recognizable-name CTCL-type schools in serious financial trouble. It did affect our recommendation to our student.</p>
<p>Decades ago, I attended a local university that was in precarious financial condition, that operated week-by-week on revenue received (tuition), and nearly ran out of operating cash one year. Its near catastrophic financial state was definitely felt. For instance, roof of the building that housed several departments, including my own, collapsed into many classrooms, sending ceiling tiles and water upon desks and students. Classes continued to be held, with large garbage cans strategically placed to catch water flow. Faculty appointments reflected that financial situation too.</p>
<p>“We did look at Moody’s ratings for the Midwest LACs on our student’s shortlist, and were surprised by the number of recognizable-name CTCL-type schools in serious financial trouble. It did affect our recommendation to our student.”</p>
<p>@Higgins, we did the same thing for the shortlist. I just want to know that after the dog and pony show is over, there’ll be somewhere to send my check next year too!</p>
<p>This gives some colleges that have closed, merged or changed names: [List</a> of Colleges and Universities that have Closed, Merged, or Changed their Names](<a href=“http://www2.westminster-mo.edu/wc_users/homepages/staff/brownr/closedcollegeindex.htm]List”>http://www2.westminster-mo.edu/wc_users/homepages/staff/brownr/closedcollegeindex.htm)</p>
<p>Don’t know where there is a list of schools with ratings that are at a level that is considered endangered.</p>
<p>thanks Cpt! that maybe could be it’s own thread?</p>
<p>One religious college in the midwest was closing because of financial problems. A for-profit bought their name and used their academic accredition to run an online diploma mill. Apparently, there was no process for a re-accredition when there was a major change in an institution’s mission and management.</p>
<p>Actually if anyone has anylist of colleges that may go under, that would fit this thread to a T. But it’s contributing to make the prophecy happen to list such schools.</p>
<p>Yes, most people are hesitant to name names, because it could cause a “run on the bank”. If you look at the list of colleges that consistently every year announce they they have seats available for new students in August to start in August, that may provide some indication. Also, the more unsolicited mail you receive from a college, the more desperate they appear. A few months after she picked her college, my daughter received 10 color brochures in 2 months from a college that was far away.</p>
<p>If you see that a college is hiring tenure-track professors, that is a sign that the college intends to be around for the long-term. That faculty hiring can also help see which departments are felt worthy for spending by that college, as opposed to what departments may be shrinking by attrition.</p>
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<p>Charlieschm—I know what you meant with the above comment, but I couldn’t help but think of Chicago and the number of pieces of mail they have sent my son. My son would never be accepted at Chicago, but boy, are they persistent. Full-color brochures, wall posters, letters, postcards, etc. I wonder if they would send a tee shirt if he responded? Off-topic…</p>