A recent Religion News Service article chronicles the struggles of small religious colleges, saying that lacking substantial endowments, many are teetering on a financial cliff.
The article tells the story of St. Gregory’s University in Oklahoma, which has run out of cash and will cease operations at the end of this semester.
The university president, Michael A. Scaperlanda, says that in a “pre-WalMart world,” small institutions like his could thrive. On the other hand, colleges today must employ “very sophisticated business practices” in order to make it. A third of small private colleges that were rated by Moody’s operated with deficits last year, the article reports.
Read the full article here: http://religionnews.com/2017/11/20/closing-doors-small-religious-colleges-struggle-for-survival/
Image: Benedictine Hall, on the campus of St. Gregory's University by kennethaw88.