Thursday, May 30, 2019

A preliminary list of private colleges at risk

At the risk of being tarred and feathered again by education insiders, I am compiling a list of US colleges that are at financial risk. I am well aware that there are hundreds of schools in trouble, and that this list just touches the surface.

Why should I present a preliminary list? Because presently, students are not privy to college finances at private schools that they plan to attend. And judging from the decision in the Mount Ida case, it appears that courts do not favor transparency and accountability to help consumers.

I've tried unsuccessfully to reverse engineer the proprietary information of Jeff Selingo and EY. So instead, I've cut and pasted the 2017 Forbes list of schools with financial grades of "D" or less. The methodology for the grades is here. Wishing that Matt Schifrin would continue this important work, but in the meantime, this is all I have.

This list does not include subprime schools and it's not in any way related to instructional quality or student outcomes. Many of these schools are not even on the US Department of Education's Heightened Cash Monitoring list.

I also apologize to anyone at a school with the same name as a school on the list.*
Three schools on the list, St. Gregory's University, Mount Ida and Green Mountain College, have already closed.

While colleges may appear to be on the verge of financial ruin, there is no telling if the school may be saved by an outside force, such as the US Department of Agriculture. 

Adrian College
Alderson Broaddus College (bailed out by USDA)
American International College
Anderson University*
Anna Maria College
Ashland University
Azusa Pacific University
Baptist Bible College and Seminary (Clarks Summit University)
Becker College
Belmont Abbey College
Benedict College
Bethany College (bailed out by USDA) 
Bethel College-Mishawaka
Bethel University
Caldwell University
Campbellsville University
Carson-Newman College
Chaminade University of Honolulu
Chestnut Hill College
Colby-Sawyer College
Columbia College
Concordia College-New York
Concordia University-Chicago
Corban University
Dominican College of Blauvelt
Elmira College
Emmanuel College
Evangel University
Faulkner University
Felician University
Franklin Pierce University
Georgetown College
Green Mountain College (closed)
Immaculata University
Judson University
Keuka College
Keystone College
Lake Erie College
Lindsey Wilson College
Livingstone College
Long Island University-Brooklyn Campus
Long Island University-C W Post Campus
Malone University
Marian University
Martin Methodist College
Mary Baldwin College
Marygrove College
Marymount Manhattan College
Marywood University
MidAmerica Nazarene University
Midland University
Mount Ida College (closed)
Mount Olive College
Mount St. Mary’s University
Multnomah University
Newbury College-Brookline
North Carolina Wesleyan College
Notre Dame College
Nyack College
Oglethorpe University
Ohio Dominican University
Olivet Nazarene University
Ottawa University-Ottawa
Pace University-New York
Pacific Lutheran University
Pfeiffer University
Philadelphia Biblical University-Langhorne (Cairn University)
Prescott College
Quincy University
Regis College
Rider University
Rockford College
Rockhurst University
Roger Williams University
Saint Gregorys University (closed)
Saint Joseph's College-New York
Saint Martin's University
Saint Mary-of-the-Woods College
Saint Peter's College
Saint Xavier University
Shorter University
Sierra Nevada College
Spring Arbor University
Spring Hill College
The College of Saint Rose
The Sage Colleges
Tusculum College
Union College*
University of Bridgeport
University of New Haven
Urbana University
Utica College
Westminster College*
Wheeling Jesuit University
Wiley College

*There are two or more schools with this name

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