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Post by tigercpa on May 19, 2020 11:55:22 GMT
Furman announced it is cutting men's baseball and lacrosse.
Furman will honor all scholarships for the players.
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Post by doc on May 19, 2020 12:58:17 GMT
The University of Cincinnati eliminated mens soccer a few weeks ago. I'm afraid this is going to happen more the longer the uncertainty of next academic year continues to linger. The financial hits universities are taking will be catastrophic in many cases. We're looking at 10% budget cuts across the board to trim $16 million. More will come after that, I'm sure. They already stopped contributing to our retirement plans for the rest of the academic year - we're a small school so everything hits a bit harder.
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Post by tigercpa on May 19, 2020 15:46:25 GMT
The University of Cincinnati eliminated mens soccer a few weeks ago. I'm afraid this is going to happen more the longer the uncertainty of next academic year continues to linger. The financial hits universities are taking will be catastrophic in many cases. We're looking at 10% budget cuts across the board to trim $16 million. More will come after that, I'm sure. They already stopped contributing to our retirement plans for the rest of the academic year - we're a small school so everything hits a bit harder. More broadly, I think there is a real chance we see some serious "re-trenching" on the secondary education front. Too many schools, too much cheap money sloshing around in the form of student loans....schools will increase tuition as long as loans are easy to get. I don't remember when we started shaming people for not attending a 4 year school, but it needs to stop. |
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Post by doc on May 19, 2020 17:54:21 GMT
Given our cross app schools and the measures they are taking to recruit students we've had to increase our discount rate from around 48% to close to 55% I believe - that is just to compete with our biggest competitors. We really don't have a large endowment so basically we're giving away free tuition to compete for students. We had worked to get it down to the 48% mark but it's so competitive for students that schools have to offer lower tuitions to survive.
I agree with your comment re shaming people for not attending 4 year schools. Our son went to SLU, got a degree in graphic design and hated his work. A couple years ago he decided to go into the electrician apprenticeship program. He's just not cut out for working at a desk, he needs to work with his hands but he felt the need to go to college because it was an expectation. He did fine but I feel like he may have been 4 years ahead had he just gone to the apprenticeship program out of high school. The good news is his tuition was covered through a benefit at work so we only had to pay room and board. You have to wonder if that type of benefit is going to survive.
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