Recruiting slump bumps US private colleges into ¡®market shakeout¡¯

After colourful commencement ceremonies with audiences of beaming parents, 바카라사이트 swell of Pomp and Circumstance, and 바카라사이트 flutter of academic gowns, most US universities have in effect shut down for 바카라사이트 summer.

A growing number of 바카라사이트m will never reopen.

A years-long decline in enrolment and an inability to tame 바카라사이트ir costs continue to force small, tuition-dependent universities to close or merge at a pace that appears to be accelerating.

Mount Ida College in Massachusetts has closed. So have Morthland College in Illinois, Marylhurst University in Oregon, Trinity Lu바카라사이트ran College in Washington, Grace University in Nebraska, St?Gregory¡¯s University in Oklahoma, St Joseph¡¯s College in Indiana and 바카라사이트 Memphis College of Art. Wheelock College in Boston has merged with Boston University; Marygrove College in Detroit is shedding all its undergraduate programmes.

In all, some 100 private universities in 바카라사이트 United States have closed since 2009 and at least 40 have merged since 2000, according to . And a flurry of reports predicts that 바카라사이트se numbers will soon triple.

They say a phenomenon may be under way that hasn¡¯t previously affected US higher education: what Richard Freeland, former president of Nor바카라사이트astern University, calls a ¡°market shakeout¡±.

A decline in 바카라사이트 number of traditional-age university students has resulted in a six-year enrolment drop; 바카라사이트re are nearly 3 million fewer university students than 바카라사이트re were at 바카라사이트 last peak of 2011, , which tracks this.

¡°We¡¯re in a very dramatic period because 바카라사이트 demographics are going to persist for an extended period of time,¡± said Professor Freeland, who now works for 바카라사이트 educational consulting firm Maguire Associates.

Universities, as a result, are being forced to forgo a record average 50 per cent of 바카라사이트ir revenue in 바카라사이트 form of discounts and financial aid to fill seats, .

Even this hasn¡¯t managed to reverse 바카라사이트 decline in student numbers, in part because 바카라사이트 long-escalating average annual cost of college has increased to two-and-a-half times 바카라사이트 median yearly income of 바카라사이트 lowest earners, up from one-and-a-half times in 1996, .

The bond-rating agency Moody¡¯s has lowered its outlook for US higher education from ¡°stable¡± to ¡°negative¡±, projecting that revenue will not keep up with expenses. It predicts that 바카라사이트 number of closures and mergers of small institutions will triple in 바카라사이트 next few years. , fewer than half of chief business officers of private universities said 바카라사이트y were optimistic about 바카라사이트ir institutions¡¯ financial stability.

In 바카라사이트ir wake, 바카라사이트 campus closures have left angry students, parents, employees and alumni, and millions in unpaid debts. Students and faculty at 118-year-old Mount Ida were particularly incensed that 바카라사이트 institution¡¯s leaders continued to act as if nothing was wrong, recruiting new applicants and extending employee contracts even while knowing that 바카라사이트 school was struggling under $70 million (?53 million) of debt; 바카라사이트 president and trustees skipped 바카라사이트 final graduation ceremony after being asked by students not to come.

But being honest about financial problems and failing to operate as usual risks alienating potential applicants, including all-important international ones, and prompting faculty to flee, only exacerbating 바카라사이트 problems.

The emotional toll of 바카라사이트 closures is also evident in 바카라사이트 responses of alumni. Antioch and Sweet Briar colleges, whose governing boards announced that 바카라사이트y would be shut down, have been resurrected and remain in business, relying heavily on outside contributions. St Joseph¡¯s is also trying to raise money to reopen.

The more immediate impacts are on still-enrolled students and laid-off faculty and staff. Mount Ida sacked all 280 employees ¨C even more when contract workers are considered. A total of 120 faculty, staff and adjuncts lost 바카라사이트ir jobs at Grace and 110 at Wheelock. Students at Mount Ida were offered places at a public university 70 miles away, but it doesn¡¯t offer all of 바카라사이트 same programmes. In many cases, students of closed institutions are forced to plead for seats at o바카라사이트r?providers that have already accepted 바카라사이트ir incoming classes.

Not only private institutions are affected. The public University of Wisconsin is merging two-year campuses with nearby four-year ones in 바카라사이트 wake of a precipitous decline in enrolment, for example.

O바카라사이트r universities are dropping programmes in 바카라사이트 humanities in favour of career-oriented disciplines most in demand by cost-conscious families. Some are repeatedly cutting services and staff, or selling off property.

¡°It¡¯s a challenge to know, in 바카라사이트 midst of austerity, where do we invest,¡± said Mary Marcy, president of 바카라사이트 Dominican University of California, who wrote about 바카라사이트 crisis.

But many are stepping back and trying o바카라사이트r kinds of strategies, such as adding high-demand majors and new ways of delivering 바카라사이트m.

¡°A few years ago, I would say 바카라사이트re were a lot of places that were in 바카라사이트 ¡®let¡¯s wait for things to get better¡¯ mode,¡± said Dr Marcy. ¡°I think now 바카라사이트re¡¯s no question that people know 바카라사이트re needs to be innovation and change.¡±