Humpty Dumpty is going down; What to expect and how to respond!
Humpty Dumpty, the children’s rhyme, is for real these days. Do you remember it?
Humpty Dumpty sat on a wall; Humpty Dumpty had a great fall. All the kings’ horses and all the kings’ men, couldn’t put Humpty together again.
Humpty is higher education, and Humpty is taking a major fall. More change will occur in the next 15 months in colleges and universities than was expected in the next 15 years. Covid-19 is the spark to this Perfect Storm for colleges and universities, forcing massive disruption in all areas. It WILL alter the university experience for students, staff, faculty, athletics, and administrators. To be brutally honest, some colleges and universities will not make it. I believe my alma mater, a tiny private college, is not financially sound enough to survive.
If you watched my Facebook Live presentation on May 26, I shared an abstract published by the James G. Martin Center for Academic Renewal titled, Higher Education after Covid-19; how universities can preserve core academic functions and reduce spending. For a full report, here’s a link to the article, Higher Education. Their critical points of change are listed below:
Modest strategic cuts to academic programs
Immediate hiring freeze
Temporary salary cuts to highly paid faculty
Incentives for early retirement
Increase some teaching loads
Consolidation and elimination of low-productivity departments
* Immediate cross-platform cuts in college administration
* Hiring freeze
* Temporary salary cuts to highly paid staff
* Significant reductions in all non-academic positions
* Freeze new facilities and infrastructure projects
* Large cuts in athletics
* Hiring freeze
* Temporary salary cuts for highly paid staff
* Elimination of non-essential and supportive athletic posts
* Scholarship and grant reforms
If it looks surprisingly gruesome, it is. Universities are expecting a 15-20% drop in students attending this fall coupled with state budget shortfalls between 10-20%. One out of six students won’t be there in August. Some states were already in shaky financial condition before the shutdown from the virus. Their budget deficits will deeply impact public universities, where 80% of all students attend college. Only schools with the largest endowments and strictest admissions policies are positioned to weather this upheaval. Therefore, the recommendations in the Martin Center article are not mere projections. Consider the radical changes happening in Akron, Ohio. I expect more schools to follow.
The University of Akron, a public university serving roughly 15,000 students, announced the reduction from 11 colleges to 5 this past week. Highly compensated administrators are “voluntarily” taking 10-20% pay cuts. Athletic programs are on the chopping block. All this for a goal of cutting $65 million from a $325 million budget. The only thing remarkable about U of A is how quickly they have acted. Expect more and more announcements throughout the summer. While you are keeping your ears to the ground, here are some things to check on if you have a student in or going into higher education.
First. If your student is already in college or university, review their major. If it is a common academic major, it is probably safe. If it is micro specialized or graduates just a few students every year, it could be in peril. Your college will give guidance if the major is to be eliminated or folded into another one. Stay alert.
Second. Same thing for athletic scholarships. Unless your athletic scholarship student is in a large school playing for a moneymaker sport like football or basketball, they are at risk. As of today, there are NO concrete answers about what happens to an athletic scholarship if the sport is canceled. For example, if their school is a national powerhouse in swimming, lacrosse, or curling, that may save their program. If not, it could go on the chopping block. Be ready for all possibilities. It may entail changing colleges or universities to a non-canceled program, or taking on the financial costs of the lost athletic scholarship.
Third. If your student is two years or more away from entering higher education, keep up the academics and service to others’ projects. The better the “package” your student becomes, the more desirable they will be. I project the upcoming massive changes will reduce student enrollment numbers for several years. This may open up more financial aid, grants, and scholarships for your student IF they are seen as adding to the campus mix. Help you them become a well-rounded, articulate good citizen so colleges and universities will court them with money and meaningful perks.
Fourth. Keep your options open. Online learning, military education, CLEP exams, or community college remain valid paths if finances got tighter due to a layoff. If your student is gifted in the trades, help them find their best path towards training and certifications needed. The electricians, plumbers, and overland drivers were essential during this shutdown, and are heroes, too. If you need more ideas, check out my affordable book; ENOUGH! The College Cost Crisis.
College is changing rapidly on a weekly basis! My goal is to bring practical ideas and awareness, so you can stay ahead of this. To get this weekly drop of critical information and thoughtful approaches, sign up for free at LightWay Enterprises. We will never share or sell your contact information.
Please share this blog with your kids, grandkids, family, and friends who have students ages 12 and 22. It is written for anyone who needs ideas for helping their student in these turbulent times.
Until next time,
All my best,
Bonnie Burkett
