I am very fortunate to have been accepted into Bard’s Class of 2021 with an amazingly generous merit scholarship. I was really excited about this, considering the beauty of the campus and academic rigor of the school, but then my dad sent me an article by Inside Higher Ed saying that it was facing liquidity? I brought it to my school’s personal finance teacher, who warned me not to attach myself to the school, since it’s heading towards (according the article) “junk territory”. Can anyone tell me about this? are they right? Should I not even consider it in my options? I’m just worried that it won’t be there in four years-- or my merit scholarship will disappear making it unaffordable. Who would I even contact to ensure/verify this?
In case anyone wants to read it. Basically @gardening365 , you don’t need to worry. It sounds scary to be downgraded, but it does not mean they have a liquidity crunch coming up. They have an open line of credit in the event cash is tight. The thing Moody’s doesn’t like is Bard’s operating model: spending all thier donations on- gasp- education! (Downgrading just means borrowing will cost more).
It just means they need to continually fundraise is all. This has worked for years, and I’m sure when the time comes, they will pull back on spending on new ventures and build an endowment. But for now, you need not worry:)
I absolutely agree with @HRSMom . You don’t need to worry about the school going bankrupt while you’re there or losing your scholarship. They just have an unconventional economic model, just like they’re an unconventional school. And they make it work.
I thought Bard didn’t have merit scholarships? I personally got 100% of my need met and will most likely graduate debt-free if really try and if I decide to go to Bard at all. Bard is one of the best with need-based financial aid.
I share the OP’s question and concern. Bard is an amazing college which provides its students with great opportunities in a unique environment. It is one of the truly intellectual colleges in the U.S.
But what if it does a Sweet Briar (sp?) and either comes close to closing or closes? It is desirable to have a school that remains prestigious at least until the time you retire and no longer have need of referring to your credentials for any career moves.
Add to this the fact that Botstein is sure to retire himself someday; what will be the impact on fundraising if this phenomenally dynamic individual is gone and the college is low on reserves/ cushion?
Perhaps Bard could address this head on with a section on their website to let parents of current and potential future students know what steps they are taking to ensure that the college remains in solid financial shape for years to come. I am sure that they are taking actions. What are the actions?
I can’t address financial concerns, but I would say if your main consideration when choosing a college is pointing to it and impressing people with a name…then Bard is not the school for that.
Come for the professors, the environment, the professional opportunities. Bard will fulfill your expectations on those fronts, and more.
I am confident Bard will be around for a long time.