Middlebury Facing Financial Difficulties

<p>To Master Dad, no I was able to open it without any like threat.</p>

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"The Orient" is Bowdoin's student newspaper. Clear things up?

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<p>Yes, very much so.</p>

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p.s. modadunn a SALARY freeze is NOWHERE near the same thing as a HIRING freeze

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<p>I can't seem to find where I said they were the same thing. However, I think what i was saying is that the economic downturn has many colleges taking similar courses of actions. However, it is my understanding that Amherst is going to be trying to hire in some departments for certain positions, but will reduce or eliminate visiting professors. Also, it is my understanding that most all of these schools (Bowdoin, Midd, Amherst, Williams, etc) are exacting a salary freeze or if anything, giving only a very modest cost of living increase. Two separate things for sure, but it would seem that most schools are pretty much doing both of these things.</p>

<p>I thought that Middlebury, more than any other school we visited, SCREAMED money. The dining facilities, the ritzy theater, the infirmary(!), everything. It looked like every single building on campus had just been renovated yesterday. Now they are "facing financial difficulties." Well, maybe if they cut out even 25% of their facilities, they are still going to look look Richie uber-Richville.</p>

<p>I agree with your observations about Middlebury (minus the pejorative references to the rich, which were humorous). They have some of the most beautiful and luxurious facilities of any college we visited. But most expensive private colleges look across a pretty wide divide at the relatively shabby state of the facilities of the vast majority of colleges and universities, and that shabbiness is only going to grow worse. Schools all across the country are already putting three kids in doubles and delaying much needed improvements.</p>

<p>It's too bad that every college can't offer kids what Middlebury does. But Middlebury is also one of only around 30 colleges in the nation that have fully need-blind admissions. In my mind, that innoculates Middlebury against the Ritchie Rich attacks. There are plenty of kids with substantial financial aid packages there that are enjoying the benefits of those beautiful facilities as the kids whose parents pay $51,000 + per year. And being one of the latter group, with three kids to put through college and a college fund that's worth exactly 76% of what I put into it five years ago (without any withdrawals yet!), I'm happy to sacrifice so that my child gets to go to Middlebury and I'm happy that Middlebury is committed to living up to its need-blind admissions policy. I hope both enjoy and appreciate their four special years in college.</p>

<p>Rick.. Midd is my husband's front runner for our son as well. I am more of the frame of mind that we need to see where he gets in. I agree in a huge way that looking at school facilities as they stand today should be really important to the incoming freshman because not much will change in their four years in terms of capital improvements and what might change, the educational experience, should hope to minimize that as much as possible. I think science majors will shoulder the most decline simply because of the advances in science and the huge dollars associated with it.</p>

<p>Rick, you are so right. Thank goodness that during the fat years, some small portion of all that money was being invested in a first rate college. Too bad there was not a little more of that investment in other schools. How many glitzy new sports stadiums did the country build in the past 15 years? And yet, tens of thousands of America's top high school students clamor every year to get accepted to the same 30 or 50 colleges, nearly all of them built 100 years ago or more. The richest country in the history of the known universe should have far more campuses as beautiful and up-to-date as Middlebury's. It is shameful that we don't.</p>

<p>Middlebury's latest alumni magazine (Winter 2009) has a 6 page article on the state of the economy and its impact on the college. It includes many details about the size of the college's debt, cost of debt service, average endowment per student compared to 20 peer colleges, value of the endowment and its recent performance, etc.</p>

<p>According to Middlebury's Chief Financial Officer, "moving away from need-blind admissions and doing layoffs would be the last levers to pull" in responding to the current crisis.</p>

<p>Interesting article on college finances in this weeks "Campus."</p>

<p>From the article:

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Despite falling to $684 million - a far cry from its June 2007 high of $936 million - Middlebury's endowment has out-performed that of almost every other NESCAC school since the stock market began its precipitous decline late this summer.

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<p>College</a> finances hold up, for now - News</p>

<p>Arcadia, that article is just one more reason why I'm proud to be a Midd Grad.</p>

<p>normally, I think I'd have an very high chance of admission, but I'm an international and need a ton of aid (ie. basically the full cost of going to Midd)....considering they are cutting the financial aid for internationals, do you think I even have a chance? I'm so scared no one will give me a chance....</p>

<p>also, do you think being Canadian could help at all? some schools consider Canadians as only "half" internationals??</p>

<p>thanks!!</p>

<p>Not entirely sure I've ever met anyone with a "very high chance of admission" to Middlebury, but good for you. As far as cutting financial aid for internationals goes, I don't believe that has any impact on admissions decisions. They still have a need-blind admissions process for internationals. It may have a negative impact on the aid you're awarded, but it shouldn't have any impact on your admissions decision.</p>

<p>wow,just out of curiosity, is your need to make people feel silly characteristic of Midd students? some of us phrase things less than perfectly when concerned about our futures and some of us make a few typos when retyping a letter out for others' benefit</p>

<p>anyways, I didn't mean to overstate my qualifications, I only meant that I think I have a very strong application......my post should make it obvious though that I don't feel confident about my chances</p>

<p>but now I have an additional question....I had understood that Midd was cutting the number of internationals if necessary - not giving up its "meeting full need policy"?</p>

<p>Many of us don't know exactly what it means when a college says that it is cutting financial aid when they were previously need blind and met 100% of need. I have yet to see a college spell it out that they are no longer going to be that way, but something has to go. Maybe more loans in the package?</p>

<p>Middlebury was and remains need-blind for American students (and Canadians -- for some reason Canadians are treated the same as American applicants). It will be "need aware" or "need sensitive" for internationals. They will still meet the full need of all students they accept, but will accept fewer international students overall (instead of 10-12% in the incoming class, there will be 7-8%). This, according to the information on the website, and the Q and A section).</p>

<p>oh, are you sure about the Canadian thing?? that's fantastic as long as it stays that way! I did wonder since we submit the same app as US students but I couldn't find anything about Canadians specifically on the website.</p>

<p>and yes, that was the understanding I had gotten about international aid in general...what would be the point if they're cutting the full need aspect?</p>

<p>oh and sorry if I sounded unpleasant in my last post, was having a really bad day and thinking 'oh my goodness I need to get into college and get away from here'...this waiting is unbearable</p>

<p>Susanna, post #43...I couldn't agree with you more. Enough said by someone who visited the campus with D last summer.</p>

<p>thought you all would find this interesting…</p>

<p>[Middlebury</a> College: Coping with recession - Apr. 10, 2009](<a href=“http://money.cnn.com/2009/04/10/news/economy/levenson_college.fortune/index.htm?postversion=2009041007]Middlebury”>Middlebury College: Coping with recession - Apr. 10, 2009)</p>

<p>Visited the school with S yesterday. It is beyond gorgeous. And what the above article states is true. Their physical plant is nothing I experienced in college… far from it. However, that library? It MAKES one want to study. For a thursday night, I dropped my son off and he did his regular homework there and watched the ebb and flow of students. That waterfall? It’s beautiful and there are gathering spaces for students in almost every bldg. The science bld has study “lofts” with their own chalkboards and the way the students seem to use the spaces available to them definitely suggest academics are a priority.</p>

<p>I did meet a senior in a cute little diner in town who was eating with a freshman (some sort of mentoring thing) and he said two things that struck me. 1) my S must have put in a pretty impressive application because he works in admissions and the applications were the strongest he’s seen in the three years as part of the student committee. And 2nd, that Midd is a fantastic school, but that the Midd he experienced will probably not be the same for my S or the current freshman. </p>

<p>I didn’t get many specifics, but combined with the above article, this does worry me. And while not PC… I worry if the goal is to protect financial aid to the detriment of the other things the college brings to campus. 167% increase in financial aid in the last 10 years? That’s huge!! It’s wonderful, but in that same article, it really bothered me to see a family who sadly lost a job or whatever but who had been living well beyond their means even before the job cut with 100K in consumer debt and another 200k in educational debt looking for more aid. It just seems a little irresponsible if your intent was to send your kid to a private college to be living the high life that lead to 100k in debt. Still. the family does net more aid. </p>

<p>So, the financial crisis has them altering/canceling the freshman orientation program (although doesnt necessarily offend me), but if they make huge cuts to the social support/outlets to a school (that is surely in the middle of nowhere) in order to support people with 100K in consumer debt? I am not sure I can support those priorities. This does not refer to the URM first generation college underrepresented faction, etc etc. But based on this article alone, to whom do the most resources go? I don’t know how much I want to spend over 50K to have a completely watered down version of a college experience just so a family who completely lived beyond their means can attend. And I dont intend to sound heartless in the least. I appreciate socioeconomic diversity more than anyone can truly imagine, but it’s a little hard to swallow how much we go without just to make sure our kids have the opportunity and the burden of that being our own that this was the most offensive part of that entire article.</p>

<p>As for the future income stream suggestions… Hey, they’ve got a reputation and a solid in for their specialites. Damn right they should capitalize on it. They should hold environmental symposiums/summer programs as well. They’ve had the major forever, and Colgate is just adding it this year. Know your purpose and use your strengths. It’s classic Leadership 101.</p>

<p>I think we’ll see what kind of response I get tomorrow.</p>

<p>^^ Headed back there tomorrow to leave out of Burlington on Sunday early AM. So will hopefully have a chance to ask a few questions tomorrow.</p>

<p>Modadunn, I just want you to know you have an audience for your observations. I too find it distressful to be offered no aid having been careful and frugal for 18 years. I am resigned to paying full boat for S to attend wherever he chooses, but I would too like to know the $50k plus will be as well spent as it would have been a year ago. So please, continue to post your specific and detailed thoughts and observations as we seem to have some similarities in our respective positions.</p>

<p>One thing I can add about it. It seems that they are not skimping on faculty. I know the departments in which S is interested have added faculty for the fall in response to need and demand. Or so it seems.</p>